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Redevelopment Commission approves 2024-25 annual report and 2026 tax-increment determination resolution
Summary
The Hammond Redevelopment Commission accepted its 2024 annual and overlapping units report, and approved a resolution determining tax-increment matters for the 2026 budget year after a staff presentation; both votes were unanimous.
The Hammond Redevelopment Commission on April 1 approved its annual redevelopment and overlapping units report for 2024–2025 and then approved a separate resolution concerning the 2026 budget-year determination for tax increment within the commission's allocation areas.
Daniel Dalton of Dalton (presenting in place of a colleague) summarized the statutorily required annual report, which lists commission members, staff compensation, fund balances, outstanding debt and parcels in each allocation area. Dalton said tax increment is received twice a year, in June and December, and pointed commissioners to the report’s fund-balance table and the exhibit listing county and local tax rates. He noted the report includes an analysis of captured assessed value and a “but-for” style tax-impact discussion; during the presentation he referenced roughly $300,000,000 of captured assessed value while discussing the complexity of estimating impacts.
Dalton also said the full parcel listings would be posted on the state Gateway website and recommended commission approval. Commissioner Tomage made the motion to approve the annual and overlapping units report; Commissioner Myricks seconded. The roll call was five in favor, none opposed.
After the report vote, the commission considered a resolution described in the meeting as "resolution number 20 1 25 dash 0 4," concerning the 2026 budget year determination for tax increment in the commission’s allocation areas. Commissioner Myricks moved approval; Commissioner Tomage seconded. A roll call vote was five in favor, none opposed.
Commissioners did not request additional changes to the documents at the meeting. The presentation and votes complete the commission's statutorily required reporting and a related budget-year determination; the report and resolution will be posted as indicated in the presentation.
