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Hamilton County RDC approves annual 20% TIF pass-through to Westfield Village Park allocation area
Summary
The Hamilton County Redevelopment Commission approved a resolution to pass through 20% of tax-increment financing to the Westfield Village Park allocation area as required by an existing interlocal agreement; commissioners were told the action will not hurt debt service and must be filed with the auditor today.
The Hamilton County Redevelopment Commission approved a resolution to pass through 20% of tax-increment financing (TIF) collections to the Westfield Village Park allocation area, commissioners said at a meeting where municipal advisors urged immediate filing.
The resolution, described as “resolution 6 13 25 0 1” in the meeting agenda, implements a yearly pass-through required by an interlocal agreement between the Redevelopment Commission and the City of Westfield and is filed under state reporting requirements. "This is a pass through letter that you have done every year," Oscar Gutierrez, Boundary Consulting, municipal advisor to the Redevelopment Commission, told members. "Today is the last day that you can do it. So I beg that you pass this and sign it today so the auditor can file the DLGF."
That pass-through equals 20% of the allocation area receipts, Connor, a staff member, said, and commissioners were told the distribution does not negatively affect debt service for bonds tied to the Westfield Village Park allocation area. Commissioners asked procedural questions about related TIFs, including reference to legacy parcels around 140 Sixth Street and whether any TIFs had been extended; staff said some historical TIF areas had been split or renewed under prior rules and that any extension would require agreement with the City of Westfield.
Asked whether the auditor had the necessary documents, Connor affirmed that an additional notice letter would be sent to underlying tax units and that bond and reporting requirements had been coordinated with the auditor. After discussion, the commission voted to approve the resolution; President Zarate called for the vote and the motion carried.
The municipal advisor also reminded the commission of the filing schedule and reporting deadlines for the Redevelopment Commission: the next required filing will be in November, and staff suggested scheduling claims or updates around August–September ahead of that deadline.
