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Commission discusses Zionsville TIF excess funds and possible uses including a roundabout and fire station work
Summary
Commissioners discussed estimates of excess funds in the Zionsville TIF and potential uses — including a roundabout and a renovation or replacement of a Ford Road fire station — but took no formal action.
Members discussed available and projected excess funds in the Zionsville TIF area and potential projects that town leaders had considered, including intersection improvements and a fire station renovation or rebuild.
During the discussion a commission member estimated the TIF’s excess balance “between half a million and a million dollars,” and another said it was “closer to a million now.” A staff member later estimated the balance she last checked as “probably 850 to 900,000.” The participants also discussed projections that the TIF area would wind down in the late 2020s, with one participant saying the TIF is ‘‘gonna be done in 2, 3 years’’ and another reference in the meeting suggesting a 2030 timeframe for when the area would cease to generate increment.
The commission reviewed two candidate projects that had been discussed with municipal officials: a roundabout at an intersection identified in the record around “hundred and sixteenth” (described as a three-way roundabout feeding a new business park) and renovating or replacing the Ford Road fire station, which meeting participants described as the town’s earlier station and in need of “expansion repairs.” A participant said the roundabout project was somewhat farther along in planning than the fire-station option. Participants noted that the TIF balance alone would not fully fund a large project but could be used as increment or contribution toward a larger effort.
No motions were made on the Zionsville items during the meeting. Participants said they would reach out to Zionsville officials to check current plans and timing, and considered revisiting the matter in January if the commission meets again.
The discussion included historical references to past economic development work connected to the TIF area, reimbursement timelines for prior project reimbursements, and the possibility of paying off bonds and closing the TIF if town leaders preferred that option.
The meeting did not record formal votes related to the Zionsville TIF discussion.
