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The City of Warsaw is exploring the creation of two residential tax increment financing (TIF) districts in order to promote new market-rate workforce housing in Warsaw and Kosciusko County.
A residential TIF district would enable Warsaw to collect taxes generated from new residential developments within the proposed district. That tax revenue is then used specifically and only for improvements within that district to provide growth and amenities to that area. TIF does not increase or change property taxes of existing properties within the district.
The primary intent of the newly proposed residential TIF districts is to develop single-family residential market-rate housing units needed to support workforce development within Warsaw and Kosciusko County. The districts would enable the City to attract new residential development by constructing infrastructure, acquiring land for development, rehabilitating real property for development, and preparing real property for development. Residential TIF districts would also support walkable neighborhood developments in order to promote housing opportunities within Warsaw, specifically targeting growth within the Warsaw Community Schools district.
Maps of the two proposed districts are below.
Interested residents and or associations may contact the Warsaw Building and Planning Department at (574) 372-9550 for information concerning the TIF district process.