Latest news with #GreaterLimaRegion
Yahoo
10-05-2025
- Business
- Yahoo
Allen Lima Leadership tours downtown development
May 9—LIMA — Downtown Lima is changing. Approximately $60 million has been invested into the southeast corridor, said Greater Lima Region President and CEO Dave Stratton during a meeting with Allen Lima Leadership. Friday, Allen Lima Leadership members joined Stratton and Allen Economic Development President and CEO Cindy Leis to see firsthand how development looks compared to how it used to look just a handful of years ago. Locations included Spring & Main, Casa Lu Al, Nonno's Cellar, Vista Taco, all owned by John Heaphy, the Central District and Social House, owned by Tracie Sanchez and Drew Fields. Before the tour, Stratton and Leis provided a brief background of what they do. "We're looking at what kind of capital investments are coming into the area, we're looking at what kind of job creation there might be," Stratton said. "It's all about jobs." Leis is passionate for Lima and hopes Lima residents begin to feel the same way. "We need to change our perception about who we are," Leis said. "We need to say 'We're Lima, yes, come downtown; we've done a lot of great things, come here, take the jobs here, live here because Lima's awesome." Lima is right at the heart of endless possibilities. "You go out 60 miles you hit right at a million, million two (population)," Stratton said. According to data provided by AEDG and GLR, more than $3 billion has been invested in Allen County in the last five years. Stratton and Leis also discussed the Central District's Makerspace Hub space, 219 S. Central Ave., the recent additions of high-end loft apartments to the Metro Center, 133 N. Elizabeth St., and other projects such as Rode's Meats and Love's Travel Stops in Delphos. Reach Cade Higgins at 567-242-0351 Featured Local Savings
Yahoo
29-01-2025
- Business
- Yahoo
Allen County officials discuss infrastructure funding option
Jan. 29—LIMA — As Lima's Procter and Gamble facility expands, the demands on infrastructure have led to the development of new roadway projects, including the construction of a roundabout in front of a warehouse expansion on Thayer Road, a project that comes with a $3 million price tag. On Tuesday, the Allen County commissioners met with representatives from the county engineer's and auditor's offices, the Allen Economic Development Group and Greater Lima Region to discuss an alternative method for funding these expensive infrastructure projects. The meeting centered around the concept of Tax Increment Financing, an option that would take a certain portion of the property taxes on the increased property value of the parcel being developed for a set period of time and earmark that collected revenue for an infrastructure project's construction and maintenance. This would not be a tax abatement, where a percentage of property tax is waived for a set period of time, but it would instead collect the additional property tax in an escrow account to recoup the costs of projects such as roundabout construction or road widening. "In 2027, I'm widening Thayer Road south from Reservoir Road down to (state Route) 309 at a cost of about $2.5 million," Allen County Engineer Brion Rhodes said, noting that between that, the roundabout project and the widening of a portion of Thayer Road closer to the P&G warehouse back in 2005 at a cost of $2 million, infrastructure improvement costs around the warehouse have grown to more than $8 million over the past 20 years. Tuesday's meeting did not result in any passage of legislation, instead focusing on educating those present about the TIF program. The advantage of this program, Rhodes said, is that it helps relieve the burden on the county, city or township that would have to bear the cost of these expensive projects, shifting all or part of that responsibility to the business or residential developer set to benefit from the improved infrastructure. It was noted in the meeting that other levies that depend on property taxes could miss out on that revenue while the program is in effect, including school districts. "If you would have a 10-year, 75-percent redirection of taxes — if you go to those thresholds and don't exceed them — the schools are given notice, but they don't have a say," consulting public finance attorney Jeffry Harris of the Columbus-based law firm Bricker Graydon said as he joined the meeting remotely. Harris added that if those thresholds are exceeded, school districts and other levy beneficiaries would be entitled to compensation, which is often negotiated well in advance. Harris also emphasized that this program does not create an increase in collected taxes. Instead, it holds a portion of the taxes that the property owner would pay anyway and keeps it specifically for infrastructure. Featured Local Savings
