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News-Sentinel.com Your Town. Your Voice.

Newest Kroger could be designated as tax-improvement district

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.The Associated Press
Monday, October 15, 2012 08:50 am
Kroger's newest Fort Wayne store will do more than provide more options for shoppers. It will apparently also provide more money for trails and other improvements in southwest Fort Wayne.The Fort Wayne Redevelopment Commission on Monday was expected to consider a proposal that would lead to the designation of the new Kroger Marketplace store and parking lot, located at 5725 Coventry Lane, a tax incremental financing district (TIF).

The designation could generate about $150,000 annually.

Redevelopment Director Greg Leatherman said the money would be used to develop a pedestrian/bike trail from Homestead Road to the store near West Jefferson and Interstate 69. That project is expected to cost about $600,000.

A TIF designation would allow the city to use property taxes generated by improvements to pay for improvements within the district. Later on, Leatherman said, TIF funds could also help create a new entrance near the Village at Coventry Shopping Center, where Kroger is the major tenant.

The 127,000-square-foot Coventry store, Kroger's second Marketplace facility in Fort Wayne, opened earlier this month at a cost of more than $13 million.

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