The Shelbyville plan commission and city council already have approved creating a fourth TIF district, and the redevelopment commission has power to lend final approval.
Shelbyville's newest TIF district would be near the horse-racing track at the Fairland exit on Interstate 74. The track is being renovated with the addition of slot machines.
About 650 people in the area have signed a petition opposing the district, which would use taxes collected in the area to fund infrastructure improvements rather than going toward schools, libraries and fire districts.
In addition to the track, the 1,000-acre TIF district would include a gas station, warehouse and former recycling center, among other properties.
Although the exit is near the town of Fairland, the proposed district is within Shelbyville's city limit.
The new district would be financed by about $13 million in revenue bonds issued by the redevelopment commission, to be paid back within 30 years.