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The LaGrange City Council has signed off on a new Tax Allocation District (TAD) that could bring a new hotel downtown.

In late October, the Redevelopment Authority of LaGrange unanimously recommended the creation of the South Bull Street District TAD, which will be TAD #7 for the city and potentially help create a second downtown hotel, retail/office space, housing and parking to support the amenities downtown. 

Plans for the development would create apartments in the downtown area and retail space underneath, as well as potentially another downtown hotel. The proposed development is projected to include 100 Hotel rooms, 595 residential units, 34,500 square feet of retail space and 15,000 SF of office space.  

The developers requested a pay-as-you-go TAD, where they will receive a refund on the increased taxes as the property value goes up, which would be used to repay financing for the project over 20 years. 

After the TAD, the taxable assessed property is expected to have grown by $81.4 million. 

The city will reimburse the developers for the increased taxes that would be collected from the area due to the improvement through the TAD. The money will then help pay for the parking decks and support infrastructure downtown.

The council also approved changes to the Mill Creek Station TAD, TAD #2, off of Davis Road, as recommended by the LaGrange Development Authority.

Public hearings were held for both issues, but no one from the public commented for or against the measures.