RDC hears TIF financial update: $2.77M balance, county disbursement of $779,621.95

Nicholas, staff for the Sellersburg Redevelopment Commission, presented the commission’s fund reports at the Jan. 5 meeting, saying the December TIF fund balance stood at $2,773,771.02 and that the commission received $779,621.95 from the county in the most recent disbursement.

Nicholas said year-to-date revenue was approximately $1,744,436.01 and noted deductions and property-tax caps affected totals. He highlighted that bond payments tied to the lease-rental bond would come out in mid-January and that staff will follow up on a June disbursement and any delinquent payers.

The commission also reviewed past TIF expenditures: $416,349.50 expended in 2025 and the RDC operating professional services account (Acct 432) with a $60,000 appropriation; in 2025 the commission spent $59,248.40 leaving $751.60 on hand before the 2026 appropriation.

Nicholas described the claims register items associated with TIF and ceded funds (invoices from TWG, JTL Prime, SJCA and Greenwood Sewer construction administration inspection) and explained that timing of invoices sometimes causes charges to fall into the next appropriation year.

Commissioners asked whether landscaping (JNC) charges come from the TIF landscape account or the professional-services account; Nicholas explained the treasurer’s office uses discretion and coding/timing determines where individual charges are posted.

Nicholas said staff will produce a deeper finance projection at the next meeting to show when expenses will hit and how much unencumbered cash might be available for projects.