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Franklin County redevelopment commission approves two resolutions to capture 2026 TIF revenue
Summary
The Franklin County Redevelopment Commission unanimously approved two annual determinations for the Reservoir West and Golden Road TIF areas, finding no excess assessed value for 2026 taxes payable in 2027 and directing the president to notify overlapping taxing units and state officials.
The Franklin County Redevelopment Commission voted to adopt two resolutions that determine there is no excess assessed value in two tax increment financing (TIF) allocation areas for 2026 taxes payable in 2027, and to capture 100% of the increment for redevelopment uses.
The commission read and adopted a resolution for the Reservoir West Development Area (also referred to in the meeting as Reservoir Hill) that cites IC code 36-7-14 and IC 36-7-14-39 and states the commission “requires all of the assessed value in the allocation area for 2026 taxes payable in 2027 to support debt service and projects of the commission.” Commissioners then moved to authorize the president to sign and send the statutorily required written notices to the county auditor, county council and overlapping taxing units and to file the notice electronically with the Indiana Department of Local Government Finance. The motion was seconded and approved by voice vote.
The commission followed with an analogous resolution for the Golden Road Economic Development Area, reading the same legal findings and likewise determining there is no excess assessed value that may be allocated to overlap taxing districts for the same tax year. That resolution also passed on a seconded voice vote.
Both readings referenced the statutory requirement that an allocation-area determination be made before June 15 each year under IC 36-7-14-39. The commission recorded the resolutions in its official minutes and authorized the president and secretary to take any actions necessary to carry out the intent of the resolutions, including providing the notices required by statute.
The meeting record does not show a roll-call tally; the minutes reflect voice votes with no members recorded as opposed. Commissioners noted that passing the determinations does not preclude future discretionary releases of TIF funds for grants or projects upon request.
What the resolutions mean: by determining there is no excess assessed value to share, the commission is effectively retaining all TIF revenue generated in those allocation areas for redevelopment projects and debt service tied to the districts rather than distributing any portion to overlapping taxing units for the 2026 taxes payable in 2027. The report to the commission noted the Reservoir West area currently has only about $2,700 in collected increment to date, underscoring why the commission is preserving the allocation for its redevelopment priorities.
Next steps: the president of the commission was authorized to sign the resolutions and distribute the notices to the county auditor, county council and overlapping taxing units and to file the electronic report with the Indiana Department of Local Government Finance as required by state law.
