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Council approves refinancing of Burkhart Road TIF to capture lower rates
Summary
The Evansville Common Council adopted Ordinance G2026-04 allowing the Vanderburgh County Redevelopment Commission to refund/refinance Burkhart Road TIF bonds. Presenters said a preliminary refinance of $12,365,000 could save roughly $480,000 a year and up to about $2.4 million overall; council voted 8–0.
The Evansville Common Council on Jan. 12 adopted Ordinance G2026-04, consenting to the Vanderburgh County Redevelopment Commission's plan to refund and refinance bonds tied to the Burkhart Road tax increment financing (TIF) district.
Craig Emmick, counsel representing the redevelopment commission, told the council the ordinance authorizes refinancing of up to $18 million and that the preliminary refinancing target is $12,365,000. "We are refinancing a total amount of debt, in the…
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