Cumberland study to explore potential for business growth, building tax base

Mar 4, 2010 — The Indianapolis Star

Bill McCleery

Mar. 4, 2010 (McClatchy-Tribune Regional News delivered by Newstex) -- Cumberland is serious about luring more businesses to town to broaden the tax base and fuel future growth.

Town officials are so serious about their plan -- particularly for the stretch along U.S. 40 from Carroll Road to Mount Comfort Road -- that they've budgeted $50,000 to study the possibilities, said Christine Owen, the town's planning director.

Owen said that last week she asked consulting firms for proposals to assist the town in creating "an economic and/or redevelopment project area" that would emphasize the portion of the town lying in Hancock County. Cumberland straddles the Hancock-Marion county line.

More businesses in Cumberland would mean lower property tax rates for homeowners, she added.

"The diversification of the tax base with commercial and industrial properties would result in lowering the overall taxes for residential property owners," Owens said.

Officials might also study prospects for the western portion lying within Marion County, she said, although that half of town is already mostly developed.

Cumberland planning officials have less authority over development in that part of town since it also falls into the jurisdiction of the Indianapolis-Marion County Metropolitan Development Commission.

Wherever it occurs, any future commercial development in Cumberland needs to blend in with the town's historic character, Owens said, as well as its location along U.S. 40 -- also known as the National Road corridor, which is the focus of a $1.3 million streetscape project under way.

Town officials' vision received a boost Feb. 3 when the commission designated the St. John's United Church of Christ building, at the northeast corner of East Washington Street and German Church Road, as a historic area.

The designation means the Tudor Gothic Revival-style building, completed in 1914, cannot be structurally altered without permission from the Indianapolis Historic Preservation Commission.

Two previous church buildings stood at the same site, with the first constructed in 1855. The church was founded by German settlers and inspired the naming of German Church Road.

If Cumberland creates a special economic development zone, Owens said, officials would look into additional strategies such as establishing a tax-increment financing area.

Under such a TIF designation, all increased property-tax collections related to improvements at the sites would be funneled directly into paying the costs of new infrastructure, such as roads and drainage devices, necessary for the development.

Town Manager Jeff Sheridan said he is excited by the town's opportunities.

"U.S. 40 is the town of Cumberland's main street," Sheridan said. "We want to guide and develop more of a Main Street commercial area. That is the next step in the process of Cumberland growing and improving."

Like Owens, he said a more vibrant commercial district would help alleviate the tax burden felt by residential property owners.

"All communities want to have a diversified tax base," Sheridan said. "Our mix of residential to commercial is higher than we would like. We're hoping to increase the commercial and even open the door for some light industrial."

The town has set a deadline of April 2 for the consultants' proposals and will select a firm on April 27, when Cumberland's Redevelopment Commission meets, Owens said.

Newstex ID: KRTB-0095-42583585