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Gary council passes rollovers, tax-anticipation warrants and parks transfer; TIF presentation given
Summary
Council approved several finance measures 8–0, including an ordinance rolling over longstanding interfund loans (CPO-2025-71), a tax-anticipated warrant (CPO-2025-72), and a Parks & Recreation transfer amendment (CPO-2025-73); staff also presented TIF budget updates.
The Gary Common Council on Dec. 2 passed a package of finance ordinances by unanimous votes that the administration said will help manage cash flow and complete scheduled repayments.
Controller Salida Green explained CPO-2025-71, a rollover of temporary interfund loans that in some instances date to 2006 and are rolled forward as required by the state board of accounts. She said the 2024 audit showed $10,000,000 outstanding; that total is now approximately $6,900,000 and about $1,500,000 is expected to be repaid by the end of the year. The council approved the rollover ordinance 8–0.
On tax-anticipated borrowing, Controller Green said the city will again use tax-anticipated warrants with the Indiana Bond Bank to meet intra-year cash flow needs; the requested amount decreased from about $17.9 million in 2024 to $13.2 million for 2025. Council approved CPO-2025-72, 8–0.
The council also amended and passed CPO-2025-73 to move $70,000 within the Parks & Recreation budget (an increase from $50,000) to cover equipment lease costs and repairs to Marquette Pavilion; passage was unanimous.
Mr. Harris presented the required TIF budget information and an update on balances, noting a remaining balance in a recently expired Madison Townhomes TIF shown in meeting materials as about $488,049.26, which the administration said could be used for nearby redevelopment initiatives.
All measures passed 8–0 on roll call.
