COLUMBUS, Ind. – The Columbus City Council met Tuesday evening and unanimously approved the issuance of tax increment financing (TIF) bonds for the purpose of developing the downtown corner of Second and Lafayette Streets. The project, developed by Indianapolis-based Flaherty & Collins Properties, includes an urban grocer and multi-family housing.
The bond is repayable from the city’s central TIF district, which has the lowest borrowing costs. It will only be issued after funding sources are in place.
In other business, the council approved on second reading the 2022 proposed budget for the city. It also authorized a not-to-exceed $42-million bond to fund Columbus City Utilities’ projects at Woodside Industrial Park, Terrace Lake, and other westside locations.