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Commission confirms bond closing, moves forward on sewer design, school‑property appraisals and federally funded lighting review
Summary
Commissioners said $8.4 million in bond proceeds were received and are held by a trustee; staff described easement acquisition and design work for sewer projects, authorized appraisals for a surplus school property (not to exceed $10,000), and updated the commission on a federally funded lighting project undergoing environmental review.
Commission staff told the Sellersburg Redevelopment Commission on Sept. 24 that the town closed its sewer bonds on Aug. 20 and is in possession of $8,400,000 in proceeds that are currently held by a trustee and not shown in the commission’s TIF cash balance. Staff said the funds will be available for upcoming sewer projects once the town draws on trustee-held bond accounts.
Staff described next steps for two large projects funded by the bond proceeds. Design for the primary sewer pathway is complete, and staff said they are in the easement acquisition phase; staff expect to refine design details as easements are finalized and aim to begin construction in early spring (calendar year not specified) pending easement completion. The Ivy Tech pump station project is also in easement acquisition; once easements are obtained construction is expected to begin and bond funds will be drawn.
Commissioners also discussed a surplus school property that the commission has considered acquiring for reuse. Staff reported an open house held over the weekend drew roughly 25 to 35 attendees and that the town would likely need a sequence of resolutions (town council and redevelopment commission) to transfer title if the town pursues acquisition. The commission voted, 4‑0, to authorize staff to hire two appraisers with a not‑to‑exceed combined budget of $10,000 to complete the appraisal work required for an RFP or transfer process. Staff estimated typical appraisal costs at $1,500–$3,500 per appraisal and said the commission would set any minimum offering consistent with RFP rules (the base offering would be the average of two appraisals if the town RFPs the property).
Separately, the commission received an update on a federally funded street‑lighting safety project. Staff said the project received federal funding through INDOT but must complete environmental assessment documentation before INDOT will let the project. The consultant (SJCA) is preparing documentation; staff said the environmental process can be lengthy and often takes eight to 12 months, and that INDOT currently has a bid letting scheduled for Feb. 27 (year not specified during the meeting). Staff estimated the environmental documentation cost at about $12,000 and said the grant covers roughly 90% of the construction estimate that was previously discussed.
The commission did not approve additional appropriations at the meeting; staff said they will return with updated appropriation reports and next steps as easement and environmental processes proceed.
