City Approves Budget For Redevelopment Commission
July 28, 2016 at 4:25 p.m.
Warsaw redevelopment commissioners approved a $341,418.50 budget Monday for 2002.
Two bond payments are included in the request. One is for a 1991 tax increment financing bond for the downtown area in the amount of $138,017.50.
The second large expenditure is for Medtronic Sofamor-Danek's economic development commission bond repayment of $105,785.
The redevelopment commission budget proposal will come before the city council for final approval.
A portion of Jeff Noffsinger's salary was included in the budget in the amount of $6,316, including benefits and taxes.
Noffsinger, the city planner, also serves as the redevelopment director. He spends approximately five hours per week on redevelopment issues.
The salary transfer would lessen the plan department budget.
Professional services were projected to be $74,000 for the northern TIF district and $5,000 for the general budget.
General costs were increased from $5,900 to $7,300.
The commissioners also set 2002 increment requests of 70 percent for the central redevelopment area and 100 percent of the northern economic development area.
These requests are made to the county auditor and "capture" taxes for use in the respective districts.
In other business, claims were approved with a transfer from the city's allocation fund to the bond and interest budget in the amount of $23,100. The transfer will make an interest payment to Lake City Bank regarding the Warsaw central redevelopment area bond.
An EDC bond payment of $24,260 was approved to Medtronic Sofamor Danek.
Membership dues for the Redevelopment Association of Indiana were approved.
Commissioners are: president Tammy Rockey, Neal Carlson, Charles Smith and Robert Steele. Jerome Kralis was absent.
The next meeting will be Aug. 6 at noon in council chambers at city hall. [[In-content Ad]]
Warsaw redevelopment commissioners approved a $341,418.50 budget Monday for 2002.
Two bond payments are included in the request. One is for a 1991 tax increment financing bond for the downtown area in the amount of $138,017.50.
The second large expenditure is for Medtronic Sofamor-Danek's economic development commission bond repayment of $105,785.
The redevelopment commission budget proposal will come before the city council for final approval.
A portion of Jeff Noffsinger's salary was included in the budget in the amount of $6,316, including benefits and taxes.
Noffsinger, the city planner, also serves as the redevelopment director. He spends approximately five hours per week on redevelopment issues.
The salary transfer would lessen the plan department budget.
Professional services were projected to be $74,000 for the northern TIF district and $5,000 for the general budget.
General costs were increased from $5,900 to $7,300.
The commissioners also set 2002 increment requests of 70 percent for the central redevelopment area and 100 percent of the northern economic development area.
These requests are made to the county auditor and "capture" taxes for use in the respective districts.
In other business, claims were approved with a transfer from the city's allocation fund to the bond and interest budget in the amount of $23,100. The transfer will make an interest payment to Lake City Bank regarding the Warsaw central redevelopment area bond.
An EDC bond payment of $24,260 was approved to Medtronic Sofamor Danek.
Membership dues for the Redevelopment Association of Indiana were approved.
Commissioners are: president Tammy Rockey, Neal Carlson, Charles Smith and Robert Steele. Jerome Kralis was absent.
The next meeting will be Aug. 6 at noon in council chambers at city hall. [[In-content Ad]]