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RDC 41 report: Veedersburg official reports $885,849 in tax receipts and $6.34 million in sewer bonds outstanding
Summary
A presenter provided the RDC 41 annual figures: $885,849.45 in tax distribution receipts for 2025, $49,287.26 interest, several listed expenditures, and outstanding sewage revenue bonds of $6,340,000 with an annual payment of $325,000; the operating fund plus CDs totaled $1,095,887.93.
A review of Redevelopment Commission (RDC 41) finances showed tax distributions of $885,849.45 for 2025 and listed expenditures and obligations tied to ongoing projects, the board heard during its meeting.
The presenter read the RDC figures for 2025: tax distribution receipts of $885,849.45 and interest income of $49,287.26. Listed expenditures included legal and accounting professional services ($25,887.75), HVAC replacement at the scout cabin ($5,750), work on 211 North Main ($1,924,344), a pigeon remediation grant ($13,750), a $325,000 payment on the sewer project bond, police vehicle outfitting ($15,212.56) and an annual contribution to the VRA of $25,000. The presenter said the operating fund held $95,887.93 on Dec. 31, 2025, and the RDC held $1,000,000 in certificates of deposit, for a combined total of $1,095,887.93.
Outstanding obligations included the sewage works revenue bonds of 2022, listed at $6,340,000, with an annual payment of $325,000. The presenter provided a parcel list of TIF revenues as part of the packet.
Board members acknowledged receipt of the report; no detailed vote or policy action was recorded on the RDC report in the transcript. The RDC numbers were provided to the board for oversight and budgeting.
