Hobart Redevelopment Commission approves Hickory Hollow residential TIF and several redevelopment measures

The City of Hobart Redevelopment Commission on June 15 voted unanimously to begin a residential tax‑increment financing (TIF) program for Hickory Hollow, a proposed 108‑unit development expected to cost about $51,500,000 and rely on up to $4,150,000 in public infrastructure reimbursements. The commission approved Resolution 2026‑09, a declaratory resolution that starts the statutory process for creating the Hickory Hollow Development Area and its Residential Housing Development Program.

Tom Everett, bond counsel with Barnes & Thornburg, presented the proposal, saying the development would include single‑family villas and townhomes across 57.78 acres with a phased construction timeline spanning 2027–2030 and a 20‑year TIF collection period to reimburse eligible public infrastructure. "It provides for the public improvements for development, to be reimbursed through financial incentivization of the redevelopment of the economic development area," the counsel said, summarizing the statutory basis for using TIF funds.

Mayor Josh Huddlestun and a representative identified as Mr. Loucks expressed support for the project. No members of the public spoke during the required comment period; President Matthew Claussen closed the public meeting after asking three times for public input. The commission voted 3–0 (Claussen, Kara, Cartagena) to approve the declaratory resolution; the resolution will next go to the City Council as part of the statutorily prescribed approval sequence.

Votes at a glance

- Resolution 2026‑09 (Hickory Hollow declaration and development plan): approved 3–0. - Resolution 2026‑08 (Confirmatory Resolution: I‑65 & 37th Ave Economic Development Area): approved 3–0. - Resolution 2026‑10 (Amend Property Acquisition List — State Road 130 Industrial Area & Greater Downtown Hobart): approved 3–0. - Change Order No. 8 (US‑30 & Colorado safety improvements): approved 3–0; contractor credit $300,460; total project savings to date reported as $231,580.26. - Real estate purchase agreement for parcel at 2711 W. 37th Ave (Parcel No. 45‑08‑25‑126‑002.000‑018): approved 3–0; offer tied to the greater of two appraisals ($100,000). - Blight determinations for parcels at 800 W. Old Ridge Rd. and a vacant parcel identified as Rush Place (Stimson's 2nd Add., Lot 21): both determined blighted 3–0, enabling appraisals and potential future acquisition; no purchase obligation was created. - Register of Claims (invoices totaling $82,745.41) and 2020 Bond Register ($386.74): both approved 3–0.

Why it matters

Hickory Hollow represents the commission's effort to spur residential infill in Hobart using TIF to cover eligible public infrastructure costs, shifting some upfront infrastructure costs to be reimbursed from future incremental property tax growth in the development area. The commission also moved forward on property‑level tools — blight findings and a property acquisition list amendment — that preserve options for future redevelopment along several corridors, including Route 6 and State Road 130.

Supporting details and next steps

- The Hickory Hollow program documents list 108 units on roughly 57.78 acres, total private investment of $51,500,000, and anticipated public infrastructure reimbursement needs of $4,150,000. The RDC approved the declaratory resolution; the designations will proceed to City Council review as required by Indiana Code.

- Baker Tilly presented the annual TIF overview for existing allocation areas and projections for the proposed I‑65 & 37th Avenue allocation area, noting revenue increases in 2025–2026 driven by new construction and corrected apartment assessments. Greg Balsano of Baker Tilly reviewed coverage ratios and modeled impacts if TIF revenue were not available for certain projects.

- On US‑30 & Colorado safety work, the commission approved Change Order No. 8 reflecting a contractor credit of $300,460; staff said this resulted from using the contractor's Merrillville office and encountering suitable soil at a shallower depth, which eliminated one subgrade treatment. The total adjustment reported to date was $231,580.26 in savings.

- The commission approved a real estate purchase agreement to acquire 2711 W. 37th Avenue; staff stated the RDC may offer the greater of two appraisals ($100,000) and that the city would fund the purchase through the RDC to support Route 6 TIF revitalization.

- Two parcels were determined blighted to allow appraisals and future negotiation: the Gant/Debusk parcels at 800 W. Old Ridge Rd., and a vacant lot identified as Rush Place (no formal street address, Parcel 45‑09‑21‑351‑027.000‑045). Staff emphasized these determinations do not commit the RDC to purchase.

- The commission approved its register of claims (total $82,745.41) and a 2020 bond requisition ($386.74). Staff reported updates on Ridge Road property transition discussions, roundabout punch‑list completion, the Schottenstein property developer outreach and RFP work, a facade grant follow‑up for Bar and Rec, a riverfront permit application in ATC review, Business Advisory Committee outreach, and marketing coordination talks with SouthShore Visitor's Convention Authority.

Who said what

- Tom Everett (Barnes & Thornburg), bond counsel: summarized the Hickory Hollow program parameters and statutory basis for TIF reimbursement. - Greg Balsano (Baker Tilly): presented the annual TIF update and revenue projections for existing and proposed allocation areas. - Ryan Cook (RDC attorney): confirmed the public‑notice and prior procedural steps for the I‑65 & 37th Ave confirmatory resolution, calling the RDC vote "the last step" in the confirmatory process.

What the RDC will do next

The Hickory Hollow declaratory resolution will advance to City Council consideration as required by statute. Staff will pursue appraisals and negotiations on the parcels identified for potential acquisition and will continue project and funding oversight on the other items referenced in the staff report. The RDC will monitor required public notices and statutory steps as the Hickory Hollow process continues.

Ending note

All formal motions at the June 15 meeting passed unanimously (3–0). The meeting adjourned at 9:38 A.M. Minutes were prepared by Community Development Coordinator Kate McGill and later approved July 20, 2026.