Boone County Council on a vote authorized the council president to sign a letter supporting a request for an economic development payment (EDP) tied to an existing memorandum of understanding (MOU) with the Indiana Economic Development Corporation (IEDC).

County Attorney Beth Copeland told the council the county entered into an MOU with IEDC on Nov. 15, 2024, that requires any EDP request to identify (1) the project to be funded, (2) the nexus to development activities, (3) the amount requested and (4) the budget or funding account to which the payment would be directed. Copeland said the commissioners prefer a joint approach between executive and legislative branches and that she had prepared a draft letter for council signatures once final details are confirmed.

Copeland said the payment coming from IEDC would be designated an “economic development payment” rather than a tax and that the MOU forbids calling it a pilot tax. She told the council the IEDC contract under discussion for a comprehensive-plan-related contract is for $400,000 and that the EDP, if approved, could help fund the county’s comprehensive-plan update.

After legal briefing and discussion about where any received funds would be recorded and appropriated, Council moved and passed a motion to empower the council president to sign the support letter on behalf of the council. The motion was made, seconded and carried by voice vote.

Why it matters: The action commits the council to a formal, documented request path consistent with the November MOU and begins the county’s internal planning for routing any EDP payment through the general fund and then into a restricted fund or appropriation for its intended use if, and when, the payment is received.

What the council said: Copeland described the MOU obligations and the need to identify budget accounts for any EDP payment. “We are to specifically identify the project for which funding is to be created, describe the nexus or relationship of the project to the development activities, identify the amount and which budget or funding accounts that that EDP payment will be directed,” Copeland said.

Next steps: Copeland said she will finalize the draft letter and share it with council; Auditor Crum and Copeland discussed how the EDP would appear in county accounts and the likely need to establish a rebating or restricted fund for the payment once received. The council did not appropriate any dollars at this meeting; it authorized only the signature of the letter of support.