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Redevelopment commission adopts 2026 budget amid tight years for TIF-funded projects
Summary
The commission approved a 2026 budget with projected $35.4 million in TIF receipts, required reserve transfers of about $1.9 million and projected year-end balances dependent on a $4.8 million beginning balance and non‑TIF receipts.
The Carmel Redevelopment Commission voted unanimously to approve its 2026 budget, adopting staff projections for TIF receipts, required reserve transfers and next year’s capital and professional‑services spending.
Finance staff presented the budget package, estimating a beginning balance of about $4.8 million and projected net TIF receipts of approximately $35.4 million for 2026 after accounting for developer pass‑throughs and payment‑in‑addition obligations. The…
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