NEW HAVEN, Ind. (WPTA) – Leaders with Grace Gathering, the church that was set to sell a portion of its land for the ‘Fields of Grace’ project, announced that they’ve been notified by the city and developers that the project is going in a different direction.
The news release, posted to the church’s website, details what caused the change of plans, citing Senate Bill 1, Indiana’s latest budget bill, as the main reason.
They say a provision in the bill removes a city’s ability to issue municipal bonds funded by local income tax (LIT), which, in this case, means that Card & Associates, the developer behind the project, lost a significant portion of funding for the project…