Peru council establishes 'Home and Heritage' TIF allocation area despite public concern; vote 3‑2

The Peru Common Council voted 3‑2 on July 6 to adopt Resolution 7‑2026, establishing a tax‑increment financing allocation area the Economic Development Authority (EDA) calls "Home and Heritage." Council debate centered on whether the allocation-area step effectively advances a specific senior‑housing project proposed for an IvyTech property and concerns about public notice.

Jim Tid of the Miami County Economic Development Authority told the council the resolution is a procedural prerequisite that establishes the allocation area only; it does not approve any particular project, reimbursements, or incentive amounts. "Tonight we're not here to talk about any particular project or the amount of reimbursement," Tid said, adding that subsequent approvals would return to the council and the EDA will hold a public hearing July 22.

Concerns from other council members were direct. One member, Pete, said there was "a concern about the communication regarding this project that is trying to be slid in and not allow the public to understand what is going on," and asked whether the allocation was linked to a proposed three‑story, 55+ apartment complex. Tid confirmed the allocation-area name and early consideration align with that proposed reuse but emphasized the allocation area alone does not approve construction. Council members also discussed that any developer seeking state tax credits would need the allocation area as part of an application and that the state decision would not arrive until November.

Why it matters: establishing the allocation area allows the city and EDA to use future tax increment to assist qualifying projects inside the delineated area, but it does not set incentive levels or approve uses — those would require follow‑up votes. Opponents urged clearer public notice and reminded the council that the sale of the IvyTech property is a separate, negotiated transaction.

The council adopted Resolution 7‑2026 on a 3‑2 roll‑call vote. The record shows three yes votes, two no votes. Tid said the EDA will hold a public hearing July 22; any incentives or project‑specific reimbursements would return to the council for approval.

Quotations:
"This does not approve any project. This does not approve any sort of reimbursement," Jim Tid said while presenting the measure.

"There is a concern about the communication regarding this project that is trying to be slid in and not allow the public to understand what is going on," said Pete, who pressed for transparency.

Next steps: EDA public hearing July 22 on the allocation-area establishment; subsequent council consideration of any project‑level incentives or reimbursements if an applicant seeks TIF support.