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Treasurer reports TIF balances; Michigan City moratorium cited as limiting some extensions
Summary
Treasurer reported multiple TIF account balances including a US 4-21 balance of $664,185 (spring settlement $282,252) and noted smaller or negative balances in other TIF accounts; staff said a Michigan City moratorium on utility extensions could delay some projects.
The commission received the treasurer's report and an update on TIF districts at its July 22 meeting. The treasurer reported the US 4‑21 TIF balance as $664,185, reflecting a spring settlement of $282,252; the treasurer also said other TIF funds showed much smaller or negative balances and explained that a bond payment affected one account. The report concluded with an overview of smaller fund balances and the end of the treasurer's presentation.
Mister Reardon told commissioners that Michigan City has a moratorium on sanitary (and reportedly water) extensions that could stall some projects until utility capacity or policy changes occur. He said a hotel at the 04/21 location appears to be open and described nearby property the redevelopment team will target for distribution activity. Commissioners accepted the treasurer's report by motion.
