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Redevelopment Commission approves 2025 TIF spending plan to meet Dec. 1 filing
Summary
The Evansville City Redevelopment Commission unanimously approved a 2025 Tax Increment Financing spending plan required by state law and staff will file the plan with the Department of Local Government Finance by Dec. 1; the plan lists debt service, capital projects and earmarked ARP and federal funds.
The Evansville City Redevelopment Commission voted unanimously on Nov. 21 to approve a resolution adopting its 2025 Tax Increment Financing spending plan, a document staff must file with the Department of Local Government Finance by Dec. 1.
Commission staff member Joe introduced the resolution, saying the filing is “a new requirement by state law” and that the spending plan is attached as an exhibit to the resolution. He told commissioners the plan may be amended later in the year if circumstances change.
County Auditor Brian Girth was present; staff said John Stahl prepared much of the plan’s spreadsheets. A staff presenter identified in the transcript as Bridal walked commissioners through the line items and summarized the categories on the plan’s page 7, saying the plan groups funds for debt payments on TIF bonds, capital expenses, and professional and administrative costs. “We’ve inflated some of the numbers just so we’re pretty confident we’re not gonna go over these numbers next year,” Bridal said, explaining that some expenses expected in the current year may instead occur in 2025.
The spending plan also lists specific project funding: a placeholder balance for Petersburg Road design; an item described in the plan as a $1,600,000 sewer-extension project that staff said will be paid from ARP funds; and anticipated federal dollars for Oak Hill Road. The staff presentation noted the plan can be adjusted mid-year and recommended reviewing expenditures during the year to determine if amendments are needed.
A motion to approve the resolution was made and seconded by Tom Shetler; a roll-call vote followed and commissioners cast unanimous 'aye' votes, approving both the resolution and its attached spending plan. The approved plan will be filed with the Department of Local Government Finance by the Dec. 1 deadline; staff told the commission the document can be amended later if necessary.
Next steps: staff will complete the Dec. 1 filing and commissioners said they will review mid-year spending and consider amendments if actual expenses diverge from the plan.
