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Commission backs up to $22 million in bonds tied to TIF for US Corridor project
Summary
The commission approved a companion resolution authorizing steps for issuing up to $22,000,000 in general-obligation bonds, to be backed primarily by TIF revenues from the South allocation area and, if available, net revenues of the Baker's Corner utility.
The Hamilton Redevelopment Commission voted on Aug. 10, 2026 to approve Resolution O8-10-2026-02, a companion measure addressing financing for the US Corridor infrastructure investment project. Bond counsel Dennis Otten told the commission the county will serve as issuer and that the financing will rely on a pledge of TIF revenues from the South allocation area and net revenues from the Baker's Corner utility "to the extent that they are available."
Otten said the proposed bond issue would be structured as general-obligation bonds issued by the county and described the proposal as "not to exceed 22,000,000 of general obligation bonds." He added that the TIF pledge mirrors the payment structure used for 2023 bond anticipation notes. Commissioners moved, seconded and approved the resolution by voice vote.
The approval authorizes the administrative steps required to proceed toward permanent county-issued financing; the commission did not provide a line-by-line roll call tally in the transcript.
