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Elkhart panel approves preliminary $10.5M bond to fund South Main and Woodland Crossing infrastructure
Summary
The Elkhart Redevelopment Commission adopted a preliminary resolution to issue up to $10.5 million in residential infrastructure bonds to access state RIF financing for South Main Street and Woodland Crossing projects; commissioners heard project cost estimates and a repayment plan using South consolidated TIF revenues.
The Elkhart Redevelopment Commission on Dec. 9 approved a preliminary bond resolution to access up to $10,500,000 in residential infrastructure financing to build streets, water and sewer improvements to support two downtown redevelopment projects.
Mike Huber, the city’s development services director, told commissioners the city applied earlier this year to the state Residential Infrastructure Assistance Program (RIF) for $10,000,000 to support the South Main Street project and the Woodland Crossing Neighborhood Opportunity Hub. He said the Indiana Finance Authority would purchase the bond and the city anticipates repaying debt from consolidated South TIF revenues.
Huber described preliminary engineering estimates that put South Main Street construction near $4.1–$4.2 million and Woodland Crossing infrastructure near $6.5 million. He said the South Main work will replace century‑old utilities and add streetscape amenities to support a mixed‑use development; Woodland Crossing will add sewer, water lines, sidewalks and green space to support up to 140 new housing units.
A commissioner asked whether the housing would be apartments or townhomes and what percentage would be income‑restricted. Huber said the plans include both rental and ownership options, and that partners such as La Casa and Habitat for Humanity have expressed interest, but the exact affordable share is not yet determined: “We’re not there yet — we just gotta start with constructing the infrastructure.”
The motion to adopt the resolution — described in the staff presentation as approving $10,500,000 in residential infrastructure bonds with a final maturity of 20 years and an interest rate not to exceed 6 percent — passed by voice vote. The resolution is an initial step in pursuing RIF funding; final bond documents and any further approvals will follow as the projects proceed.
Next steps include finalizing design drawings in 2026 and preparing bids; Huber said staff expects to bid the South Main work in the first quarter of 2026 and begin construction later in the year.
