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A
B
Great,
so,
let's
call
to
order
the
Redevelopment
commission
meeting
for
December,
the
or
sorry
for
January
3rd.
B
B
So
the
first
one
was
the
several
claims:
totaling
231
thousand
and
sixty
five
dollars
and
thirty
nine
cents.
The
largest
in
there
is
just
the
bond
payment
for
the
Madison
Plaza.
B
B
Second
order
on
the
claims
is
a
bond.
This
is
the
seventh
disbursement
on
the
Madison
Plaza
or
the
this
is
the
plaza
bond
for
the
hunting
disbursement
for
two
twenty
thousand
dollars
and
180
20
183
dollars
and
nine
cents.
A
Yeah,
so
in
your
packet,
you
will
see
a
financial
update.
We
worked
with
really
Financial
to
try
to
simplify
that
towards
the
end
of
last
year,
so
hopefully
it's
making
a
little
bit
a
little
bit
clearer
in
in
those
outcomes
and
I'll.
Let
Gary
walk
through
where
we
are
at
the
end
of
2022.
C
A
C
You
Tony
I
first
question:
I
was
going
to
ask
you
know
this.
This
financial
report
is
a
you
know,
a
intimate
summary
of
the
Redevelopment
commission,
and
this
is
actually
also
segues
into
your
annual
reporting
requirements.
On
page
three
of
the
document,
we've
got
all
the
2022
RDC
appointments.
Are
there
any
changes
in
Commissioners
and
officers
for
2023
Tony
that
we
can
update
this
with
for
next
year?.
D
Gary
no
CH,
this
is
mayor,
Mayor,
Bob,
Courtney.
There
are
no
changes
in
the
well.
We
I
guess
it's
the
first
meeting
of
the
year.
We
need
to
elect
the
officer.
So
if
that's
what
you're
asking
all
the
members
of
the
commission
are
staying
the
same
except
we
will
be
working
with
mass
and
Consolidated
School
Corporation
for
a
new
Advisory
Board
member
appointment,
so
Mr
President
there.
D
We
should
probably
have
a
nomination
for
president
vice
president
secretary
for
the
commission.
Okay,
currently
it's
John
Grody,
President,
Dan
Hughes,
vice
president
and
Joe
Craig
as
secretary.
C
Okay,
yeah,
whenever
you
guys
make
those
determinations-
obviously
maybe
it's
the
occlusion
of
today
or
next
time-
I,
just
let
us
know
and
we'll
get
this
updated
for
2023.
just
wanted
to
draw
some
attention
to
that
quickly.
Thank
you,
so
page
four
for
those
of
you
that
have
I
mean
you
felt
obviously
seen
this.
This
was
all
of
your
allocation
areas.
Declaratory
resolution
dates
and
tip
expirations.
Obviously
the
chip
is
not
a
asset
in
perpetuity.
There's
expiration
dates.
So
all
that's
built
out
there
for
reference.
C
If
anyone
has
any
questions
about
that
they're
on
page
four
page,
five,
those
are
the
claims
we
just
went
over.
We
like
to
build
that
in
there
as
well
and
then
page
six,
you
know
page
six
is
a
really
important.
C
You
know
document
because
it
it
it
looks
into
our
cash
flows
month
by
month.
So
this
is
actually,
you
know
completely
updated
with
2022
final
now,
2.1
million
dollar
be
any
cash
balance
there
in
December
ending
the
month
with
2.7
million
and
receiving
our
final
settlements
of
768
750.
We'll
go
over
that
here
in
a
little
bit
detail
and
then
the
next
page
is
our
actual
breakdown
of
the
North
Madison
allocation
area
there
on
page
seven.
So
on
page
seven,
this
is
where
we
can.
C
You
know
summarize
and
I
guess
close
out
the
picture
of
2022.
we've
got
2020
2021
projected
2022
and
then
projecting
out
a
couple
of
years
there.
So
one
of
the
things
as
I
mentioned
before
that
I'll
draw
your
eyes
to
is
the
Tiff
Revenue
collections
so
projected
2022,
one
million
seven
fourteen
905
actual
collections
as
of
12
20
20
22,
one
million
seven
fourteen
905.
So
we
collected
exactly
as
we
were
projecting
this
year,
which
is
always
a
good
thing.
C
If
there's
any
you
know,
big,
you
know
swings
to
the
positive
or
swings
to
the
negative.
We
want
to
know
why
going
forward
into
2023
you'll
see
that
we've
updated
the
tip.
Revenue
collection
number
based
on
the
certified
net
assessed
value,
so
we
have
one
million
860
000
there
there
there
was
a
slight
uptick
in
Revenue
capture
for
for
next
year.
C
So
again,
that's
based
on
the
certification.
Those
numbers
can
change
based
on
actual
Billings.
That's
what
we're
tracking
right
now
going
down
the
list.
You'll
see
all
the
capital
outlays
and
Debt
Service
payments
I
won't
go
through
each
of
them
individually,
but
you'll
see
for
the
year
in
2022,
just
shy
of
2
million
total
and
spending
comparatively
compared
to
3.2
million
total
in
Revenue,
so
generating
around
a
1.3
million
dollar
Surplus
in
total,
which
brings
us
to
our
year-ending
fund
balance
of
two
million
seven
fourteen
two
thirteen
for
2022.
C
This
commission
will
receive
almost
this
exact
same
presentation
prior
to
April
15th
for
your
I
guess:
crowd
April
1st
for
your
your
tip
annual
report.
We'll
go
over
all
this
again.
Once
these
numbers
are
finalized,
the
books
are
reconciled
at
the
clerk
Treasurer's
Office,
but
we
anticipate
this
to
be
a
very
close
number
to
to
where
we're
going
to
be.
At
the
end
of
the
year.
Looking
forward
to
2023
again,
we've
updated
the
revenue
collections.
You.
C
Sat
down
and
we've
gone
through,
you
know
Debt
Service
payments
and
all
the
things
that
we
can
think
of
and
there
as
well
for
capital
outlays
in
2023.
For
so
those
are
all
the
things
that
we've
we've
come
up
with
that
we
think
we
need
to
be
tracking
right
now
and
obviously
we
can
see
what
implications
that
have
on
cash
flow
and
you're
earning
fund
balance,
so
getting
a
little
bit
skinny
kind
of
going
into
2023,
with
the
plans
that
we
have
in
place.
C
Obviously
our
our
goal
is
not
to
stockpile
money.
Our
job
or
our
goal
is,
to
you
know,
look
at
Economic,
Development
incentive
opportunities
and
then
going
forward
a
2024.
You
know
having
similar
opportunities
there
with
Collections,
and
you
know,
even
potentially
an
additional
Bond
proceed
issued
there
in
2024
to
help
Shore
up
some
of
the
long-term
plans.
So
those
are
just
some
of
the
things
we're
tracking
right
now
for
Capital
outlays,
but
you
know
2023
2024,
that's
a
living
breathing
document.
C
These
things
change
all
the
time,
we'll
make
sure
that
we're
in
constant
communication
with
the
Redevelopment
commission,
with
Tony
with
mayor
on
updating
this
to
be
as
accurate
as
possible
moving
forward
and
then
finally,
page
eight
and
page
nine,
just
some
housekeeping
items
there
as
part
of
your
annual
report
and
requirements,
we
like
to
include
there.
So
that's
the
presentation
for
2022.
A
Gary,
it's
Tony
I
have
a
question:
what
was
our
ending
balance
at
the
end
of
2021
and
our
ending
balance
compared
to
today.
C
Yeah
so
you're
earning
fund
balance
in
2021
was
1
million
374
one
one
one,
and
then
we
are
projecting
that
the
year
ending
fund
balance
for
2022
will
be
just
north
of
2.7
million.
So
a
total
I
guess:
net
cash
inflow
of
1
million
three
hundred
forty
thousand.
A
A
There's
a
couple
of
those
projects
in
there
that
we
were
having
as
placeholders
as
those
projects
come
about,
and
we
may
not
necessarily
need
those
funds
to
be
expended
there
as
well
and,
as
you
know,
timing
on
some
of
these
projects,
as
I
report
later
on
a
couple
bids,
we'll
delay
some
of
that
stuff,
so
I
think
2023
will
be
fine
as
we
plan
the
rest
of
the
year.
What
are.
A
D
Commission
I
hope
that,
over
the
three
years
we've
been
doing
this
together,
you've
seen
a
progression
of
a
more
logical
setting
forth
of
cash
flow
project,
management
and
and,
most
importantly,
growing.
You
know
ref
district
and
we
do
that
by
stacking
our
investments
and
then
attracting
outside
capital,
and
some
of
these
numbers,
in
my
opinion,
are
conservative,
because
they
don't
even
yet
reflect
higher
assessed
values
from
some
of
those
Investments
more
more
particularly
like
a
sunrise
Crossing.
D
We
won't
realize
any
real,
meaningful
value
from
that
investment
from
a
tiff
perspective,
till
24
and
25
2024
2025.
But
what
that
does?
Is
it
positions
us
really
well
to
organically
for
create
that
Capital
that
we
then
leverage
with
other
investment
to
continue
with
our
Economic
Development
priorities
across
the
city
and
I?
Think
that
has
there
been
a
little
bit
of
fluidity
with
regards
to
which
projects
we've
invested
in
what
we'll
always
be
searching
for?
Are
those
you
know
that
we
can
leverage
with
a
high
return
on
investment
and
meaningful
impact
to
the
community.
C
And
just
to
piggyback
on
that
point,
mayoral
is
going
to
add.
You
mentioned
the
sunrise.
Crossing
I
mean
the
administration
in
this.
This
board,
you
know,
commends
everyone
for
a
job
well
done
in
2022.
You
know
defenderized
trusting
opportunity,
as
we
mentioned
before,
you
know,
tips
don't
last
forever.
Redevelopment
commission
allocation
areas
don't
last
forever
and
our
primary
source
of
Revenue
is
currently
you
know,
as
you
know,
going
to
page
four
North
Madison
allocationary
original
fifth
expiration
in
2035.
C
You
know
that
these
new
areas
and
these
new
you
know
Ventures
that
the
community
is
investing
in
that
setting
is
up
for,
for
you
know,
revenues
and
opportunities
for
economic
development
advancement
for
decades
to
come,
and
that
was
strategically
structured
to
allow
us
to
maximize
those
cash
flows
over
a
really
long-term
time.
Horizon.
So
again,
just
commending
the
the
board
and
the
administration
and
everything
we've
accomplished
in
2022
I'm
excited
about
the
opportunity
these
that
the
Redevelopment
commission
has
going
forward.
D
Yeah,
and
on
that
note,
you
know
what
Gary
really
bring
it
up
is.
That
is
that
these
allocation
areas
will
last
forever
so
at
some
point
in
time
that
stream
of
Revenue
will
be
redistributed
across
all
units
of
government.
So
in
the
next
you
know
really
12
to
18
months,
we'll
need
to
figure
out
how
we
capitalize
the
and
and
really
take
advantage
of
the
next
10
years
of
Revenue.
D
So
we're
going
to
constantly
be
work
working
on
that
to
make
sure
we
get
the
most
out
of
this
Tiff
Tiff
district
and
then
the
other
side
of
that
is
policy,
and
that
is
working
with
our
legislature,
because
every
Community
across
the
state
solely
almost
solely
relies
upon
their
Tif
districts
as
the
primary
source
of
revenue
for
economic
development
Investments
and
we're
all
facing
the
same
dilemma,
and
that
is
expiring,
Tif
districts
when
they
expire
that
Revenue
goes
away
and
then
what's
going
to
replace
it
for
economic
development.
D
So
there's
a
there's
lots
of
conversations
to
be
had
policy
wise
for
there
to
be
some
extension
of
Tiff
allocation
areas,
some
new
form
of
Tiff
or
some
replacement
form
of
Revenue
that
we'll
have
to
deal
with.
Otherwise,
you
know
the
the
end
of
this
being
fueled
right
now
by
this
currency
that
we
know,
as
Tiff
will
get
less
and
less
over
the
next
10
years.
B
With
that,
without
over
complicating
the
financial
packet,
would
it
be
possible
to
look
back
at
the
Investments
we've
made
and
when
do
we
see
those
assessed
values
start
to
creep
into
the
revenue
side?
Yeah
my
memory
short
or
bad,
and
nothing
but
it'd
be
good
to
see
what
we've
invested
in
and
how
the
assessed
values
actually
come
in.
Hey.
A
C
Let
me
look
and
see
here:
yes,
I
mean
annually.
We
do
what's
called
assist
neutralization,
so
we're
analyzing
all
the
parcels
to
determine
you
know
if
the
values
are
growing
because
they're
just
growing
naturally
or
if
the
values
are
growing
because
of
new
construction
abatements
that
are
rolling
off
things
of
that
nature.
So,
when
you're
seeing
those
values
rise,
you
know
in
the
case
of
the
Madison
North
Madison
allocation
area.
C
You
know
we
collected
1.336
million
in
2020.,
we
collected
1.715
million
in
2021
1.715
in
2022.,
we're
looking
at
1.8
for
for
next
year.
So
roughly
a
hundred
and
fifty
thousand
dollars
increase
in
collections
and
that's
not
as
a
result
of
you
know,
hey
this
values
are
going
up
because
you
know
the
Redevelopment
commission
actually
cannot
capture
those
values.
You
can
only
capture
values
on
new
construction
and
you
know
abated
value.
That's
coming
online,
so
anytime,
you're
seeing
that
Revenue
number
grow,
it's
either
a
because
rates
are
growing
or
B.
C
Because
increment
assessment
is
growing
because
of
you
know
new
construction
and
abatements.
So
you
know
if
we
need
to
if
you
guys
would
like
to
see
a
breakdown
of
How
It's
Growing
it
all
that's
public
information,
the
tip
neutralization
worksheets
are
actually
published
from
the
LG
website
and
I'd
be
happy
to
share
the
link
or
you
know,
share
the
files
with
whoever's
interested
in
looking
at
them,
but
you
can
see
on
manual
basis
actually,
where
your
assessed
value
increase
is
coming
from
and
you're.
C
Seeing
that
on
you
know
new
newly
constructed,
you
know
buildings,
for
instance,
you
know,
can
you
tie
that
directly
to
an
incentive
program?
You
know
lightly.
You
know
the
sunrise.
Crossing
is
a
good
example.
That's
not
came
online
yet,
but
when
that
comes
online,
I
mean
obviously
we
know
we
incentivize
that
project
there
was
a.
C
There
was
a
there
was
a
capital
outlay
for
that
and
in
exchange,
there's
going
to
be
an
assessments
and
a
a
tiff
Revenue
stream
over
a
period
of
time
and
the
nice
thing
about
that
is
or
I
guess
the
difficult
thing
about
that
is
it's
really
difficult
to
calculate
any
sort
of
return
on
investment,
because
if
we
don't
ever
shoot
debt
on
that
property,
you
know
it
will
collect
those
values
and
perpetuity
for
forever,
as
the
statutes
are
currently
written
that
that
cash
flow
will
continue
in
perpetuity
unless
there's
that
issued
on
it.
C
So
you
know
things
like
that.
It's
hard
to
determine
the
value,
but
obviously
there's
a
ton
of
value
there
and
I
can
I
can
definitely
share
again
that
information
with
with
folks
I
guess
one
of
the
other
things
too,
is
it's.
It's
very
delayed
right.
You
know
we're
we're
incentivizing
development,
we're
bringing
things
to
town,
but
when
we're
incentivizing
development
we
may
not
actually
see
you
know
tangible
benefit
until
two
or
three
years
afterwards,
once
ground
open,
you
know
the
buildings
completed
in
a
sense,
then
we
actually
start
capturing
value
yeah.
D
And
I
think
that
was
John's
point,
which
is
you
know,
as
we
really
measure
the
impactfulness
of
the
commission,
the
investment
that
it's
made
and
then,
when
we
start
seeing
trending
up
of
collections
in
the
Tiff
area-
and
we
can
do
that
because
yeah,
you
can
see
the
trend
here,
which
is,
if
you
look
at
2020,
we
didn't
make
very
many
Investments.
It
picked
up
a
little
bit
in
2021
and
then
really
picked
up
steam
in
2022.
D
But
as
Gary
was
saying,
there's
a
lag
effect
of
really
realizing
the
benefit
of
that,
because
it
can
be
two
or
three
years
and
if
you
get
into
an
investment
like
Sunrise
crossing,
that's
a
multi-phase
multi-year
project
or
you
make
an
investment
where
we
acquire
a
piece
of
property,
speculating
that
we're
going
to
do
something
with
it
later.
That
can
take
three
to
four
to
five
years
or
if
we're
buying
property
to
do
quality
of
life,
invest
with
it.
Then
you
won't
see
a
direct
impact
to
the
Tiff,
but
you'll
see
the
area.
D
B
A
Those
of
us
have
abatements,
but
the
cotton
mill,
for
example,
has
the
Jefferson
County
innkeepers
tax,
that's
generating
at
83
rooms
a
night
potentially
so
that
number.
If
we
look
at,
if
we
look
at
the
additional
tax
revenue,
that's
available
to
the
entire
Community
to
use
because
of
that
investment,
that's
a
area
that
we
know
is
going
directly
is
is
a
direct
result
of
of
that
investment.
So
we
know
that's
a
direct
result
of
that
investment
and
I
would
also
say
too
an
investment
like
Sunrise
Crossing.
A
You
know
pull
additional
people
in
from
around
and
they
want
to
be
a
part
of
that.
A
part
of
that
story.
So
there
is
some
indirect
other
Investments
that
will
happen
in
and
around
the
district.
That
won't
necessarily
be
captured
as
a
part
of
the
sunrise
project.
But
without
that
would
not
have
happened.
B
Next
order
is
new
business
we
can
and
I
don't
know
if
we
we
can
do
this,
but
we
can
ask
that
the
the
current
slate
or
last
year's
slate
of
officers
maintain
the
same
as
nominate
one
hole
and
then
get
an
approval.
If
everybody's
okay,
with
that
staying
in
the
same
positions,
we
can
add
that
to
the
agendas
as
new
business.
That's.
B
A
A
Yeah
I
included
a
quarterly
project
update
sheet
in
your
in
your
packet
and
I'm,
certainly
happy
to
answer
any
questions.
I
would
say
strategically
just
a
quick
look
ahead
for
this.
This
coming
next
quarter
or
so
the
mayor
and
I've
had
continued
to
have
positive
conversations
on
a
grocery
store
project.
A
We
don't
have
an
economic
development
agreement
yet,
but
are
taking
the
next
steps
on
that
project
and
hope
to
have
something
to
announce
further
soon
in
terms
of
other
National
retailers,
I
mentioned
we're
working
with
them
as
well
to
try
to
find
locations
on
the
hilltop,
and
maybe
some
announcements
there
coming
I
would
say
that
from
this
commission's
perspective,
the
Michigan
Road
Project.
B
A
Yeah,
so
the
wayfinding
project
we're
that's
the
implementation
of
our
parking
of
our
parking
study
that
was
completed
this
year.
We
are
also
going
to
try
to
leverage
and
capital
stack
those
dollars
associated
with
the
RDC
plan,
with
the
Jefferson
County
Board
of
Tourism.
We
have
submitted
an
application
to
them
to
match
dollar
for
a
dollar
for
some
of
the
wayfinding
and
parking
require
signage
that
we
want
to
include
in
downtown
great.
D
I
will
say
that
the
investment
we
made
in
a
parking
study
gave
us
better
Direction
on
how
to
manage
the
parking
inventory
and
supply
and
demand,
and
that
we
already
have
I
think
for
me
in
particular.
It
it
dispelled
the
myth
that
we
needed
a
multi-million
dollar
parking
garage,
at
least
for
now,
because
we
can
better
manage
the
inventory
that
we
have
and
we
have
a
lot
of
entrepreneur
and
Austrian
parking
that
is
readily
available.
Even
during
even
during
peak
times,
when
our
Central
Parking
Lot
on
Main
Street
is
very
busy
and.
A
I
would
say
also
regulations
is
a
part
of
that
strategy
will
be
part
of
that
and
we're
working
with
city
council
to
look
at
a
new
enhanced
traffic
ordinance
here
coming
up
in
early
2023.
That
will
outline
a
number
of
things
for
UV
EV
parking,
golf
cart,
parking
and
a
number
of
other
kinds
of
parking
regulations
that
will
help
alleviate
some
of
the
congestion
We
Believe,
along
with
good
signage.
D
Tony
on
this
I
was
going
on.
The
summary
I
was
going
to
ask
you
if
you
could,
before
the
next
meeting,
maybe
fill
in
the
estimated
cost
that
you
got,
because
that,
because
the
the
by
leveraging
the
RDC
dollars,
which
is
really
there's
a
few
blanks,
he's
got
to
fill
in
that
we've
I.
Think
yeah.
A
And
certainly
it's
well
over
100
million
dollars
in
in
leverage
as
it
relates
to
those
projects,
so
Super
ATV
and
Madison
Plaza
being
the
big
one.
Super
ATV
is
not
represented
on
this,
but
we
certainly
did
work
hard
and
did
Leverage
that
so
you
had
their
you
had
their
numbers
in
there
and
a
couple
of
the
other
projects.
It's
well
over
100
million
dollars
and.
D
B
Only
thing
the
only
thing
recommendation
is:
if
there
are
things
that
do
change
dates,
is
please
highlight
them
and
and
show
what
the
previous
either
number
was
or
it'll
be
easier
for
us
to
track
as
we're
just
showing
up
at
these
meetings
with
the
one
pack
and
seven
to
look
for
old
ones.
Gotcha
any
other
comments
or
questions
on
the.
B
Anything
else
on
the
on
next
order
of
business
then,
would
be
City
matters.
Mayor
updates.
D
Well,
thank
you
welcome
to
2023
and
in
the
next
month,
or
so
we'll
prepare
a
more
robust
look
back
as
well
as
a
look
forward,
but
from
the
last
meeting
until
now,
I
think
the
Kohl's
announcement
was
probably
some
big
news
for
the
commission
and
final
major
retailer
at
Sunrise
Crossing,
which
also
was
a
catalyst
for
additional
investment
in
that
in
that
corridor,
we're
working
through
the
Planning
and
Zoning
process
for
the
habit.
D
The
habit
of
humanity
subdivision
partnership
that
we've
talked
about
here
just
a
little
while
earlier
I
will
be
working
with
the
school
corporation
for
some
direction
from
them
and
recommendations
from
them.
On
a
new
Advisory
Board
member,
we
will
be
participating
in
the
southern
Indiana
Regional
Development
Authority
meeting
this
Friday,
where
we
will
be
pitching
our
final
three
ready
projects,
which
is
the
partnership
with
Ohio
Theater
that
we're
supporting
the
HMI
Bicentennial
Park
improvements
and
the
Hanover
Madison
connector
Trail,
all
three
of
which
RDC
is
supporting.
D
In
addition
to
the
super
Overlook
and
with
iedc
state
of
Indiana
RDA
funding,
all
indications
are
a
go
for
the
financing
we've
asked
for
from
them,
I'll
be
with
Governor
Holcomb
tomorrow,
as
he
announces
his
2023
budget
priorities.
We're
expecting
that
to
include
already
2.0.
We
are.
We
began
a
new
state
legislative
session,
which
is
also
a
budget
year,
so
between
now
and
April,
they'll
be
concluding
or
debating
or,
however,
you
want
to
refer
refer
to
it
as
the
budget
for
the
next
two
years.
D
Ready
has
been
very
successful
in
literally
bringing
in
probably
about
10
billion
dollars
worth
of
Investments
across
the
state
and
over
a
billion
dollars
to
Southern
Indiana
and
the
Southern
Indiana
RDA.
So
we
are,
we
had
to
table
a
few
of
our
own
projects
just
because
there
wasn't
enough
funding
to
to
go
around
Jefferson
County
did
get
approximately
20
percent
of
the
funding
from
the
RDA,
but
there
were
several
projects.
D
The
city
of
Madison
has
as
a
priority
for
the
next
round
of
ready
funding
and
as
I
mentioned
earlier,
you
know
we'll
also
be
again
looking
for
additional
ways
on
how
do
we
lever
up
and
improve?
You
know
the
stream
of
Revenue
coming
in
through
the
Tiff
district
and
make
impactful
investments
with
high
Returns
on
investment.
B
B
That's
great:
our
next
meeting
is
February,
the
7th
being
no
other
matters
before
us
got
to
get
a
motion
to
adjourn
the
meeting
all
in
favor
aye.
Thank
you.