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McCordsville RDC approves annual TIF/DLGF fiscal report with minor corrections
Summary
The McCordsville Redevelopment Commission approved its annual TIF fiscal report for submission to the DLGF Gateway with minor corrections, accepted February minutes, and tentatively scheduled an April meeting for March 31 pending agenda items.
The McCordsville Redevelopment Commission on March 3 approved its annual tax-increment financing (TIF) fiscal report for submission to the Department of Local Government Finance (DLGF) Gateway, voting 3-0 to adopt the report as amended.
A town staff member reviewed the report, noting the submission is the commission’s end-of-year fiscal filing, due April 15 in the Gateway portal. The staff member said the report lists board membership and appointment dates, allocation areas, revenues and expenditures, fund balances and outstanding bonds. The report included an invoice from Bondry for an analysis tied to “McCords Square Phase 2,” which staff said was charged to the Broadway Aurora allocation area. The staff member said, “I’ll double check that one before we submit,” in reference to a discrepancy in the CityScape allocation-area timing.
The staff member walked the commission through why some allocation areas show 25 years while CityScape appears to show 27: bond payments on some projects have not yet started, leading to different timing on the report. The staff member also said the RDC currently has no residential TIF allocation areas planned.
Committee member (S2) moved to approve the minutes from the February meeting; the motion was called and recorded as passing 3-0. Later, Committee member (S2) moved to approve the TIF/DLGF fiscal report with the small corrections discussed (including the spelling of a commissioner’s name and allocation-area timing); the Chair called the vote and the motion passed 3-0.
Commissioners tentatively agreed to hold the April meeting on March 31 to allow time if the McCords Square Phase 2 presentation arrives; staff said the meeting would be canceled if the presentation does not materialize. The Town council liaison noted there would be no public comment at this meeting.
The commission adjourned after a final 3-0 vote to end the session.
Next steps: staff will make the discussed corrections and upload the finalized report to the DLGF Gateway by the April 15 deadline.
