Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tax Increment Financing Tif topic
No spam. Unsubscribe anytime.
Redevelopment commission hears 2025 TIF annual report; no formal vote required
Summary
Emma, a consultant with Baker Tilly, presented the Lebanon Redevelopment Commission’s 2025 tax-increment-financing annual report and said the report fulfills state reporting requirements that must be filed to the state’s Gateway portal by April 15.
Emma, a consultant with Baker Tilly, presented the Lebanon Redevelopment Commission’s 2025 tax-increment financing annual report and said the report fulfills state reporting requirements that must be filed to the state’s Gateway portal by April 15.
The presentation summarized the commission’s multiple TIF allocation areas, noted two new allocation areas added since last year—New Cold Phase 3 and Project Leap Phase 1—and reviewed revenues, expenditures, trustee-held accounts and outstanding bonds. Emma said the Fieldhouse allocation area showed roughly $6,700,000 in bond proceeds and related expenditures for infrastructure phases 1 and 2.
The report covered the industrial park TIF (created in 1994), several single-site developer allocation areas and named examples including Building 11 (Scott Barrett), Fibrinet, the GDI building on State Road 32 and Gateway Marketplace. Emma said the Waterford housing TIF exists but that “no houses have been built or sold in that TIF area.” She also said the commission did not distribute TIF funds to other taxing units in 2024.
Emma told commissioners the office sent an Excel workbook with individual fund balances to Tanya, the city staff contact, and that the full packet will be uploaded to the Gateway portal after the council sees the presentation. “We sent Tanya the PowerPoint presentation, and it is also on… Gateway,” Emma said.
Commission members did not take a formal vote to adopt the report. The commission chair asked that the presentation be acknowledged in the commission minutes and that a copy be presented to the city council; the presenter confirmed those steps satisfy the statutory presentation requirement.
After the presentation the commission handled routine business. The commission approved claims by voice vote; no roll-call tally was recorded in the transcript. The meeting concluded after a motion to adjourn carried by voice vote.
The presenter offered to answer commissioner questions on the 2024 activity and noted additional details were available in the Excel file and parcel lists provided to Tanya.
