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Redevelopment Commission presents annual TIF report, notes two inactive residential districts and bond debt schedules
Summary
Joni Truex reported on Kosciusko County's TIF districts as required by House Bill 105, listing assessed values, revenues, expenses, account balances, two districts with zero activity and outstanding bond obligations with expected payoff dates in 2026 and 2037.
Joni Truex, representing the redevelopment commission, presented the annual TIF report required by House Bill 105. The report lists Kosciusko County's TIF districts, gross and net assessed values, incremental values, revenues received, expenses paid and current balances. Truex said the data were pulled from Gateway and the auditor's office.
Truex told commissioners that two residential TIF districts established on Jan. 3, 2023 (South Shore Residential and South Aetna Green Residential) currently show no activity or assessed value and therefore carry no revenues. She said one TIF (Van Buren/Maple Leaf) is due to expire in 2026. Truex also reported two bond debts: a Dreyfus bond with a reported balance of about $1,665,000 and an expected payoff in 2026, and a TruePoint bond with a balance reported at roughly $1.6 million and an expected payoff in 2037.
Truex said maps showing each TIF district were provided as part of the report and that the redevelopment commission will continue to provide these annual updates; no motion was required and the report will be attached to the minutes.
