STATEHOUSE (Feb. 2, 2017) – The House Committee on Local Government today passed two of State Rep. Doug Miller’s (R-Elkhart) bills supporting local government through revitalization and economic growth.
One of Miller’s proposals would free up development funding from performance bonds to make building and expanding subdivisions and industrial parks a more fluid process.
Currently, local governments give contractors a performance bond based on the value of the structure they are building. Miller said if a delay in the project occurs, the area being constructed is in limbo, postponing all other projects in the area.
“My proposal accounts for delays that tend to happen on worksites, and would give the local government the ability to partially release the performance bond to let another building project begin,” Miller said. “Unfreezing these bonds to be partially released will allow more projects to be completed, which can be an economic driver for local communities.”
According to Miller, the second piece of legislation passed would give money to communities, like Elkhart, as part of a Community Revitalization Enhancement District as opposed to tax increment financing.
Indiana law allows money from TIF districts to remain only within that designated TIF district. A TIF is a financing method that is used for redevelopment of infrastructure, and other community-improvement projects.
“Through CRED, the two TIF districts in our area would be able to share the money with the city of Elkhart to revitalize our downtown area,” Miller said. “There is a number of businesses located in between these two TIF districts that see none of this funding, so by allowing these monies to be dispersed to revitalize Elkhart, our entire community will benefit.”
House Bills 1117 and 1155 will now be considered by the House Committee on Ways and Means. Continue to follow Miller’s legislation by visiting www.iga.in.gov.
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State Rep. Doug Miller (R-Elkhart) represents House District 48, which includes portions of Elkhart County
A high-resolution photo of Miller can be downloaded by clicking here.
