The Times, Munster, IN 2/20:
2017 Indiana General AssemblyPlan for transit development districts clears first hurdleINDIANAPOLIS — An innovative plan to finance development near commuter rail stations on the South Shore Line and proposed West Lake extension was approved 19-3 Monday by the House Ways and Means Committee.
House Bill 1144, sponsored by state Rep. Hal Slager, R-Schererville, would put the Northwest Indiana Regional Development Authority in charge of promoting and managing commercial and residential investment at Transit Development Districts centered on the rail stops.
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The RDA's planning consultant, Indianapolis-based Policy Analytics Inc., estimates the local tax revenue growth available for development spending in Lake and Porter counties will total $456.2 million over a 20-year period.
Slager said the release of that number last week got the attention of officials in LaPorte and St. Joseph counties who now are interested in taking advantage of TDD opportunities on their portions of the South Shore Line.
"Hopefully we'll make this attractive enough that they'll want to be a member of the RDA," Slager said. "If they are not a member of the RDA they cannot participate."