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Redevelopment Commission approves $25,000 for Muny Innovation Connector after members question $75,000 ask
Summary
After a lengthy debate about mission, long-term tenants and financial transparency, the commission agreed to provide $25,000 now to the Muny Innovation Connector, conditioned on delivery of financials and a proposed rent adjustment; a prior $75,000 request failed to gain support.
The Delaware County Redevelopment Commission approved a $25,000 allocation to the Muny Innovation Connector on June 11 after debating a larger $75,000 request.
Ted Baker, the connector's CEO, told the panel the center served more than 2,000 entrepreneurs and requested $75,000 to cover shortfalls and capital needs, including roof and HVAC work. "We literally are the largest entrepreneurial support organization in East Central Indiana," Baker said, describing programmatic and facility needs.
Several commissioners said they supported the connector's mission but were concerned about operational details. One commissioner said they could name "four clients off hand who have been there for as long as I can remember," raising concerns that the center has not consistently launched new firms out of the facility. Commissioners asked for rent-history information and financial statements before approving additional funding.
The compromise motion approved $25,000 to be paid now (split between two TIF districts), with the remainder contingent on receipt of financial records and evidence of a rent adjustment or other operational changes. The connector agreed to provide the requested documents and return to the commission next month for further consideration.
What happens next: The connector will deliver audited or internal financials and a rent-revision plan to the commission; staff will track the second request and revisit eligibility for further funds later in the year.
