Delaware County Redevelopment Commission members on a recent meeting approved a package of fiscal fixes and project steps addressing bond accounting errors, project preservation and small local grants.

The commission voted to treat a $630,081.09 interest underpayment on the CanPack (Campac/CanPack) series A bonds as deferred interest under the bond indenture after staff and bond counsel (Ice Miller) and financial advisors (Baker Tilly) identified an Old National Bank system error that failed to update outstanding principal after a May 2022 draw. According to staff, the deferred interest treatment will be satisfied from future CanPack TIF revenues prior to principal without increasing the county’s overall interest obligation or altering the estimated final bond payoff date. "This was an Old National issue," staff said during the presentation; bond counsel confirmed the deferred‑interest treatment is permitted.

As part of the same motion, commissioners approved payment of $244,136.81 to address a personal‑property TIF shortfall; the CREED board agreed to advance that amount with reimbursement to follow from CanPack TIF revenues as legally permissible. The consolidated motion was moved by county administration (speaker 2), seconded and adopted on a roll call vote with all present members voting yes.

On separate project business, the commission approved paying Lochmuller Engineering for unbilled work on the Cowen Road project (unbilled amount cited as $3,671.81) and directed staff to retain all project documentation so due diligence can be reused if a future prospect reemerges. Commissioners discussed whether to complete the remaining contractual work now — staff noted the original 2024 plan cost was $427,600 and $349,552.05 remains to finish the scope — or to pause and preserve the design. The payment motion was moved and carried on roll call.

The commission also approved a $60,000 pledge to the Liberty Perry School Corporation, to be split equally among three TIF allocation areas (Midwest Metal, PRL and Magna). Staff noted the commission retained the right to reassess the final pledge if the school cannot secure the remainder of its funding.

Other actions: commissioners authorized staff to prepare a request for proposals to update planning engineering reports (PER) for the I‑69/State Road 28 interchange and related property‑planning work after Lochmuller summarized prior PERs and issued a 2025 review. Commissioners also authorized United Consulting to pursue a quiet‑title action for a small discovered parcel associated with the Gaston sidewalk project so the county can clear title before construction.

Commissioners approved claims and bond payments on the claims register after clarifying several invoices that appear to benefit the Town of Daleville (municipal capital finance/police vehicles); staff will verify original resolutions and the register entries to confirm the correct fund source.

Public comment: local writer and former reporter Rick Yentzer warned the commission that the recent loss of a distribution center (reported notices from FedEx) threatens local distribution capacity and urged continued prioritization of business and industry in TIF spending and redevelopment decisions.

The commission adjourned and set its next meeting for Feb. 12, 2026. The motions passed were procedural and fiscal in nature; staff said corrective accounting steps will be coordinated with bond counsel and Baker Tilly and that reimbursements will be processed when CanPack TIF increments are available.