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Council tables resolution to assign TIF revenues as loan collateral for Living Green redevelopment
Summary
Councilors deferred a resolution that would formalize assignment of tax-increment financing (TIF) proceeds as collateral for a developer's loan tied to the Living Green project, citing incomplete economic-development assurances and requests for more information from the developer and tenant.
The Delaware County Council voted to table Resolution 2025‑12 on Aug. 26 after extended discussion about whether reassigning TIF revenues as collateral would protect county interests.
Sarah Carrell of Faegre (bond counsel) told the council the measure is a standard legal step that would assign TIF receipts as collateral to support financing the completion of a project begun under a prior financing agreement. “This creates no additional obligations of the county,” Carrell said, adding the assignment does not extend…
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