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Council approves HUD consolidated-plan submission, temporary redevelopment loan and TIF pruning; tables ordinance, withdraws appropriations
Summary
Terre Haute City Council on Thursday approved submission of the city’s 2025 HUD consolidated plan, authorized a temporary Redevelopment Commission loan of up to $2.5 million and approved pruning selected parcels from two TIF districts; the council also tabled a drug-and-tobacco ordinance and accepted withdrawals of two staffing appropriations.
Terre Haute City Council on Thursday approved three formal measures: a resolution authorizing submission of the 2025 consolidated plan for HUD funding (CDBG/HOME), a resolution authorizing a temporary revolving loan of up to $2.5 million from the Terre Haute Redevelopment Commission, and a resolution pruning selected parcels from two tax-increment-financing (TIF) districts. The council also voted to table General Ordinance 16-2024 until Jan. 9, 2025, and accepted withdrawals of two staffing-related ordinances/appropriations.
Why it matters: The consolidated plan sets the city’s priorities for federal housing and community-development dollars and makes the City of Terre Haute eligible for HOME and Community Development Block Grant (CDBG) funding. The temporary loan option is intended to avoid bank interest costs on a tax-anticipation warrant (TAW) by giving the city short-term access to redeveloper-held funds, and the TIF “pruning” is intended to improve district financial performance by removing parcels that currently create…
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