FORT WAYNE, Ind. (WOWO): A project to build a new hospital in downtown Fort Wayne has taken an important step forward.
The Fort Wayne Plan Commission has given its approval towards creating a new tax increment financing district – also known as a TIF district – for the new Lutheran Downtown Hospital, which will replace the nearby St. Joseph Hospital when it’s complete.
TIFs capture property taxes within a development’s specific region, then those dollars can be used for further public improvements.
The Journal Gazette reports that Lutheran Health Network plans to use that money to reimburse themselves for $3.82-million in public infrastructure costs.