Jasper Library Board: Cultural Center tax credits next big step
Tuesday is an important day for the Jasper Library Board’s march towards the Jasper Cultural Center.
The Jasper Library Board will learn whether the proposed project at the Hoosier Desk site involving the library and Jasper Community Arts Commission will receive Industrial Recovery Tax Credits from the Indiana Economic Development Corporation Tuesday.
In September, the board was notified they had received preliminary approval on the tax credits worth about 25% of the culture center project cost. Those tax credits, estimated to be worth over $3.1 million for the project, pushed the decision to pursue the site over the tipping point by swaying board member Bill Hewitt.
It is also the only way the library board can stay within its state-mandated debt limiting clause that relegates the amount it can bond to $6.3 million for the building project. The board plans on whittling down a $6.5 million estimated price for the project through fundraising.
“If we don’t hold to that, then I think shame on us,” said Board President Dean Vonderheide before adding the board doesn’t want to appear to be pulling a bait and switch on the public.
The tax credits are only offered to for-profit organizations. To get the tax credits, the library board teamed with City Properties Group as a developer on the Hoosier Desk site Cultural Center.
City Properties Group is the property management portion of a property development firm that includes CityVisions Associates. CityVision Associates completed the designs for the Hoosier Desk building as well as the Jasper Downtown + Riverfront Master Plan and The Parklands designs.
At this point, City Properties Group has agreed to work with the library board as the for-profit portion necessary to get the credits for the project. But the company could potentially work with the building to create the proposed housing and private retail/restaurant portions of the property, but they have not declared their intentions to do so.
The discussion regarding City Properties Group was necessary as the board postpones some actions until they learn the status of the Industrial Recovery Tax Credits that were so necessary to pass the motion to pursue the site.
Wanting to postpone any other work until after the approval, the library board ran into some snags fitting another meeting in this month to finalize the request for proposals that are necessary to procure a total cost on the project to create the referendum. The push is needed so they stay on track to hit the November 2016 election deadline for the referendum to be on the ballot.
The board also took the following actions.
-Heard that Megan Johnson has declined the appointment to the library board due to time constraints. The Greater Jasper Consolidated School board had picked Johnson to replace board member Bill Hewitt who resigned from the board after he moved from the area. The school board has another person in mind and will likely make that decision at their next school board meeting.
–Approved Tabled a joint resolution to transfer territories, a resolution to officially add portions of Boone, Madison and Harbison to the libraries service area, until a board member is appointed to replace Hewitt. Only two townships, Boone and Madison, have residents that would use the library services and since most of the library’s services are available to any cardholder in the county the residents have will not experience any major difference in the services they are eligible to use. The resolution was necessary since it will give these residents’ voting rights in the upcoming referendum. They already pay taxes that support the Jasper Public Library since the City of Jasper annexed the areas. The library did not make the resolution after the annexation occurred since it would have caused the City of Jasper to lose a library board appointment. Recent state legislation changes allowed the city to maintain the board position.
-Approved Umbaugh Associates as the financial advisor for the referendum.
