SCHERERVILLE | The Town Council already has shown its support of the proposed Shops on Main development, and the Plan Commission has started to review plans for the highly anticipated project.
Developer Bruce Boyer, of Boyer Properties, on Monday provided the Plan Commission with an overview of the development, which would bring high-end shopping and restaurants to 34.5 acres of property near the southeast corner of U.S. 41 and Main Street.
Boyer said his intent is to "build the best thing in Northwest Indiana."
Boyer said he will seek the commission's approval to rezone the property to a planned unit development as well as subdivision approval for the project.
He said the development will bring improvements to intersections around the property. A new traffic signal will be installed on Main Street, he said.
Pedestrian walkways also will be included in the development.
Shops on Main businesses haven't been revealed yet.
Boyer said an initial concept for Shops on Main received town approval several years ago, but those approvals expired because the project stalled. Boyer must go through the approval process again to proceed with the development.
Monday's study session was the first of many Commission president Bill Jarvis expects to discuss Shops on Main.
"I'm glad to see we have some movement on this project," Jarvis said.
About two weeks ago, the Town Council authorized a financing agreement with Boyer.
The agreement uses tax increment financing districts to assist with financing. The town will issue $19 million in debt, which will be paid off by the tax revenue generated by the Shops on Main project.
The debt will not result in additional costs to taxpayers.