A joint meeting held Monday in city Council Chambers was attended by city council members, the Rush County Area Plan Commission (APC), the Redevelopment Commission and a number of concerned citizens. At the meeting, each of the entities adopted a Declaratory Resolution. The meeting resulted in another positive step toward finalizing the necessary groundwork regarding a new ethanol plant north of INTAT.
County and city legislators heard a brief report from the recently formed Rush Renewable Energy (RRE) LLC, which will operate the proposed ethanol plant.
Those in attendance heard Jack Coons explain that RRE is a limited liability company organized for the purpose of constructing and operating the plant — and that RRE is a joint venture between several Indiana entities and two national corporations that own and operate South Bridge, LLC. South Bridge is a company committed to ethanol and its manufacturing from corn and agricultural products.
According to Bob Riling of South Bridge, a two year search by the company for a location to build ended following a meeting in August with city and county officials.
Monday’s meeting was necessary to begin the process for RRE to obtain Tax Increment Financing (TIF) to build the plant. TIF is a tool made available to businesses to capture assessed values and new property taxes from new development, generally only on commercial and industrial property.
Lisa Lee, an attorney for South Bridge, explained the necessary processes; following RRE approval, the APC met and approved the Declaratory Resolution, stating that it conformed to the city’s comprehensive plan. Then the city council acted on the order by the APC and approved the resolution.
The next step will be a public hearing and adoption the Confirmatory Resolution.
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