►
Description
Call to Order
• Approval of Minutes from October 14, 2021
• Claims Approval
• Old Business:
o Monthly Financial Review
o READI Grant Update
• New Business:
o TIF Annual Creation Tax Impact Statement
• City Matters/Updates-Mayor Courtney
• Next Meeting Date: December 7, 2021 @ 3:00 pm
• Adjourn
A
B
The
only
point
I
want
to
make
out,
like
I
was
saying,
is
that
on
page
six,
which
is
the
monthly
cash
flow
page,
just
the
number
that's
blooming
in
december.
Basically,
the
way
our
system
treats
as
any
projects
that
we'd
originally
planned
for
this
year
of
2021.
B
The
system
still
wants
it
to
see
as
it's
completed
in
21..
Obviously,
a
lot
of
those
aren't
realistically
going
to
happen
this
year,
so
claims
are
going
to
be
more
on
par
with
what
we've
seen
throughout
the
rest
of
the
year
and
then
once
we
roll
into
next
year,
mayor
and
I'll
have
discussions
on
what's
going
to
end
up
in
22
versus
23
timing
of
those.
So
that's.
D
D
There's
about
1.9
million
dollars
of
potential
capital
outlays
that
we
had
identified
at
the
beginning
of
the
year.
That
really
are
going
to
be
moving
over
into
2022
or
later.
So
one
of
the
things
that
has
you
know
just
stalled
out
stalled
us
out
a
little
bit
on
updating
our
projections
is
to
see
where
we
land,
with
the
ready
grant
proceeds
and
I'll
give
you
an
update
on
that
in
a
minute.
D
But
the
reason
I'm
bringing
up
these
projections
is
to
let
you
know
that,
as
as
parker
stating
based
on
their
model,
it's
showing
that
anything
that
was
forecasted
to
be
spent
in
2021
that
hasn't
been
spent
based
on
their
modeling
appears
to
be
spent
in
december.
It
just
keeps
pushing
out
where,
in
fact
about
1.9
million
dollars
of
those
potential
capital
outlays
are
really
2022.
D
As
an
example
would
be
the
commitment
we
made
to
habitat
for
humanity
for
a
hundred
thousand
dollars
to
help
with
the
development
of
the
subdivision
up
there,
part
of
the
process
before
we
can
make
that
contribution
to
them
is
for
them
to
finish
their
zoning
and
planning
which
isn't
done
yet,
and
so
because,
because
we're
waiting
on
some
entitlement
process
with
regard
to
the
real
estate,
that
means
that
we
haven't
made
a
commitment.
Yet
another
example
would
be
the
super
overlook.
D
Earlier
this
year
we
made
a
250
000
pledge
to
the
riverfront
riverfront
development
committee
to
help
capitalize
the
development
of
the
super
overlook
that
was
contingent
on
them
finishing
up
their
construction
plans,
getting
corps
of
engineers,
permission
and
doing
the
rest
of
their
capital
campaign,
which
is
still
ongoing.
So
that's
why
we
haven't
funded
that
yet.
So
there
are
things
like
that
that
we
still
have
earmarked
they're
still
part
of
our
development
plans,
but
they're
just
going
to
move
into
a
different
fiscal
year
and
then,
with
the
with
ready
grant
being.
D
This
summer,
which
then
led
us
down
another
path
of
economic
development,
planning
for
destination
and
workforce
development,
that
is
also
kind
of
moved
numbers
around
and
caused
us
to
really
pause
and
give
a
lot
of
thought
to
what
we
want.
What
we
want
those
plans
to
look
like
if
you
have
any
questions
on
the
projections
I'll
be
happy
to
answer
those
but
you'll
get
more
detailed
information
as
we
kind
of
cycle
through
ready
and
then,
if
you
don't
have
any
questions,
I'll
go
right
into
a
ready
grant
update
for
you.
D
D
D
They
selected
our
destination
madison
plan
to
incorporate
in
their
statewide
submission
when
we
were
working
with
them
on
our
destination
madison
plan
which
had
eight
projects
in
it,
because
it's
so
competitive
and
they
were
looking
at
infrastructure
workforce
as
well
as
tourism
promotion
of
tourism
across
the
five
county
area.
D
We
went
through
and
started
refining
our
destination
madison
plan
to
include
out
of
the
eight
projects.
The
rda
submission
is
going
to
primarily
include
three
or
four
of
them,
and
then
the
ones
that
that
are
not
in
the
top
category
will
be
supported
by
the
rda.
But
we
are
now
working
through
finalizing
the
rda
plan
presentation.
A
D
Participate
in
the
presentation
to
iedc
after
thanksgiving
so
and
the
plan
is
for
the
iedc,
which
controls
500
million
dollars
from
the
budget
from
governor
holcomb's
budget
is
to
make
the
initial
award
to
the
regions
across
the
state
for
the
initial
grant
application
so
we're.
Looking
again,
we
worked
hard,
I'm
really
proud
of
those
two
plans
and
what
it
created,
because
it
is
about
revitalization
infrastructure,
housing,
workforce
expansion.
D
Great
plans
creates
a
roadmap
for
us
for
the
next
three
or
four
years,
but
by
the
end
of
the
year
we
should
receive
some
feedback
from
the
state.
With
regards
to
a
how
much
of
the
award
of
the
500
million
will
the
rda.
C
D
And
then
from
that,
how
the
rda
will
then
award
it
to
each
applicant
in
their
primary
primary
areas
that
they
want
to
support.
So
a
lot
is
going
on
there
and
that's
why
this
whole
process
throughout
the
course
of
the
year.
It's
really
been
pretty
fluid
because
we
are
making
commitments,
but
those
commitments
come
with
partners.
D
Those
partners
have
obligations
for
either
private
capital,
investment
or
development
work
that
they
have
to
do,
and
that's
why
things
are
constantly
obviously
constantly
moving
and
not
to
mention
the
fact
that
we
are
that
we
have
been
in
and
still
are,
in
a
market,
that's
very
disrupted,
both
on
the
construction
side
of
things,
as
well
as
the
labor
force
and
supply
chain.
So
that's
affected
everything,
but
the
outlook
is
really
really
strong
for
2022
and
23
and
24
with
our
planning
and
the
good
news
is.
D
We
have
great
partnerships
that
are
going
to
create
a
substantial
amount
of
private
investment.
The
next
few
years
across
the
community
and
the
assessed
values
in
our
tif
districts
are
are
growing
and
that's
going
to
create
more
revenue
for
us
to
invest
as
well
I'll
pause
there
and
at
the
next
meeting
at
the
next
meeting,
we've.
Actually
we're
featured
in
a
video
that
the
rda
prepared
and
we'll
we'll
share
that
with
the
redevelopment
commission.
The
next
week.
D
Okay,
thank
you
I'll
ask
parker,
then,
to
talk
about
the
10th
annual
tech
symphony
impact
statement.
B
The
first
page
is
great
introductory
page
the
presentation.
Basically,
this
is
just
another.
This
is
the
final
reporting
requirement
owed
by
the
rdc
to
the
state
of
indiana
this
one.
Today,
just
the
topics
of
discussion,
they're
going
to
be
just
a
financial.
B
Like
where
the
plans
are
at
this
year,
what
our
future
plans
to
the
rdc
and
finally
just
a
discussion
on
the
test
impact,
obviously
we
can
see
the
the
physical
items
that
the
tiff's
impact
is
on
the
community,
the
reconstruction,
the
redevelopment,
the
new
buildings
stuff
like
that.
But
what
is
the
actual
financial
impact
of
there
so
jumping
into
the
next
page?
We're
going
to
look
and
take
a
look
at
the
inside
the
rdc,
specifically
madison's.
B
Here
we
can
see
creation
years
and
expiration
years.
Those
that
were
created
in
19
do
not
have
expiration
years
assigned
to
them.
Yet
because
there's
no
debt
outstanding
on
them
as
statute
required
a
statute
depicts,
then
we
can
see
2022
projections
for
the
incremental
assessed
value.
Those
are
certified
at
the
county.
B
Now
we
can
see
really
north
madison
is
where
all
the
funds
are
coming
into,
but
as
we
see
growth
in
those
other
four
areas,
we'll
see
revenues
asses
assessed,
values
start
to
pop
up
there,
as
well,
currently
for
2022
madison
rdc
has
about
56.8
million
within
its
generating
revenue,
so
now
just
quick
overview.
I
always
like
to
just
keep
this
in
here.
B
Just
how
tiff
works,
I'm
sure
everyone
here
is
probably
aware
at
this
point
just
base
av
whatever
currently
was
on
the
the
parcels
before
development
rolls
in
we
tiff
said
parcels
building
is
built
incremental,
ib,
the
blue
triangle.
There
it's
what
we
generate
all
of
our
tif
revenues
off
of
and
then
finally,
after
the
life
of
the
tif
is
up,
and
it
expires
that
burnt
orange
color
out
there
to
the
right.
That's
going
to
be
symbolizing.
All
that
assessed
value
both
base
and
increment
flowing
back
to
the
underlying
units.
B
A
quick
financial
position
of
each
of
the
funds
madison
or
excuse
me,
the
northwest
allocation
area
is
really
the
only
one,
a
point
outside
of
the
north
madison
allocation
area.
It
received
its
first
little
tranche
of
revenues
this
year.
Obviously
it
was
just
a
dollar
but
again
first.
B
Have
its
own
funds?
That's
why
it's
separated
out.
As
far
as
north
madison
allocation
area
goes
beginning,
your
balance
is
actual.
You
will
see
that
ties
to
your
guys's
monthly
financial
plan
as
far
as
revenues
that
will
tie
as
well
expenditures
and
then
thus
the
ending
year
balance
those
are
going
to
differ
from
the
plan
purely
because
I
went
ahead
and
took
the
liberty
of
taking
out
some
of
the
the
items
that
probably
are
not
going
to
happen
this
year,
the
big
ticket
items.
B
B
Next
page,
to
make
current
projects
and
future
plans
for
the
rdc.
Obviously
I
could
make
three
or
four
pages
for
this
page
here,
but
just
keeping
a
very
high
level
ver
and
very
simplistic
for
these
ongoing
projects
on
the
left.
The
items
that
we
saw
happening
this
year
and
then
future
plans
for
the
rdc.
A
B
So
now
is
where
we
kind
of
start
getting
into
a
little
bit
of
the
nitty-gritty.
You
could
say
the
actual
tip
impact
portion
of
this
presentation
in
order
to
move
into
this
section,
I
like
to
present
this
question
of
what
would
property
taxes
collected,
look
like
if
the
city
never
utilized
tiff
in
the
beginning,
so
dating
all
the
way
back
to
1995
when
madison
first
created
its
first
tip
allocation
area
and
all
current
development
that
tiff
was
utilized
for
that
tipped.
B
B
So
that's
where
we
kind
of
get
this
quantified
chart
here
on
the
next
page.
We
see
all
the
overlapping
units
for
madison's
redevelopment
commission
simply
put
that's
any
unit
that
has
a
taxing
rate
within
madison's,
taxing
district
moving
to
the
right.
You
see
the
gray
boxes.
We
see
the
circuit,
breaker
impact
or
the
impact
to
those
units
so
again
simply
kind
of
put
what
that
is
is
if
the
tif,
if
tif
revenues
we
have
an
and
or
here
we
can
either
collect
tif
revenues.
We
can
pass
this
av
through
to
the
underlying
units.
B
Those
impact
amounts
is
what
they
would
be
collecting.
Should
this
av
still
happen,
regardless
of
tiff
but
hand
it
off
to
them.
Then
we
see
20
21
budget
and
the
impact
as
a
percent
of
those
budgets.
Here
we
can
see
that
there's
no
large
percent
impact
of
concern
or
anything
so
walking
down
the
rest
of
this
page.
We
see
the
summation
of
the
impact
above
884
000,
2021
tif
revenue
collections
are
targeted
right
at
1.6
million.
B
So,
stepping
into
the
next
page,
with
the
last
page,
I'm
just
kind
of
taking
a
little
bit
more
time
to
explain
those
numbers
you
saw
on
the
last
chart.
So
we
kind
of
coined
tiff
margin
as
the
additional
money
that's
collected
for
every
one
dollar
by
the
rdc.
So
how
much
of
each
dollar
is
the
rdc
responsible
for
generating
from
addison
it's
about
47
cents,
so
about
for.
B
About
half
of
that
is
due
to
the
utilization
of
tiff.
How
is
this
able
to
be?
How
has
this
occurred?
You
could
say
it
really
drills
down
the
point
that
the
way
revenues
are
calculated.
Tiff
doesn't
quite
have
as
many
constraints
as
the
city's
general
fund
or
schools
operations
fund.
B
There's
no
max
levy
growth
quotient.
There
state
only
allows
those
units
to
grow
their
fun,
their
grow,
their
property
tax
levy
by
a
certain
percentage.
Each
year,
tif
doesn't
they're
able
to
work
around
that
constraint.
They
don't
have
that
burden
for
them,
so
they're
able
to
grow
property
tax
revenues
quicker
so
simply
put
1.6
million
will
be
collected
in
tif
revenues
this
year
in
2021,
793
000
would
be
collected
that
is
collected
due
to
the
city's
utilization
of
tiff,
leading
to
884.
C
B
I
know
that's
a
lot:
it
is
every
year.
This
is
the
same
presentation
we
give,
but
every
year
it's
still
a
bit
of
a
data
dump.
You
could
say
so
I'd
be
more
than
happy
to
answer
questions
now.
Should
there
be
any
or
down
the
road
if
any
kind
of
eyes
I'd
be
more
than
happy
to
kill
them
as
well.
So
with
that
note,
are
there
any
questions.
D
B
So
one
of
them
was
a
letter
inviting
all
underlying
units
to
attend
this
meeting
for
this
purpose
here,
the
other
one
is
I
assumed
that
the
confirmatory
resolution
for
super
18
was
going
to
be
tonight
and
that's
what
that
one
okay
comprised
of
ought
to
send
out
new
ones
this
month,
once
we
get
closer
to
the
december
meeting
and
then
that
one
will
be
for
the
confirmed
signing
pass.
I
just
want
to.
D
Mention
so
then
notice
the
taxpayers,
here's
the
title
of
the
document
notice,
the
taxpayers
and
all
of
the
persons
affected
of
adoption
and
content
and
resolution
city,
massive
redevelopment,
commission
and
notice
of
public
hearing
resolution.
There
was
a
date
in
there
for
rematches
or
questions
or
comments
to
be
delivered
by
november.
The
first
we
did
not
get
any
companies.
D
B
D
B
C
D
D
Let's
give
you
a
couple
of
updates
on
things
you've
seen
through
here
confirming
with
parker.
We
are
scheduled,
though,
for
monday's
plan
commission,
with
the
order
on
the
adopting
super
hd
project
into
the
new
plan.
Okay.
D
So
if
you
remember
the
last
meeting,
what
we
did
was
approve
a
declaratory
resolution
creating
a
new
allocation
area
for
supreme
tv,
that's
actually
going
to
go
to
the
project
itself
is
going
to
go
to
the
plan
commission
on
monday
for
their
approval.
D
We
still
have
are
working
through
projections
on
what
level
of
additional
investment
and
increase
in
revenue
that
that
investment
will
make
for
that
new
allocation
area.
So
we'll
circle
back
with
you
when
we've
got
those
more
refined
right
now
we're
working
on
a
lot
of
assumptions
and
a
lot
of
changing
assumptions.
I
should
say
we
also
approved
the
last
meeting
a
subdivision
of
the
industrial
park,
we're
also.
We
finished
that
up.
That's
going
to
plan
commission
on
on
monday
for
their
final
sign
off,
and
that
will
be
done.
D
We
are
working
on
a
downtown
parking
study
that
redevelopment
commission
is
funding.
The
company
that
we
hired
hwc
engineering
was
in
town
about
a
week
ago,
if
you
recall
they're,
doing
using
drone
technology
for
a
three-day
period
to
really
measure
what
our
traffic
patterns
are
in
this
designated
area
that
we
created.
D
We
should
have
some
preliminary
feedback
from
that
about
our
parking
inventory
and
then
and
then
what
we'll
ensue
from
that
is
a
discussion
about
how
we
manage
that
inventory
better
from
a
policy
perspective,
what
the
demand
and
supply
is
and
potentially
what
additional
investment
needs
to
be
made
to
have
better
parking
in
the
downtown
area,
both
weekday
and
weekend.
So
by
mid-november.
We
should
have
some
results
from
that
study
that
we'll
start
refining
and
bringing
back
to
the
redevelopment
commission.
D
Finally,
a
good
note.
Last
week,
we
we
had
the
ground
breaking
for
crystal
beach,
which
finally
got
finally
got
off
to
a
good
start
in
earnest,
and
that's
a
approximately
a
2.7
million
dollar
project.
2
million
of
that's
funded
through
our
oka
grant
and
then
700
000,
funded
by
the
redevelopment
commission
as
part
of
stellar
investments,
and
they
are
expected
to
deliver
us
the
pool
by
may
the
13th
so
that
we
can
be
on
scheduled
open
for
the
memorial
day
weekend.
D
So
it's
it's
going
to
be
a
lot
of
work
between
now
and
then,
but
if
you
drive
by
there,
you'll
start
seeing
piles
and
piles
of
material.
That's
being
you
know,
demoed
out
of
the
existing
pool
house
and
the
actual
infrastructure
underground
infrastructure,
but
we're
happy
to
see
that
that
project
take
off
and
we
have
a
lot
going
on.
It's
gonna
be
very,
very
busy
for
the
balance
of
the
fourth
quarter.
D
Happy
stop!
There
answer
any
questions
and
that's
about
it
for
today's
agenda.
I
appreciate
everybody
join
us
today,
anything
else
to
come
before
the
commission
today.