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Redevelopment Commission reviews TIF annual report; consultant says central area shows solid revenue-to-debt coverage
Summary
On July 7, 2026 the Jasper Redevelopment Commission heard an annual TIF update from consultant Kyle Carlson of Baker Tilly, who reported strong revenue-to-debt coverage in the central TIF despite state deductions that will phase in through 2031.
The Jasper Redevelopment Commission on July 7 received its annual tax-increment financing (TIF) report from Kyle Carlson of consultant firm Baker Tilly, who summarized revenue projections, bond obligations and the effect of recent state deductions.
Carlson told the Commission that “the central area was created in 2014. It expires in 2049,” and walked members through estimates showing the central area generated an estimated $963,000 in tax increment for 2025, with collections about $936,000. He said the 2026 estimate approaches $1.2 million, with spring collections near $630,000.
The consultant reviewed an $8.5 million bond issued in 2024 for the outdoor pool, reporting about $8.36 million outstanding after the February payment and a final maturity in February 2037. Carlson said the central area’s forecasted revenue-to-debt coverage is roughly 147 percent, leaving excess TIF revenues that the RDC will retain after bond obligations.
Carlson also addressed the new state law referenced in the presentation (noted in the report as SCA 1 2025), which phases in deductions for homesteads and certain 2% property types from 2026 through 2031. He said the deductions could total roughly $3 million in the area by 2030–2031 but emphasized the central allocation’s largely commercial and industrial base limits its exposure to those deductions.
Commissioners asked clarifying questions about whether new tax abatements would reduce the projected TIF growth. Carlson replied that abatements apply only to new investment and would delay—but not eliminate—the positive effects of increment as abatements are applied to future, not existing, value.
Why it matters: the central TIF produces the largest share of increment for the RDC; projected excess after bond service informs future local capital decisions and the Commission’s capacity to support other projects.
The presentation continued with a review of Riverfront, University Heights, Northridge and the new Horn allocation area; Carlson noted several technical points about base neutralization and the timing of assessed-value updates. The Commission did not take further action on policy changes at the meeting.
