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Hamilton County RDC approves 2026 spending plan, hears 2025 annual report
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Summary
The Hamilton County Redevelopment Commission voted to approve its 2026 spending plan — due Dec. 1 — and received a presentation of the 2025 annual report, including projected effects of SB1 beginning in 2027 and an offer to supply detailed SB1 projections on request.
The Hamilton County Redevelopment Commission on Nov. 25 approved its spending plan for 2026, a statutory document staff must submit to state systems by Dec. 1, and accepted for the record a November-format annual report covering 2025 activities.
Chair called on staff to present the spending plan, and Alex Stanley of Bondree Consulting walked commissioners through the document, saying she would upload the spending plan to the state gateway after commissioners approved it. Commissioners were told the spending plan is primarily a budgeting device that reflects bond payments and professional-services fees; staff included a supplementary cash-flow statement to show how payments will be scheduled with the auditor’s office.
The spending plan passed on a motion and second; commissioners signified approval by voice vote.
The meeting then moved to the 2025 annual report, which staff described as an informational packet that summarizes allocation-area beginning balances, estimated tax-increment collections, bond obligations and amortization schedules, and narrative plans for how TIF funds will be used in 2026. Staff noted the November-format report is presented to the commission for the record but is not the Gateway-uploaded annual submission; staff said the April 15 report and the spending plan are the two items that get uploaded.
Presenter(s) drew commissioners’ attention to page 2 for a summary of remaining bond balances and to the allocation-area pages that show 2025 collections and assessed-value changes. On the 146 US 31 ramp allocation area, staff said assessed value declined by a few million dollars this year — primarily tied to actions in Carmel and some small appeals — lowering collections by roughly $50,000 for that area in 2025. Commissioners asked for additional detail about how the state law SB1 will affect future increment; staff said SB1’s most significant effects begin in 2027 (when certain parcel classes get partial exemptions) and offered to provide commission members with SB1 projection data.
Commissioners moved to acknowledge the November annual report for the record; that motion was seconded and approved by voice vote. No upload to the state gateway was required for this November-format report.
Next steps: staff will submit the approved spending plan to the Gateway before Dec. 1 and will provide the requested SB1 projection calculations to commissioners.
