Chickasaw supervisors direct auditor to certify $50,000 of urban-renewal costs toward $600,000 TIF bond

Chickasaw County supervisors voted Nov. 24 to direct the county auditor to certify not to exceed $50,000 of planning, engineering and attorney costs against a $600,000 urban-renewal tax-increment financing (TIF) bond. The certification must be submitted by Dec. 1, staff said.

County staff explained the $600,000 figure is the bond amount expected to fund the urban-renewal project. Supervisors debated which costs can be charged to the bond as 'project specific' (for example, engineering and architect fees) and which are administrative or pre-project expenses that the county might pay from the general basic fund. Supervisor discussion named pending invoices from Piper Sandler, Ehlers, Cooney and Matura and raised concern about coding pending bills so they can be reimbursed when tax increment revenues arrive.

A county staff member said the auditor had told them the county could reimburse general basic expenditures from TIF receipts later but timing and appropriation coding remain necessary. One supervisor urged certifying the full $50,000 now for administrative flexibility; another recommended limiting bond charges to costs demonstrably project-specific.

After debate, Supervisors Travis (mover) and Isaac (seconder) passed the motion to certify the $50,000 with a recorded roll-call vote that carried 4-0 with two supervisors absent. Staff said further budget amendments and line-item coding would follow to handle pending invoices and future TIF receipts.

The board also discussed timing of first TIF receipts and projected debt service schedules; staff noted the first payment was expected in June 2027 and emphasized the need to track invoices that arrive before TIF receipts are credited to the project account.