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Zionsville RDC hears five‑year outlook; EDA set to expire in 2030 and $33 million bonding capacity noted
Summary
Auditor/consultant Tim Berry (Crowe) told the Redevelopment Commission the Zionsville EDA will expire in 2030, the annual redevelopment report was filed on Gateway by April 15, and the RDC has roughly $33,000,000 of bonding capacity under its 2% limit; commissioners were told the outlook is a "living" document.
Tim Berry of Crowe presented an updated five‑year outlook and financial briefing to the Redevelopment Commission, noting the commission filed the annual redevelopment report on Gateway by the April 15 deadline and that the largest redevelopment area, the Zionsville EDA, is scheduled to expire in 2030.
Berry described the five‑year outlook as a "living, breathing document" that reviews allocation areas, outstanding bonds, pledged revenues, and budgets for future years. He told the commission there are currently no general obligation bonds outstanding for the redevelopment commission against the 2% limit and said the commission has roughly $33,000,000 of available bonding capacity if it chooses to utilize that margin.
"Your largest, legacy, redevelopment area, the Zionsville EDA, does expire in 2030," Berry said during his presentation. He encouraged commissioners to review expenditures and goals for each allocation area as they consider future projects and bond obligations.
A commissioner asked whether the RDC's 2% limit is separate from the town's general obligation bond capacity; Berry confirmed it is separate. Commissioners responded that the RDC appears financially healthy based on the report.
Next steps: commissioners and staff will use the outlook to inform decisions about allocation areas, bond obligations and potential future projects; Berry invited questions and follow up as the document is refined.
