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Boone County approves refunding of TIF‑backed revenue bonds and $1 million forgivable loan option for developer
Summary
The Boone County Board of Commissioners approved Resolution 2026‑04 to refund certain 2013 and 2015 revenue bonds (TIF‑backed), authorizing up to $19 million in new bonds and a conditional, forgivable $1,000,000 loan to Browning for a road extension if Whitestown proceeds with a community project.
The Boone County Board of Commissioners approved a resolution on April 13 authorizing refunding of certain 2013 and 2015 revenue bonds linked to a tax increment financing (TIF) area and allowing a conditional $1,000,000 forgivable loan to a private developer for infrastructure tied to a Whitestown project.
Bob Clutter, speaking for the county’s redevelopment interests, told the commissioners the bonds carry roughly 6 to 6.5 percent rates and the county has obtained lower quotes. "There’s gonna be some significant cost savings," Clutter said, and he estimated savings "over the next 8 years, as much as 15 to 16,000,000 dollars." He said the TIF area is…
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