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Whiteland redevelopment commission waives 2025 TIF shortage, citing prior surpluses
Summary
On March 12 the Whiteland Town Redevelopment Commission voted to waive small Tax Increment Financing (TIF) revenue shortages from 2025 after staff said prior-year surpluses covered recent shortfalls; the motion passed unanimously.
The Whiteland Town Redevelopment Commission voted March 12 to waive TIF revenue shortages for the 2025 property-tax year after staff told commissioners prior surpluses covered recent shortfalls.
Steven, a staff member who presented the report, said the Phase 1 Patch project agreement pledges 80% of certain TIF revenues to bond debt service and that payments in some cycles were lower than projected. He cited two shortfalls — roughly $9,451…
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