A tax increment funding plan that could result in the completion of University Drive was approved by the Marion County Commissioners on Thursday.
Commissioners Andy Applefeller and Josh Daniels voted to approve the TIF. Ken Frayer voted against the proposal.
Under the agreement, for the next 30 years service payments will be put into a redevelopment fund instead of taxes. Also agreed to was 75% of each improvement from real estate taxes will be paid to the River Valley School District.
Mark and Kelly Lawrence, along with the Richard and Donna Lawrence Trust, donated the land to run from the north end of the former East Lawn Manor to State Route 309.
The cost to the county for the agreement is $116,000.
