COLUMBIA CITY — For the last several months, Columbia City has been working to purchase the former Eagles Lodge in downtown Columbia City.
Columbia City’s Common Council agreed last week to move some additional money from the city’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.
“We just want to make sure the appropriate dollars are used for the purchase of that property,” 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 doesn’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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