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Redevelopment Commission reports $5.4M increment receipts and $2.1M payments in 2025
Summary
Redevelopment Director Elissa McGauley told Council the commission received about $5.4M in property tax increment across its 30 allocation areas in 2025, made ~$2.1M in bond/loan payments and retained ~$7.9M in capital fund balance for Stonebridge-related work.
Elissa McGauley presented the Redevelopment Commission’s 2025 annual report required by Indiana Code. She told Council the commission made approximately $2.1 million in payments on bonds, loans and reimbursement agreements and that combined TIF receipts were about $5.4 million with $2.2 million in expenditures for the year. "The Redevelopment Commission has been in place since 1982," McGauley said, and she described the commission’s structure, staffing and reporting obligations.
McGauley also noted the commission controls multiple funds (general, capital, and per‑allocation area TIF funds), maintains separate accounting for each allocation area and provided that 21 of 30 allocation areas will collect increment in the coming year while nine will release increment back to taxing units. She offered to supply Council with the annual spending plans for each TIF district and said staff will continue to provide district‑level reporting.
