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Redevelopment commission denies Tharpe Investments TIF request and signals RDC will fund required East Main road
Summary
The Danville Redevelopment Commission voted to deny a TIF incentive application from Tharpe Investments for East Main parcels, then indicated consensus to use RDC funds to build the roadway the town requires to make the lots shovel-ready; final dollar approvals will follow quotes and legal mapping.
Chair opened the discussion of a tax-increment financing (TIF) application from Tharpe Investments for East Main parcels and explained the town’s long-standing requirement that a new internal roadway connect parcels behind the Taco Bell and Starbucks.
The developer had proposed to construct the roadway and be repaid over time from a TIF. Adam, an on-line adviser introduced during the meeting, described the two financing approaches that were considered: "the developer would be in charge of constructing all of the infrastructure that have been agreed to… and then they get paid back over time from the TIF," he said. Town staff and commissioners said a town-led construction approach could be more cost‑efficient and reduce administrative fees.
Commissioners discussed preliminary estimates prepared by staff and finance. One exchange referenced a 60/40 reimbursement scenario that staff said could produce about $600,000 recouped over time for the two initial businesses outlined in the application. Commissioners repeatedly cautioned these figures are preliminary and depend on final development content and year‑end reassessments.
After discussion, the Chair moved to deny the TIF application for the East Main convenience/gas-station and car-wash proposal; the motion was seconded and passed on a voice vote. The Chair then asked whether the commission would indicate a willingness to proceed with town-funded construction of the roadway using RDC cash on hand. Adam advised that an early indication is appropriate and that the commission could approve the exact transfer when final construction quotes arrive; commissioners indicated general consensus to proceed.
The commission’s action preserves two paths: (1) deny the developer’s request and move forward with town-funded construction now, with the option to create a TIF district later in the year to seek reimbursement, or (2) revisit a developer‑led repayment structure if circumstances change. Staff noted practical next steps: secure three construction quotes, amend plats/rights-of-way through the plan commission as needed, and finalize legal changes and mapping together to limit legal costs.
The meeting transcript records only voice votes; the commission did not record individual member roll-call votes for the TIF denial. Chair said staff will return with verified RDC cash-on-hand figures and final quotes before a formal funding transfer is approved.
Ending: The commission denied the TIF request and signaled readiness to fund the road with RDC cash pending final cost estimates and legal mapping; the matter will return for a formal approval of any transfer once quotes are obtained.
