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Tippecanoe EDC approves developer-backed bonds for 251-unit Reserve at Millbrook
Summary
The Tippecanoe County Economic Development Commission approved a resolution authorizing taxable developer-backed revenue bonds (not-to-exceed $11,000,000) to support TRG West Lafayette LLC's $62.5 million Reserve at Millbrook multifamily project after a developer presentation and Q&A on financing and TIF structure.
The Tippecanoe County Economic Development Commission voted to approve a project report and a resolution authorizing taxable economic development revenue bonds tied to TRG West Lafayette LLC's Reserve at Millbrook, a two-phase residential and retail development north of County Road 425. Chair (speaker 1) moved to approve the EDC report and committee members approved both the report and Resolution No. 2026-02-EDC by voice vote.
Grant Deaton, senior development director at the Ridge Group, described the project's first phase as a 251-unit, $62,500,000 multifamily development with 412 parking spaces and luxury finishes. "This will be a developer backed bond, so there's no risk or cost to the county," Deaton said, summarizing the structure the developer proposes. Deaton and bond counsel explained the commission would act as issuer under state law, with actual repayment tied to incremental tax revenues pledged to the redevelopment commission.
