Pendleton moves step closer to adding multi-family housing, business space

May 10—PENDLETON — Development of the North Heritage Way extension near Interstate 69 is a step closer to reality after action by town council Thursday night.

Council unanimously passed the first reading of an ordinance authorizing the issuance of two series of economic development revenue bonds connected to the extension.

Plans currently call for a mixed development of general business and about 200 units of multi-family housing in the area, according to town officials.

Council also passed a resolution approving orders from the plan and redevelopment commission that would create a tax increment financing district for the development area. In TIF districts taxes are captured for use within the district.

"We've structured a community development agreement, and the TIF revenue is going to be used to pay for roads there," town manager Scott Reske said.

Council President Marissa Skaggs said that, although the developer on the project believed a two-lane road would suffice, a four-lane road will be built to conform to the town's thoroughfare plan.

Construction on the first lot of the development is expected to start in late summer.

In other business:

Council members voted to accept a bid from Monroe Construction Group of Kokomo for $267,800 to build two road salt barns south of the cemetery on Pendleton Avenue. The money will come from the town's allotment of American Rescue Plan funds.

The barns will be built with timber, Reske explained, because road salt can corrode metal, which is often used in similar structures.

Reske said the barns should be finished in time for the town's annual delivery of salt in late fall.

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