The Tipton City Council heard that the redevelopment district (RDC) bond has closed, and city staff are pursuing purchase of the county's property interest in the planned Northgate Industrial Park expansion.

Speaker 5 said the closed redevelopment bond "allowed the city the financial capability to purchase the county's property interest in Northgate Industrial Park expansion," a request the county commissioners had made last year. The mayor said the city is engaged with county commissioners and their legal counsel and hopes to complete the purchase "before the Christmas holiday."

No purchase price, contract, or closing timeline was provided in the meeting transcript; Speaker 5 said they have not received "specific feedback on the next steps" but are working with county officials and counsel. The transcript does not record a motion, vote, or formal authorization by council to execute a purchase; it records the mayor's update and intent to proceed with discussions.

What happens next: City staff will continue coordination with Tipton County and legal counsel; any purchase or sale would require additional council action and formal documentation.