La PORTE – The La Porte Common Council has approved a resolution to allow for the acquisition of about 25 more acres of land to the Thomas Rose Industrial Park Economic Development Area, land the Redevelopment Commission will use to add to a stormwater runoff project.
Thomas Rose currently consists of more than 100 acres of industrial land, which also helps the city provide water and sanitary sewer lines along Lincoln Way to Burson Street.
The land to be acquired is made up primarily of farmland, and once it is purchased, the Redevelopment Commission intends to turn the land into a stormwater basin.
Purchasing the property for the expansion must be approved by the Plan Commission, as well as the Common Council. The Plan Commission had approved the resolution prior to the Common Council meeting last week.
"In order for the Redevelopment Commission to purchase property, it must be listed in the Economic Plan for a TIF (tax increment financing)," said City Planner Beth Schrader. "Since the project benefits TIF 2, we have to amend the existing plan to list the property to be acquired.”
The resolution approving an Amendment to the Declaratory Resolution and Economic Development Plan for the Thomas Rose Industrial Park Economic Development Area was approved by the City Council unanimously.
The Redevelopment Commission must next conduct a public meeting to allow for discussion of the new resolution. That meeting is expected to be announced later this month.