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Redevelopment commission reviews TIF balances, spring settlement and bond timeline; project updates given
Summary
Commission heard fund reports showing a ceded balance of $24,344.70 and a TIF balance of $1,370,695.80; staff reported a spring TIF settlement net distribution of $964,814.06, an August 13 bond closing target for lease rental bonds, and updates on Greenwood sewer, campground sewer environmental review and the facade program.
At the July 7 Sellersburg Redevelopment Commission meeting staff presented updated fund reports and project timelines, saying the commission’s ceded balance through the end of June was $24,344.70 and the current TIF fund balance was $1,370,695.80.
Finance staff noted some pending charges that will require adjustments — including invoices that had been applied entirely to the ceded account instead of split with the TIF — and said staff will reconcile those with the county treasurer. On the commission’s spring TIF settlement, staff reported the total net distributed…
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