Zionsville Redevelopment Commission (ZRDC)

ZIONSVILLE REDEVELOPMENT COMMISSION REGULAR MEETING MEMORANDA FOR Tuesday, May 28, 2019 at 6:30pm Zionsville Town Hall-Council Chambers 1100 West Oak Street Members Present: Wade Achenbach, President, Sanjay Patel, Vice-President, Kent Esra, Secretary, Cassie Lee, and Ben Worrell. Also Present: Wayne DeLong, AICP, Director of Planning & Economic Development, Mark Adam (Crowe, LLP), Rebecca Zakowski (Crowe, LLP), and Bruce Donaldson, Counsel to the RDC. A. Opening a. Call meeting to order-Wade Achenbach called the meeting to order at 6:30pm. B. Consideration of Memorandum a. The Commission deferred the review and consideration of the April 2019 Memorandum, to the June 24, 2019 meeting. C. Reports a. TIF Report (available for review). Wayne DeLong reviewed the May 2019 TIF Report. D. Old Business (none) E. New Business a. 2019 Tax Increment Finance Report – discussion: Year 2020 Tax Increment Finance District Allocations. Wade Achenbach introduced the matter and Rebecca Zakowski of Crowe. It was indicated that based on an annual report titled Excess Tax Increment Finance (TIF) Analysis (dated May 14, 2019), letters would be prepared and sent to overlapping Taxing Districts, Town Council members, Department of Local Government Finance, and the Boone County Auditor, indicating and notifying these parties, that, for 2020, no assessed value would be passed back to the overlapping Taxing Districts. It was shared that the Report contain an analysis showing TIF coverage of bonds payable from each of the allocation areas. Wayne DeLong indicated that the Report would be redistributed and as well shared with other interested parties. Further, the Commission was reminded that in September, it would have the opportunity to speak to the overlapping Taxing Districts and Town Council members at that forthcoming meeting. At the conclusion of the presentation, Bruce Donaldson recommended that the Commission take a vote, authorizing the Commission to capture all of the assessed value from all of the taxing units, and authorize the President of the Commission to sign letter addressed to the taxing units indicating the same. Motion: Kent Esra made a motion (seconded by Sanjay Patel), authorizing that the 2020 Tax Increment Allocations (as presented) be approved (with Wade Achenbach affirming that the motion assigned  authority to the President to sign the letters as prepared by Crowe as available that evening). The motion was unanimously approved by the Commission. F. Other Business (none) H Adjourn (6:36pm) Respectfully Submitted, Kent Esra, Secretary The next meeting of the Redevelopment Commission is scheduled for June 24, 2019 at 6:30pm.