Minutes 2009 - Laserfiche WebLink

Home Browse Search

MOORESVILLE, REDEVELOPMENT COMMISSION MINUTES THURSDAY, JUNE 25, 2009, 7:00 A. M. The Mooresville Redevelopment Commission met on Thursday, June 25, 2009, at 7:00 P. M. Commission members present were: Chairman Jim Ransome, Mike Haskins, and George Watkins.Non-voting member Bev Viles was present. Town attorney Tim Currens was present. This is the annual meeting to decide on capturing all TIF funds or passing thru TIE funds. Jason Semler, H. J. Umbaugh &Assoc. explained to the commission that by July 15, 2009 the commission has to notify all entities how much assessed value and if the commission is going to pass thru or capture the funds. Jason gave a report on the history of TIF 1. The taxes reimbursement for TOA, USA will end in 2012. Next, Jason gave the history of TIF 2. Currently no bonds are outstanding and there is a positive trend in Arca 2 tax collections. Jason explained TIF funds can be used to help town budget, funds for repaving streets in the TIF areas and for street scaping. The fire station was an excellent use and the town has to have a good base to get industries to locate here. TIF funds pay for 27% of wastewater projects as needed for growth. Commissioner Watkins slated that if our tax rate is on the low end and we have a list of projects, it doesn't make sense to pass thru any funds, so he was in favor of capturing the full amount. Bev Viles asked what happens if we pass thru, do we lose it and start over again the next year? Attorney Currens said each year is on its own. It passes thru as other property taxes in that year. Jason interjected that the commission would not want to pass thru one year and the next year not pass thru especially as it affects the budget cap each year. I t would make projecting a budget very difficult. A motion was made by Commissioner Haskins with a second by Commissioner Watkins to capture revenues for 2009 for TIF 1 and TIF 2 and notify all entities. Motion carried 3-0. The full report from Umbaugh is filed in the Redevelopment Binder in the Clerk- Treasurer's office. A motion was made by Commissioner Watkins with a second by Commissioner Haskins to have Chairman Ransome be the signatory on the paperwork. Motion carried 3-0. Other business: Indy Tractor hasn't started building yet. The fire station project is finished. Sandra Perry gave the financial report. There being no further business to come before the commission at this time a motion was made by Commissioner Haskins with a second by Commissioner Watkins to adjourn. Motion carried 3 to O. Chairman Attest: