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Summary of Annual Reporting Requirements Applicable to Redevelopment Commissions

Prior to April 1 – Fiscal Officer Report

Pursuant to Indiana Code 36-7-14-13, prior to April 1 of each year the Fiscal Officer of the unit establishing the Redevelopment Commission (i.e., Clerk-Treasurer (towns and 3rd class cities), Controller (first and second class cities), County Auditor (counties)) is required to report to the Redevelopment Commission the financial status of the Redevelopment Commission.

Not Later than April 15 – Report of Activities to Fiscal/Executive Body

Pursuant to Indiana Code 36-7-14-13, not later than April 15 of each year the Redevelopment Commission or its designee shall file with the unit’s executive (i.e., Town Council President (towns), Mayor (cities), Commissioners (counties)) and fiscal body (i.e., Town Council (towns), Common Council (cities), County Council (counties), a report setting out the activities of the Redevelopment Commission for the preceding calendar year including information such as:  (i) names of Redevelopment Commission members; (ii) officers of the Redevelopment Commission; (iii) number of employees & salary information; (iv) description of prior year expenditures; (v) TIF revenues used for grants & loans; (vi) year ending fund balances; and (vii) allocation area detail (as more particularly set forth in the statute).

This report must also be submitted to the Department of Local Government Finance via its Gateway System.

Prior to June 15 – Determination of Excess Assessed Value, if any

Pursuant to Indiana Code 36-7-14-39, prior to June 15 of each year the Redevelopment Commission must determine whether there is excess assessed value which may be passed through  to the overlapping tax units after taking into account the amount needed to pay debt service/lease rentals on the Redevelopment Commission’s obligations and meet its other requirements under Indiana Code 36-7-14-39.  The Redevelopment Commission must report its determination to the County Auditor, the fiscal body of the unit establishing the Redevelopment Commission, the fiscal officers of the overlapping taxing units and the Department of Local Government Finance.  The report must state the amount, if any, of excess assessed value that will be passed through or state that no value is available to be passed through.

Prior to July 1 – Presentation for Overlapping Taxing Units

Pursuant to Indiana Code 36-7-25-8, prior to July 1 of each year the Redevelopment Commission must provide a presentation at a meeting of the Redevelopment Commission and shall invite to such presentation the governing bodies of the taxing units which have territory within an allocation area of the Redevelopment Commission.  The presentation must include the following information:  (i) the Redevelopment Commission’s budget with respect to the allocated property tax proceeds; (ii) long term plans for the allocation area; and (iii) the impact on each of the taxing units.

For more information on this topic, please contact:

Dennis Otten at 317.684.5154 or dotten@boselaw.com; or

Jacob McClellan at 317.684.5154 or jmcclellan@boselaw.com