Indian Hills GID: Incorporation could pay redevelopment
October 24, 2004
If Indian Hills residents choose incorporation, Douglas County’s school funding could get a $190,000 financial boost the first year after Indian Hills becomes a city.
That number could jump to about $667,000 a year over the first 10 years if the new city decides to pay for redevelopment in North Douglas County, according to a report generated by the district.
This advantage and more concerning cityhood will be presented at a 7 p.m. meeting of the Indian Hills General Improvement District Board Tuesday. Redevelopment funds finance infrastructure and other improvements in the so-called “blighted” areas of any community come with a price tag.
Such was the case with Douglas County’s commercial district, and residents will be paying for those improvements over the next 30 years, according to Indian Hills General Manager Jim Bentley.
“When Douglas County formed the redevelopment agency, they told their constituents some of that money could flow back to the schools,” Bentley said. “Then Douglas County said ‘no.'”
He said eliminating the redevelopment status would be difficult, but possible.