Cumberland County commissioners join in IAC site TIF planning

The Cumberland County commissioners approved a resolution signaling their willingness to participate in plans to create a TIF for the former International Automotive Components site in Carlisle, which can be seen here under demolition in 2013. - (Photo / File)

The Cumberland County commissioners approved 2-0 a resolution Monday afternoon signaling their willingness to participate in plans to create a tax increment financing (TIF) district that could help Carlisle attract development to the 48-acre former International Automotive Components site at 50 Spring Road.

The resolution approved Monday by the county commissioners does not commit the county to a TIF, but does state the county’s intention to appoint “one or more” representatives to a committee that would develop details of the TIF. The commissioners did not name a representative, but Commissioner Jim Hertzler said he would like county director of planning Kirk Stoner to be appointed.

Hertzler and commissioner Gary Eichelberger voted for the motion; commissioner Barbara Cross was absent.

The TIF would help finance improvements to make the industrial site, which is the subject of a redevelopment plan led by the borough and landowner Carlisle Events, palatable to future developers. The borough plans to widen Fairground Avenue for two-way traffic, connect A through D streets across the property, and make stormwater management improvements at the location.

Carlisle Borough Council President Perry Health told the commissioners Thursday that the site should be cleared and pad-ready within 30 days.

Possible plans for the property include a grocery store, a hotel, smaller shops, residential housing, and parking.

Under the TIF, the land’s taxing entities would forward a portion of future tax revenue to make payments on any debt incurred to improve the condition of the property. Total public improvement costs will likely approach $50 million, and the value of the property after improvements could be about $65 million, said Jonathan Bowser, CEO of the Cumberland Area Economic Development Corp.

The TIF committee would would work on details of the financing strategy for the project, Bowser said.

The borough presented the invitation to join the TIF committee to the Carlisle Area School District in June, and the school board may vote on a similar resolution July 16.

About $5.2 million in grants have already been received for the project, Heath said. The borough is also seeking a multimillion-dollar federal grant to assist with costs.

Source: Central Penn Business Journal