Most of our regular posts and links are put on our more active Facebook page for Cender and Company, which of course would always welcome your likes.
Since many of our clients are municipalities, we feature a series of links to articles that affect governing, using EGov and Gov 2.0 technologies, and financial matters pertaining to governance. Some recent posts worth checking out:
Tax Exempt Parcels on the rise and creating long term budget planning difficulties
Porter County Assessor Jon Snyder, a client and friend, eliminates the appeals backlog he acquired when elected two years ago.
Can innovation and governance co-exist? We say yes definitely.
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Wednesday, May 16, 2012
The East Chicago Indiana city council gave approval to the Mayor to begin the process of a public-private partnership to build a toll bridge for Cline Avenue.
The agreement allows Copeland to proceed with a transfer of the state-owned 1.25-mile span over the Indiana Harbor and Ship Canal to a development group that will build, own and operate the new road.
In return for an estimated investment of between $150 million and $250 million to rebuild the bridge, United Bridge Partners stands to gain 10 years of tax abatement and 25 years of financial leverage through creation of a tax increment financing district beneath the overpass.
Though the toll has yet to determined, the city will collect 10 cents for every vehicle crossing between Hammond and Gary.
As a state highway, Cline Avenue currently generates no property taxes, said Karl Cender of Cender and Company, the council's financial adviser.
"After a private company rebuilds it, it will be assessed — but with a tax abatement for the first 10 years," Cender said.