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COLUMBIA CITY â€” For the last several months, Columbia City has been working to purchase the former Eagles Lodge in downtown Columbia City.
Columbia Cityâ€™s Common Council agreed last week to move some additional money from the cityâ€™s TIF (Tax Increment Finance) account into the TIF budget for the purchase of the building.
Initially, the city had approximately $88,000 allocated for the purchase, but needed to move an additional $62,000 into the TIF budget.
â€śWe just want to make sure the appropriate dollars are used for the purchase of that property,â€ť Columbia City Mayor Ryan Daniel said.
The city is using $150,000 from the TIF budget, and the Columbia City Redevelopment Commission (RDC) will use $13,000 from its general fund to buy the property.
Daniel said since TIF money doesnâ€™t have to be advertised and reviewed by the state, the council was able to approve the motion at the meeting, and money was put in place to make the purchase.
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