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Committee accepts 2025 TIF report showing $157M revenue, $217M expenses
Summary
Finance staff entered the 2025 tax increment finance report into the council record; Jenny Carter told the committee 51 TIFs generated $157 million in revenues and $217 million in expenses, a $60 million net position change. Members asked about timing, negative balances in developer-backed TIFs, and reporting cadence.
The Metropolitan Economic Development Committee accepted the city’s 2025 tax increment finance (TIF) financial report for the council record.
Jenny Carter, budget manager with the Office of Finance and Management, told the committee the report covers 51 active TIF districts in Indianapolis. “In total, 51 TIFs were active in Indianapolis in 2025,” Carter said. “These TIFs saw revenues of $157,000,000 and expenses of $217,000,000 for a net position change of $60,000,000.” She said all expenditures—debt service or one-time transactions—are approved by the Metropolitan Development Commission and the full report is filed with the Department of Local Government Finance.
Councilors asked about the timing and meaning of negative or zero fund balances. Carter explained that developer-backed bond TIFs can show negative balances because of timing differences in recognizing expected revenue and reserve requirements; in those cases, developers typically make up variances per contractual agreements. Councilor Brandon asked whether this presentation represented the normal cadence; staff said it did and that this was the first time the report was presented to this committee though it is filed annually with state oversight. The committee voted to accept the report into the record.
