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Whiteland Town redevelopment commissioners reelect officers, note $938,354.99 TIF payment and bond shortfall
Summary
At a reorganization meeting, commissioners approved a slate of officers, unanimously approved minutes and vouchers, reviewed a semiannual TIF payment of $938,354.99 and discussed a bond coverage shortfall of just under $30,000 and a developer guarantee shortfall.
The Whiteland Town Redevelopment Commission unanimously approved a slate of officers and routine financial items at a reorganization meeting, while staff flagged a near‑$30,000 shortfall on a bond payment and confirmed a $938,354.99 tax‑increment financing (TIF) receipt.
Speaker 5 nominated "David as president, Amanda as vice president, and John as secretary," a slate seconded during the meeting and carried by voice vote, after which the commission confirmed no changes from last year.
The meeting’s financial review, presented by Speaker 4, showed December disbursements of $38,811.03, revenue of $106,087.27 and a current fund balance of $1,786,588.29. Speaker 4 said the RDC account earned $5,196.61 in interest and that the December TIF disbursement totaled $938,354.99.
Commission staff and members discussed a bond‑coverage gap…
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