Kosciusko County Redevelopment Commission restates purposes for two TIF districts; Dreyfus bond balance discussed

At a meeting of the Kosciusko County Redevelopment Commission, members restated the official purposes for two existing tax increment financing districts — 30 West and the Dreyfus TIF — reviewed each district’s balances and bond obligations, and discussed potential future projects that could use TIF funds.

The restatements are part of an annual requirement to report each district’s intended purpose to the state. Commission staff presented maps and financial summaries for both districts. For 30 West, staff said the district was established in 2015 and is set to mature in 2040. The commission reviewed the 2025 approved budget for that district ($410,000) and a current fund balance noted in the meeting materials of $412,892.

Commission members discussed potential future uses of the 30 West TIF near the old LSC building on U.S. 30, saying the district “could be earmarked for that project” if a formal request comes before the commission. Commissioners and staff said there was no current formal request to allocate funds from 30 West at the time of the meeting.

The commission then reviewed the Dreyfus TIF. Meeting materials and staff remarks indicated the Dreyfus TIF was established in February 2006 with a 25-year term and an indicated maturity or sunset in 2036. Staff reported a remaining bond balance of $878,058 and an available cash balance for infrastructure of $424,748. Meeting remarks also referenced a bond-related cash balance in a bond fund of approximately $323,120 (reported verbally during the meeting) and a separate cash fund figure described in the packet as $375,000; meeting participants discussed how collections are split between bond and cash funds.

During discussion there was a moment of uncertainty about maturities and timing: a participant asked whether the bond balance would mature in 2026, and the exchange in the record acknowledged differing references in the discussion. Commissioners did not adopt any new allocations at the meeting; staff said some recent requests related to drainage and drainage tiles had used Dreyfus funds previously and the TIF remains active for similar infrastructure needs.

Procedural business: a motion to approve the January meeting minutes was moved and seconded, and those present responded “aye”; the minutes were recorded as approved. No opposing votes were recorded in the meeting transcript.

Commissioners and staff said the restatements did not require a formal motion to adopt at this meeting and no changes to the stated purposes were proposed.

The meeting concluded with brief reminders about upcoming training and the commission’s next items of business.