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RDC approves 2026 spending plan, budget and files 2025 TIFF management report
Summary
The commission approved the 2026 spending plan update and 2026 budget (projected beginning cash ~$34M, ending ~$24M) and approved filing the 2025 TIFF management report required by the Department of Local Government Finance.
The Westfield Redevelopment Commission reviewed and approved multiple financial items on March 16, including the 2025 TIFF management report, an updated 2026 spending plan and the formal 2026 budget.
Oscar (Boundary Consulting) presented the statutorily required 2025 TIFF management report, explaining it lists allocation areas, Indiana Code citations for their formation, functions, expiration dates and a simple receipts/expenditures summary; the report must be filed with the Department of Local Government Finance by April 15.
Rachel Baker, redevelopment manager, presented the 2026 spending plan update and the 2026 budget. The spending plan reallocates debt‑service payments among TIFF allocation areas (including local income tax bonds) to free up cash for downtown and Grand Park initiatives; staff replaced 2025 A/B bond anticipation note debt service with anticipated takeout figures and added subtotal formatting for clarity.
On the 2026 budget, staff said the beginning cash balance is about $34 million and the projected ending cash balance about $24 million, a spend‑down of roughly $9–10 million that includes planned grants and capital disbursements. Commissioners moved, seconded and approved the TIFF report, the spending plan update and the 2026 budget by roll call.
Following financial approvals, staff moved into public‑hearing items and capital project agenda items for Grand Park and the ice hockey facility.
