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Commission adds county TIF support to Innovation Connector after financial briefing
Summary
After reviewing financial statements and lease-rate questions, the commission approved additional TIF funding for the Innovation Connector to bring the year’s total to $75,000, with staff to prepare separate resolutions to allocate funds from multiple TIF districts.
The Delaware County Redevelopment Commission voted July 9 to provide additional operational support to the Innovation Connector, bringing the 2026 county contribution to $75,000 after staff confirmed previously approved funds.
Tim, representing the Innovation Connector, described the organization as a county entrepreneurial support hub that has moved from being primarily a place-based incubator to a broader ecosystem developer. He provided financial statements showing roughly $1.1 million in total revenue last year, noted a $160,000 surplus and explained why the center’s lease rates are higher than market because of the services offered. "If we lose one client just because of [a small rent] increase, it negates everything that we gained," he said in explaining why immediate rent increases were not the preferred solution.
Commissioners asked detailed questions about lease structure, loan obligations and staffing. One commissioner moved to approve an additional $50,000 to reach the full $75,000 request; the motion was seconded, commissioners discussed which TIFs to draw from and voted to approve. Staff said they would prepare two separate resolutions mirroring the earlier $25,000 allocations to specify the TIF sources.
The commission discussed monitoring sustainability and asked for documentation on lease rates and restricted project income as part of continued oversight.
