CEDAR LAKE | The Town Council has created funds for incoming tax money.
In the first action, the council created a non-reverting fund for the County Economic Development Income Tax. The town will be collecting $17,000 per month in CEDIT money this year.
The council also established a Public Safety Town Adjusted Gross Income Tax Revenue non-reverting fund. Money for this fund will be $13,500 per month.
Money for both funds derive from the Lake County Income Tax, passed last year by the Lake County Council.