Commission reviews TIF balances, cash flow and several major projects including $30 million wastewater estimate

The redevelopment commission reviewed May, June and July financial reports and a consolidated cash-flow projection showing current TIF balances and a list of projects under consideration.

Christopher (finance staff) summarized the reports: the estimated cash balance for the integrated TIF at May was about $3.8 million and $873,000 for the US 31 TIF. He said June disbursements included $3,254,666, an amount higher than the previous year largely because two significant properties that had not paid in the prior year had paid and incurred penalties. Christopher reported year-to-date expenditures through June of $3,219,000 and remaining appropriations of $5,113,000.

Commission discussion then turned to large capital projects and timing. Staff reported the wastewater treatment plant expansion received the first of two bids and “that will be through a bond.” The mayor said the total wastewater project is expected to be about $30,000,000 “when it's all said and done.” Matt McElroy provided an engineer’s estimate for the West Side sewer interceptor of $14,600,000 and reiterated that the interceptor is intended to take load off the US‑31 sewer, which is nearing capacity.

Commissioners discussed the Graham Road reconstruction and related right-of-way and inspection costs; several components of Graham Road work are now projected for 2026. The mayor also said he was in talks with county commissioners and a county redevelopment commission member about a building across the street that could present a joint opportunity for a downtown parking garage project.

The mayor highlighted a private investment by Malarkey of about $200,000,000 and credited the company with funding adjacent road improvements (Essex Drive and Paul Hann Road), which the mayor said reduces the city’s infrastructure burden. Staff also mentioned a proposed new DPW building (billing/IT separation) estimated at about $1.5 million.

Commissioners were shown a consolidated cash-flow table that lists approved resolutions and the remaining balances on those line items; staff updated the list of projects under consideration and moved some work to 2026. No new bond authorizations or ordinance actions were taken at the meeting; staff said projects will be refined for future budget and bond considerations.