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Hobart RDC adopts resolutions preserving 2027 TIF revenue for four redevelopment areas
Summary
The Hobart City Redevelopment Commission unanimously adopted four resolutions May 18 keeping 2027 tax increment revenues available for the State Road 130 & Greater Downtown, two U.S. 30/69th Avenue allocation areas, and the 61st Ave./SR 51 area, a move staff said preserves funds to meet existing obligations under current assessed-value projections.
The City of Hobart Redevelopment Commission voted unanimously May 18 to adopt four resolutions finding that tax increment expected to be collected in 2027 from several redevelopment and economic development allocation areas is needed to satisfy commission obligations.
The adopted actions — Resolutions 2026-3, 2026-4, 2026-5 and 2026-6 — apply to the State Road 130 Industrial Area and Greater Downtown Hobart Redevelopment Area, two allocation areas within the U.S. 30 and 69th Avenue Economic Development Area (Allocation Areas No. 1 and No. 2), and the 61st Avenue and State Road 51 Economic Development Area. Mark Kara made the motions to adopt each resolution, Kelly Clemens seconded, and the votes were all ayes (5-0).
Baker Tilly Municipal Advisors provided the commission’s annual TIF update earlier in the meeting. Greg Balsano told commissioners the presentation used 2026 assessed values, accounted for outstanding appeals and current tax rates, and included scenarios to reflect Senate Bill 1 (SEA-1) changes from 2025. "The projections are conservative, assuming no new construction," Balsano said; he added that any new development would be additive to revenue estimates.
Commissioners and staff said the determinations are a routine step to ensure the commission can meet existing obligations and report required information to the Department of Local Government Finance and the Clerk-Treasurer. The resolutions do not themselves authorize new expenditures or projects; they formally document the commission’s finding that future increment will be needed to satisfy outstanding commitments.
The commission made the motions and recorded unanimous votes on each resolution. The RDC plans to continue TIF monitoring as appeals and legislative changes (including potential future adjustments to the property tax replacement credit) affect projections.
