The city of Hammond is looking to tap into some major developments to upgrade the area around City Hall.
Mayor Tom McDermott Jr. says the Swanel Beverage expansion and the U-Haul project will bring a big increase in property tax revenues. He wants to set aside that increase for improvements in the area, a process known as tax increment financing (TIF).
"And that increment we get over there, we could use to beautify this area right next to City Hall, this area to the south of us right next to City Hall, so this is vital," McDermott told the city council last week.
As part of the process, the city plans to create a new City Hall Redevelopment Area, covering both sides of Calumet Avenue from 150th to 165th. The city council last week passed a resolution removing some of that land from the existing East Hammond Urban Renewal Area, so it can be put in the new redevelopment area.
McDermott said the Swanel and U-Haul projects don't depend on the designation, but it would set money aside to redevelop the rest of the area.
