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Baker Tilly briefs council on 2025 TIF finances; five county TIF areas detailed
Summary
Baker Tilly presented the 2025 tax-increment financing (TIF) reports for the Vigo County Redevelopment Commission, explaining captured value vs. base assessed value and listing five TIF areas, expiration dates and 2025 revenue/expenditure patterns.
Jason Stler of Baker Tilly presented the 2025 tax-increment financing (TIF) financial reports required for the Vigo County Redevelopment Commission and summarized how TIF captures growth in assessed value to fund infrastructure in designated areas.
Stler reviewed the county’s five TIF areas, noted establishment and expiration dates (for example, Heartland Steel created in 1997 with an expiration in 2027), and walked the council through revenue, interest earnings and expenditures for 2025. He said most TIF revenues are being accumulated to pay for larger capital projects and that only one TIF area showed expenses in 2025 tied to a purchase-agreement arrangement with a company that used TIF proceeds to buy equipment as part of its expansion.
"This right here... the gray area called the base assessed value... that turquoise color there, that's the new development. That's the TIF that we're capturing," Stler said as he explained the basic mechanics for new council members.
Stler reminded the council of the April 15 Gateway filing deadline for submitting required financial information and that the presentation satisfies a statutory or procedural requirement to present the 2025 data publicly. Council members confirmed they had copies via email or hard copy.
What’s next: The council accepted the presentation; staff and Baker Tilly will ensure the 2025 financial filings are submitted to Gateway by the stated deadline.
