Consultants present Delaware County annual TIP report; bond obligations and TIF collections reviewed

Matt Eckerley, principal at Baker Tilly, presented the Delaware County Redevelopment Commission's annual Tax Increment Plan (TIP) report during the commission's March 13 meeting, laying out revenue estimates, outstanding bond obligations and proposed projects across the county's allocation areas.

The presentation matters because the county uses TIF revenues to pay bonds and fund infrastructure projects; changes in assessed value, delinquencies or state law could reduce money available for road, sewer and economic-development work.

Eckerley said the Morrison Road allocation area (a legacy allocation area established before July 1, 1995) carries two series of outstanding bonds: refunding TIF bonds issued in 2021 with about $3,821,000 of principal outstanding and 2021 new-money bonds with about $5,208,000 outstanding. He told the commission that the county collected roughly $1.5 million from Morrison in 2024 (above prior estimates) but currently estimates about $895,000 for 2025; after scheduled debt service the area will likely have about $230,000 available for other projects this year. "You have about $3,821,000 of outstanding principal left on those" bonds, Eckerley said during the presentation.

The…