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Redevelopment staff reports $398,000 available; EDC recommends a $50,000 revolving loan
Summary
Staff reported roughly $398,000 available in redevelopment funds, one borrower completed a 2026 revolving loan payment, and the Economic Development Commission recommended one $50,000 revolving loan while tabling a second $50,000 request for further review.
Redevelopment staff told commissioners the commission account balance had climbed to about $398,000 after a recent deposit to the donation fund and the final payment on a 2026 revolving loan from Clear Decision Filtration.
Staff noted the Casey Williams company had not yet made its April payment but that the account status was not yet a concern. The Economic Development Commission reviewed two revolving loan fund applications and recommended approval of one $50,000 loan while tabling the second $50,000 request for additional consideration; staff said the commission’s balance may change by next month depending on loan activity.
A commissioner moved and the body approved the financial report on a voice vote. Staff answered members’ questions about tourism marketing line items and confirmed the commission is buying two quarters of Travel Indiana placement this year with a greater emphasis on digital delivery to reduce print expenses.
