Welcome to the Beech Grove Community Planning Week. The City of Beech Grove is currently undergoing the development of a Comprehensive Economic Development Plan that will help establish a vision, principles, and actionable recommendations for Beech Grove’s future. Tonight’s activities will help the City:

1. Establish a long-term vision (20-year outlook) to guide growth and economic vitality

2. Strengthen Beech Grove’s identity as a place to live, work, and invest

3. Align development and redevelopment efforts with community values and priorities

4. Set goals, policies, and programs to drive development

5. Identify key areas for redevelopment to attract new businesses, residents, and investment

6. Define strategic land use to determine how and where development and redevelopment occurs

7. Outline economic initiatives to retain and expand business, foster innovation, and improve business climate

8. Serve as a framework for policy decisions

This community workshop format is informal. You are encouraged to review the boards, participate in the activities and provide input, and talk to the project team at your leisure. City of Beech Grove staff and members of the consultant team are available to answer questions.

Thank you in advance for your participation!

It is a long-term strategy required by Indiana's Tax Increment Financing Program (TIF) to support redevelopment projects, and economic development, and increase the ability of Indiana communities to compete with other communities throughout the state and nation

The plan helps increase jobs, improve wages, increase the tax base, enhance quality of life, diversify businesses, and improve the economic development/redevelopment of the region

Many other communities have and use this tool:

- there are 1,382 TIF districts in Indiana (2023)

- 301 in Counties

- 1,081 in Cities and Towns

• Tax Increment Financing (TIF) is a tool for capturing taxes on new commercial development, which can be used to fund new public infrastructure improvements.
• TIF is only captured within specific districts or allocation areas, which are established for 25 years
• TIF revenues are managed by a five-member Redevelopment Commission (RDC) that a local government establishes
• TIF revenue can be used to fund a variety of project types that benefit the City and TIF district, including:
  • Acquisition and/or construction of projects and/or properties to enhance the cultural attractiveness of the entire unit and/or incent development, including in the Economic Development Area
  • Enhance public safety