Terre Haute Airport Works Through Financial Issues

Terre Haute Regional Airport officials said Wednesday tax increment finance funds will be important for future improvement projects. But just how much the airport will have for the remainder of 2020 is yet undetermined.

The board Wednesday adopted a resolution stating it did not have excess tax proceeds from its TIF district, an annual requirement under state law.

Board attorney Scott Craig said the airport will need TIF funds to pay for six new box hangars, three of which are now under construction, as well as expenses for airport apron improvement projects.

The airport also will have to reimburse Vigo County for a tax appeals payment to Meijer, which is in the airport's TIF district.

Meijer first filed an appeal before the Indiana Board of Tax Review concerning it's $14.2 million initial 2015 assessment of its then-new 175,320 square foot store on Indiana 46/US 40. Vigo County Assessor Kevin Gardner said the company won tax appeals through 2018.

The Michigan-based chain grocery has been paid $597,136 by the county, said Cheryl Loudermilk, Vigo County's chief deputy auditor. Of that, $536,006 was distributed to the airport's TIF district. The airport still owes the county $239,546 from TIF funds. The remainder paid to Meijer was from taxes that went to the county and some townships, Loudermilk said.

Gardner said the company agreed to not seek interest costs on its tax payment under an agreement with the county. The grocery is also appealing its 2019 pay 2020 tax assessed evaluation.

Reporter Howard Greninger can be reached 812-231-4204 or [email protected]. Follow on Twitter@TribStarHoward.

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