Greenwood RDC accepts annual financial report, authorizes Gateway submission

The Greenwood Redevelopment Commission reviewed and approved its annual report on redevelopment finances and authorized staff to submit the report to the state’s Gateway portal before the April 15 deadline.

Financial staff summarized commission‑wide activity for the reporting period: total receipts across all RDC funds totaled $28,017,331 and expenditures totaled $29,896,370. The cumulative cash and investments on hand were reported as $22,902,467, of which $9,962,955 was identified as surplus or unrestricted to specific bond repayment. Staff said the commission accounts roll up across 13 active allocation areas and 1,574 parcels.

The staff presentation listed four allocation areas with related debt (Fry Road, US‑31 Eastside, Central Expansion, and Forestville Road) and reported total principal outstanding of $63,652,000 as of the February reporting date. Packet figures also indicated a base assessed value of $456,000,000 producing tax increment revenues and incremental value created of about $767,000,000.

Staff explained that certain historic allocation areas were replaced—specifically earlier I‑65 East allocation areas were inactivated and replaced with County Line Road/I‑65 allocation areas—because prior planned projects did not proceed and state statute changes affected expiration dates.

Staff recommended the commission approve the report so it could be uploaded to Gateway; the commission voted to approve the report. No dissenting votes were recorded.

Staff noted upcoming work the commission will address on a future agenda, including an annual determination of excess assessed value.