The Clinton County Redevelopment Commission reviewed its year-end finances at the Jan. 16 meeting and reported a fund balance of $1,073,545 after final tax collections and a $250,000 contribution to the county to help offset a bond payment. Speaker 1 said the 2025 payment has been executed and another $250,000 payment for 2026 is being considered depending on the commission’s fiscal position.

Commission members also confirmed a payment of approximately $453,000 toward a roundabout project. Speaker 2 provided a transaction history that listed bills from Taft, the commission’s bond counsel and board attorney, and charges from Baker Tilly, the commission’s financial adviser, including work on the statutorily required TIF neutralization study.

Speaker 1 explained that the TIF district’s purpose is to capture taxes from development to fund infrastructure and noted revenue should increase this year as NHK is now 'fully in' and as improvements to a new service station in the State Route 28 TIF will be assessed Jan. 1, generating taxable value going forward. He warned that SEA 1, which is being phased in through 2031, could change assessed values and tax bills; Baker Tilly’s annual report next summer will include projections.

On payment procedures, the commission clarified that the RDC’s sub-fund is held within county funds and that the commission transfers money into the county bond account; the county then handles bond disbursement. When asked, commissioners confirmed the roundabout payment was made to the contractor identified in the transaction history (referred to as Milestone in the discussion). No new formal funding commitments were recorded during the meeting beyond affirming previously executed payments and noting potential future budget placements for contributions.

The commission closed its business after noting some members were absent; Mark later messaged that he was unavailable due to a family medical situation.