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Speedway panel votes to retain TIF increment, will not pass through funds this year
Summary
The Speedway Redevelopment Commission on June 9 approved Resolution 2025-05, determining not to pass through any tax increment financing (TIF) excess to taxing units after a review found none of its districts exceeded the 200% threshold required for pass-through.
The Speedway Redevelopment Commission voted unanimously June 9 to keep incremental tax revenue inside its tax increment financing (TIF) districts for the 2025 filing year, approving Resolution 2025-05.
Economic Director Kyle Markley told commissioners the Department of Local Government Finance (DLGF) requires a determination by June 15 each year on whether any excess TIF increment meets a pass-through threshold. "This resolution is to state that we are going to keep the money in the TIF and not…
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