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Redevelopment commission pledges surplus TIF revenues to Whitestown under Resolution 2026-07
Summary
The commission approved Resolution 2026-07 to pledge surplus TIF revenue to the Town of Whitestown for a community development project and noted transfers of trusteeship for bond accounts to U.S. Bank are in process.
The Boone County Redevelopment Commission approved a resolution pledging surplus TIF revenues to the Town of Whitestown in support of a local community development project.
Chair (S1) described an agreement signed by Whitestown and indicated U.S. Bank will become trustee on certain bonds. He said the county has received a consent letter related to prior bonds and that final signatures remain to be collected. S1 introduced Resolution 2026-07, which "pledges access to revenue to the town of Whitestown for our project," and asked the commission for approval. A motion was seconded and members voted in favor.
Commissioners also noted the trustee transfer from Bank of New York to U.S. Bank is underway and that staff expect final numbers for upcoming bond payments to be available soon. The chair said staff would obtain the remaining signatures and complete the packet.
