Two Indianapolis-based construction companies' have submitted bids for the former Terre Haute police headquarters property on Wabash Avenue.
They propose mixed-use developments at Wabash Avenue and South 12th Street, the site of the former THPD station.
The Terre Haute Redevelopment Commission took those bids under advisement Wednesday.
Mizak-Terre Haute LLC, created by WDG Construction as a separate corporate agency to handle this project, submitted a bid similar to the one it offered in May of 2022. Its proposal was accepted then, but the group could not locate financing for the project and the Redevelopment Commission had to start over from scratch.
Mizak pledged an investment of $12.4 million on its project. It said it has financing in place this time.
Flaherty and Collins Properties' bid called the location a "cornerstone of growth" and promised expanding parking in the area to surpass 182 parking places. Its investment on its proposal would be $37 million.
Commission members received packets from both companies, which they will pore over until their Dec. 18 meeting, when they will select who they will turn the property over to.
In other business, the commission removed a few properties from the Central Business District that local government had designated for Tax Increment Financing. TIF is a public financing method that uses future property tax revenue increases to fund community improvement projects in underperforming areas. The decision will now go to the Vigo County Area Plan Commission for further discussion.
Jordan Marvel, Terre Haute Redevelopment Commission executive director, said, this is "a routine step to optimize the TIF district's performance."
"It's just that the properties are now being assessed lower than what their base assessed value was," he added. "With the way the TIF districts work, everything gets assessed at its base assessment level the first time. The next time it gets assessed, everything above that assessed value is called the increment — that's where Tax Increment Financing comes from."
The second resolution was a “change order” for the street infrastructure improvement project at 11 1/2 Street and 12th Street from Hulman Street to Seabury Avenue.
"Most of the times, change orders occur often due to unforeseen site conditions and design adjustments," Marvel said. "This is one of those cases." The resolution was approved in order to remove nine trees from the nearby roadway.
The Commission also introduced its updated 2025 Consolidated Plan for the city, rewritten so the city can continue to apply for Department of Housing and Urban Development entitlement funds, which will help continue improvements in the southwest area of the city.