The Lafayette, Indiana City Council has approved the issuance of up to $6.5 Million in TIF Bonds to partially pay for the construction of a fiber-optic network in Lafayette, West Lafayette and parts of unincorporated Tippecanoe County.  It is anticipated that West Lafayette will issue an additional approximately $2.5 Million in TIF Bonds for the Project.  The Bonds will be paid over 25 years from increment generated by the fiber-optic infrastructure investment.  The project will be constructed by Metro FiberNet and is estimated to cost approximately $60 Million.

Lafayette, West Lafayette and Tippecanoe County have worked to jointly establish a TIF District for this Project.  Unlike a typical TIF District, which is a designated geographic area, the TIF District for this Project will consist only of the fiber-optic infrastructure.

The municipalities believe that providing fiber-optic cable will act as an economic development tool, bringing new business and industry to the area and providing existing businesses with faster Internet capabilities.  In addition, after the Project is completed, residents of these areas will be able to subscribe to fiber optic internet, telephone and television services.

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