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TIF Floats Funds As Lincoln Street Readies For Facelift
Thursday, October 01, 2009 4:58 PM


(Source: Greensburg Daily News)trackingBy Joe Hornaday, Greensburg Daily News, Ind.

Oct. 1--Utility relocation continues to dominate the current developments along Lincoln Street as part of the Lincoln Street Reconstruction Project.

On Wednesday, the Tax Incremental Finance (TIF) Board met at City Hall and heard from Street Commissioner Mark Klosterkemper about the ongoing process.

Duke Energy, the company responsible for most of the utility relocation, has completed "phase one" of the relocation on the north end. Companies ETC and Comcast also started work with the utility relocation this week, and Verizon is scheduled to begin soon.

The contract for Giddings Cleaners, which is set to be demolished as part of the project, has concluded, Klosterkemper reported to the TIF Board. H.I.S. Contractors will begin work Monday on the site. The Giddings Cleaners part of the Lincoln Street Project will include the removal of several tons of contaminated soil and temporarily close down Barachel Lane.

Klosterkemper also reported that he himself, Mayor Gary Herbert and State Rep. Cleo Duncan urged INDOT (Indiana Department of Transportation) to keep the project going on Monday. The invoice to INDOT had been paid by the city on Tuesday, and the notice to proceed had been given to Dave O'Mara Contracting, the company that will be responsible for most of the street construction. The contracting crew can show up next week to begin actually cutting into the street and starting work.

Klosterkemper explained that the contractor's priority would likely be the area around First Street to the south side of the Decatur County Memorial Hospital on Lincoln Street. Significant detours will be created around the area. Klosterkemper noted that he would have a better idea of the contractors' intentions following a meeting with them next week.

Klosterkemper added that approximately $800,000 had been transferred from the Vandalia Road Project to help fund Lincoln Street. He explained that he is resubmitting for more funds for the Vandalia Road Project, and that he hopes to get it replaced.

TIF Board president Ken Dornich led the board as it paid the bills next. Following the payment of bills from the TIF accounts, the remaining funds stood at $8,025.51. Dornich noted that the TIF accounts would increase following the next tax distribution. Bills from that account included invoices for land surveying in the amount of $357.53. About $262,000 remained in the construction account following the payment of $140,249.74 to entities H.G. Umbaugh and Associations, Barnes and Thornburg, Indiana Bank and Trust, city attorney Tim Coriden and a reimbursement of funds back to the city's EDIT account. As the funds continue to be drawn out of the construction account, much of the money will be reimbursed by INDOT as it's paid out. Dornich referred to it as a "float fund."

"Barring any large change orders, I think we're in really good financial shape," Dornich said.

Before adjourning, the TIF Board commended Klosterkemper on the work he had for Lincoln Street. TIF Board member Darrell Poling said Klosterkemper had been instrumental in the project and had worked hard to save money where it could be saved.

"Mark, we appreciate that," Poling said.

The next meeting of the TIF Board is scheduled to begin at 6:30 p.m. on Wednesday, Oct. 28 at City Hall.

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