City Preps to Bid Standard Avenue & Front Street Renovations
Sunday, August 20, 2006
The Whiting Redevelopment Commission has approved the bond financing for the reconstruction of Standard Avenue from Front Street to the east City limits, for Front Street from 121st to 119th Street and for 121st Street from Schrage Avenue through the refinery to Standard Avenue. The estimated cost of $8,500,000 will be funded through the sale of TIF (Tax Increment Financing) Revenue bonds and through a $1,300,000 federal grant. The bonds will be paid back out of industrial property tax revenue and will not impact residential or commercial property tax rates. This project which will include new water and sewer lines, will allow the City to develop nearly 60-acres of vacant industrial property along Standard Avenue.