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Redevelopment Commission approves 10 annual excess TIF resolutions to retain incremental revenues
Summary
The City of Crown Point Redevelopment Commission unanimously approved ten annual excess tax-increment-financing (TIF) resolutions covering multiple economic development areas and directed staff to prepare spending plans and detailed budget estimates later this year.
The City of Crown Point Redevelopment Commission on May 4 unanimously approved ten annual excess tax-increment-financing resolutions covering multiple economic development areas, the commission heard.
Greg Guerrettez, municipal advisor with FSG, briefed the commission on each resolution and said the notices preserve the city’s claim on incremental property tax revenues so funds can accumulate for future projects. "The city will need that to accumulate to do any projects," Guerrettez said in describing the purpose of the annual resolutions.
The resolutions cover a range of areas and projected 2027 collections cited by staff and the advisor: the 2024 Mississippi Expansion EDA and North Main Street West Side EDA (each about $10,000 estimated in 2027); the I‑65 W 109th Ave EDA (about $2,450,000, with an outstanding bond obligation and no expected excess beyond debt service); the 2023 Delaware Expansion EDA (projected about $110,000); the 1987/I‑65 East Side EDA (estimated incremental revenues of $4,254,678 with debt service of $947,355 and about $3,110,000 expected in 2027); the Exchange EDA and Point 65 Area (each about $10,000); the Main Street EDA (estimated incremental revenues $1,771,000 and about $310,000 expected in 2027); the Sportsplex EDA (about $152,000 in allocation fund and $47,000 expected in 2027); and the US‑231 EDA (about $433,000 in the allocation fund and $327,000 expected in 2027).
Guerrettez said the I‑65 W 109th Ave area is tied to an outstanding bond and that FSG does not expect collections there to produce excess beyond the debt-service obligation. For other areas, he said the city will retain incremental revenues and later prepare a spending plan and a detailed budget estimate; those documents are expected in July–August with spending plans in the third or fourth quarter of 2026.
Brad Bosse moved to approve Resolutions 2026‑05‑04‑1R through 10R; Craig Slosson seconded the motion, and the commission approved it by unanimous individual voice vote.
The action preserves the city’s ability to apply incremental TIF revenues to planned projects and to meet bond obligations where they exist; staff will return with more detailed budget and spending-plan documents later this year.
