Whitestown RDC approves TIF corrections, creates Padgett Commons EDA and consolidates several TIF districts

Whitestown Redevelopment Commission members approved a package of tax-increment financing (TIF) adjustments on April 7 intended to support the town's "Padgett Commons" development and the debt structure that will back related redevelopment authority bonds.

The commission voted, 3-0, to amend a prior pledge of tax-increment revenues to correct which parcels were included; to adopt a declaratory resolution removing parcels from the Whitestown INDOT Economic Development Area and establishing the Padgett Commons Economic Development Area and Allocation Area; and to consolidate several existing economic development/allocation areas into a new I-65 Consolidated Economic Development Area. The commission also introduced — but did not vote on — a resolution that would approve the lease structure to be used in issuing redevelopment authority bonds.

Todd (staff member) told commissioners the amendment to the existing pledge resolves a drafting error in the original 2022 resolution that misidentified which lots would be developed…