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RDC adopts annual report; 2025 revenue cited at $3.6M and year‑end balance shown about $14.0M
Summary
The Redevelopment Commission reviewed and adopted its annual report, which lists $3.6 million in revenue for 2025 (primarily TIF increment), roughly $977,000 in expenditures, and a reported year‑end balance of $14,036,402.07; commissioners discussed near‑term projects that could draw on reserves.
The Whitley County Redevelopment Commission adopted its annual report after a staff presentation that summarized accomplishments, financials and ongoing projects.
The report lists 2025 revenues of roughly $3.6 million, primarily TIF increment and some county treasurer investments, and TIF‑related expenses and obligations totaling about $976,000 (almost $977,000). Staff reported a year‑end RDC balance of $14,036,402.07 and explained most of that balance is budgeted to projects over coming years; projects that move forward will draw on those reserves. Staff also reminded commissioners that major TIF revenue generation is concentrated in the Union TIF, which is set to expire in February 2034.
After discussion and brief questions about specific projects (100 South reconstruction design, the 600 East/Overdeer Drive concept and sewer commitments to Whitley Environmental), Commissioner Teresa Basinger moved to adopt the annual report; Mike Schrader seconded the motion and commissioners approved it by voice vote.
During public comment a resident, Scott, asked whether the $14 million could be used to replace septic systems; the resident responded, “Yes, please,” when the commission signaled receptiveness to the idea. Staff said some large state projects could require use of reserves, but the commission stressed it would present transparent itemization when asking council for any TIF transfers or pass‑throughs.
Next steps: the final adopted report will be uploaded to the state as required and commissioners will continue to track project budgets and TIF expiration dates.
