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Speedway council approves MOU with redevelopment commission to offset TIF-related budget impacts
Summary
Council unanimously approved an MOU and a resolution accepting Speedway Redevelopment Commission transfers intended to offset circuit-breaker effects from a school capital project; the funds will be used to support fire and police salaries and to build a multicity surplus for later bond years.
The Speedway Town Council voted unanimously on Dec. 22, 2025 to approve a memorandum of understanding (MOU) with the Speedway Redevelopment Commission and a companion resolution to transfer Tax Increment Financing (TIF) funds to the town to offset revenue losses created by a school capital improvement levy.
Town Manager Grant Kleinheinz told the council that, because of Indiana's circuit-breaker property tax limits, a new school tax levy can reduce receipts…
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