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County receives TIF management report; Grissom TIF shows ~ $1.4M in revenue and housing project moves to utility design
Summary
Economic Development Authority and Baker Tilly presented the annual TIF Management Report to the council, reporting Grissom 2025 figures (~$1.4M revenue, $1.6M expenditures), grants to local projects, and that Nickel Plate Crossing housing is in utility design with first houses targeted late fall/winter.
Jim Tidd of the Economic Development Authority and Anekah Sinykin of Baker Tilly presented the required annual TIF Management Report, noting the report is due April 15 to the Department of Local Government Finance (DLGF) and that the presentation is informational for council minutes.
They explained Tax Increment Financing (TIF) basics (base assessed value vs. incremental value) and reviewed county TIF areas including Grissom TIF and a newly created South Miami County Residential Housing Allocation Area that has not yet generated revenue. The report showed Grissom 2025 figures of approximately $1.4 million in revenue and $1.6 million in expenditures, and listed grants in recent years including $50,000 to the Grissom Air Museum for a B58 Hustler enclosure and $120,000 to Pipe Creek Volunteer Fire Department. The presenters also described the Nickel Plate Crossing housing project (formerly South Miami County Housing): utility, water, sewer and road design work is underway with utility connections targeted for summer and the first house delivery expected in late fall or winter. No council action was required beyond acknowledging receipt of the report.
Presenters noted that expenditures shown in the report include broader redevelopment commission funds (READI projects and bond capital) and reviewed fund balances and outstanding bond obligations dating to 2015 and 2023.
