Page 165 - Michigan City, IN US Highway 421 Corridor Plan

5.5 Implementation Action Plan

— topographical and aerial maps showing the lot layout; — Agreement on behalf of the applicant that funds from the P. IDNR Lake and River Enhancement Program Local Financing Options
— Phase I Environmental Site Assessment (ESA) performed by CTP’s tax increment account and grants awarded from The goal of the Division of Fish and Wildlife’s Lake and River Q. County Option Income Tax (COIT)
a certified professional within the prior six months (Phase the Technology Development Grant Fund will be expended Enhancement (LARE) Program is to protect and enhance aquatic
I Report and supporting information based on ASTM according to CTP guidelines and agreements; habitat for fish and wildlife to ensure the continued viability of COIT provides tax revenues to local governments for general
standards E 1527-00 or E 1527-05.); — Agreement on behalf of the applicant that IEDC may revoke Indiana’s publicly accessible lakes and streams for multiple spending. Funds may also be allocated for communication,
the tax increment and recapture rights of the technology uses, including recreational opportunities. This is accomplished transportation systems, and financing economic development
— wetland delineation demonstrating that impacts to waters projects.
of the state will be avoided or mitigation plan approved by park in the event of noncompliance with any part of the through measures that reduce nonpoint sediment and nutrient
the Indiana Department of Environmental Management; agreements of the community, redevelopment commission, pollution of surface waters to a level that meets or surpasses R. County Economic Development Income Tax (CEDIT)
or any tenant of the park; state water quality standards.
— water, wastewater, natural gas and electric infrastructure CEDIT is a local option income tax that provides funding for
to property line or demonstrate the ability to construct and — Evidence of local government financial participation in the To accomplish this goal, the LARE Program provides technical local economic development projects with the goal to increase
pay for the infrastructure up to property line; with capacity establishment of the CTP; and financial assistance for qualifying projects. Approved grant local employment opportunities and/or attract or retain
clearly defined; — An agreement with an Indiana institution of higher funding may be used for one or more of the following purposes: businesses. In addition to direct investments, CEDIT funds
education whereby the institution makes a meaningful can be used to back a bond issuance for an eligible economic
— transportation infrastructure to property line or — investigations to determine what problems are affecting a
demonstrate the ability to construct and pay for the monetary or in kind contribution to the park; and lake/lakes or a stream segment; development project, which is defined as a project that will
infrastructure up to property line; and — Agreement between IEDC and the applicant regarding: promote significant opportunities for the gainful employment of
— evaluation of identified problems and effective action its citizens, attract a major new business enterprise, or retain
— high speed communications infrastructure to property » The types of businesses eligible to locate in the park; recommendations to resolve those problems; or expand a significant business enterprise.
line or demonstrate the ability to construct and pay for and
infrastructure up to property line; with capacity clearly » The types of businesses located within the park from — cost-sharing with land users in a watershed above Depending on how the City of Michigan City approaches future
identified. upstream from a project lake or stream for installation or annexation, in light of the State of Indiana’s new annexation
which revenue may be recaptured for use within the application of sediment and nutrient-reducing practices on
M. IEDC Industrial Development Grant Fund (IDGF) park. their land; laws, LaPorte County may or may not have a role to play within
the Project study Area.
IDGF provides assistance to municipalities and other eligible O. IDNR Lake Michigan Coastal Program — matching federal funds for qualifying projects;
entities to reimburse a portion (typically up to 50%) of eligible The Lake Michigan Coastal Program (LMCP) supports — watershed management plan development; S. Tax Increment Financing
public infrastructure costs over a period of two full calendar coordination and partnerships among local, state, and federal The tax increment finance (TIF) mechanism in Indiana
years from the commencement of the project. The costs are agencies and local organizations for the protection and — feasibility studies to define appropriate lake and stream permits a town, city or county, through a local redevelopment
associated with an economic development project supported by sustainable use of natural and cultural resources in the Lake remediation measures; commission, to designate targeted areas for redevelopment or
the Indiana Economic Development Corporation and must be Michigan region. Through the LMCP, Indiana participates in — engineering designs and construction of remedial economic development. Those areas can then be designated
negotiated prior to a location commitment from the end user. the Coastal Zone Management Program with 33 other coastal measures; as “allocation areas” which triggers the TIF process. After
Eligible expenses include construction of water and sewer lines, states and territories to protect, restore, and responsibly develop — water quality monitoring of public lakes; such a designation is made, property taxes generated from
roads and sidewalks, rail spurs, and fiber optics. Indiana’s coastal area.
— management of invasive aquatic vegetation; and new construction in the area, rather than going to the normal
taxing units (e.g., schools, cities, counties), can be set aside
N. Indiana Certified Technology Parks (CTP) Program Development of the LMCP will make more than $1 million — sediment removal from qualifying lakes. and invested back in the area to promote development. TIF
available annually to implement the LMCP and for grants to
The Certified Technology Parks program was created as a tool to revenues may be used directly to finance public infrastructure,
support the attraction and growth of high-technology business communities in northwest Indiana. Examples of how these funds IDNR Community Forestry Grant Programs land acquisition, site improvements, and other public
in Indiana and promote technology transfer opportunities. might be used include: Cities, towns and non-profit organizations can receive funding improvements. Alternatively, TIF revenues may be pledged to
Designation as a Certified Tech Park allows for the local — Protection and restoration of significant natural and to enhance urban trees and forests. The Indiana DNR, Division the payment of bonds or lease rental obligations issued or
recapture of certain state and local tax revenue which can be cultural resources; of Forestry offers four grant programs that help improve, incurred to finance such projects.
invested in the development of the park. The Indiana Economic protect, maintain and increase the number of trees in Indiana
Development Corporation (IEDC) has established the following — Programs to prevent the loss of life and property in coastal communities. This federal and state funding is provided on an
requirements for approval of current and future applications for hazard areas; annual basis by the Indiana Department of Natural Resources
Certified Tech Park (CTP) status and grants from the Technology — Improved public access for recreational purposes; and the USDA. Forest Service Grantees must match the grant
Development Grant Fund: with an in-kind and/or monetary match.
— Revitalized urban waterfronts and ports;
— Submission of a viable business plan that establishes a — Improved coordination among government agencies in
clear strategy for long-term growth; policy and decision-making processes; and
— Demonstration that the designation of the CTP creates an — Pollution prevention initiatives, including non-point source
opportunity to attract a specific high-tech business; pollution into coastal waters.

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5.0 Implementation Adopted: August 16, 2016