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Batesville RDC reviews 2025 TIF annual report, reports roughly $715,925 on hand
Summary
The Batesville Redevelopment Commission reviewed its 2025 TIF annual report, detailing district balances and 2026 priorities; commissioners heard that May receipts included $397,315.67 from Ripley County and the commission’s total TIF balance was reported at about $715,925.
The Batesville Redevelopment Commission on the June meeting reviewed its 2025 tax increment financing (TIF) annual report and a multi‑district balance sheet, and outlined priorities for 2026.
Commission staff reported that Ripley County TIF receipts for May totaled $397,315.67. For the month the commission recorded a $14,255 bond payment, a $25,000 bond defeasance expense still to be paid, and $6,484 in legal and consulting fees; the month closed with $715,925 on hand. Staff also said a subsequent deposit from Franklin County of $135,441 arrived after the month closed.
The packet presented maps and a breakdown of five TIF districts managed by the commission. Reported funds included an I‑74 allocation balance of about $169,000, the Thrive Market/GE area with a cash balance of a bit over $300,000, the Wood‑Mizer area at roughly $320,000, and the industrial park area at a little over $1,000,000, which the commission said reflected proceeds from the sale of the Shell building.
The chair explained the materials, noting the packet defined terms and described the RDC’s statutory duties and how assessed‑value growth is captured as incremental revenue for redevelopment projects. The report lists 2025 accomplishments, including payments to support the Discovery Factory, the Batesville School Corporation ready program, and Main Street downtown development work; it also notes incentives to the AP building owners and the purchase of a rest area completed in early 2026.
Commissioners discussed how county prepayments typically result in 60–70% of annual allotments appearing early in the year; one member said the school share was around 60% this year, slightly lower than historic averages.
The commission said 2026 priorities include enlarging a detention pond at the industrial site to support planned expansion, fulfilling the Thrive Market bond payment, and pursuing property sales at the industrial park (a realtor contract has been signed). Members also agreed to develop a three‑to‑five year strategic plan in collaboration with the Economic Development Commission to guide future redevelopment spending.
The commission moved and approved the minutes of May 27 and later approved the financial report and claims as presented.
The chair invited public questions as required for the annual TIF meeting and noted this was the first year the commission broadcast the session; members were encouraged to request copies of the materials if needed.
