Clarksville Redevelopment Commission Meeting Summary - June 23, 2026

The Clarksville Redevelopment Commission met on June 23, 2026 (meeting record timestamp 2026-06-23 12:15:00+00:00). The agenda and written minutes were not provided in the source materials; the following is reconstructed from the meeting transcript. The meeting included approval of prior minutes, the annual TIF presentation, project updates, and several redevelopment actions.

Consent Calendar

• Approved the May 26, 2026 meeting minutes, with an amendment showing April Hammer absent.

Public Comments & Testimony

• No members of the public came forward to speak on the advertised public hearing item; the commission noted that no remonstrances were received.
• The annual TIF presentation was advertised to overlapping taxing units, and no comments from those units are recorded in the transcript.

Annual TIF Presentation

• Sam Schrader of Baker Tilly presented the annual tax increment financing (TIF) update, satisfying statutory requirements. He explained that base assessed value continues to support the town and all overlapping taxing units, while only incremental assessed value is captured as TIF revenue.
• The legacy Clarksville Commercial allocation area is the largest revenue source: about $9.5 million was collected in 2025, about $9.6 million is estimated for 2026, and revenue is projected to decline to about $8.9 million by 2031 as Senate Enrolled Act 1 (2025) property-tax deductions phase in. Established in 1990, the area and its expansions expire between 2038 and 2049.
• Existing legacy obligations have roughly 140% net service coverage, but capacity for additional large projects from that area is limited.
• Other TIF areas: the current 8/12 area is estimated at about $650,000 in 2026, with a $459,000 minimum taxpayer payment; South Clarksville #2 (the George) is estimated at $740,000 at full build-out in 2030 versus about $325,000 in annual debt service, leaving more than $400,000 per year for other South Clarksville needs; Central Clarksville is estimated at about $830,000 in 2026, with 80% pledged and a $600,000 minimum taxpayer payment; the Gateway allocation area has no expiration date and only a slight capture estimated for 2026.
• Schrader explained that TIF does not take existing revenue from overlapping units if the 'but-for' test is satisfied; without TIF, the development generally would not occur. Ending TIF would put downward pressure on tax rates rather than produce a windfall for other units.
• Asked for the combined impact of Senate Enrolled Act 1 across all TIF areas, Schrader did not have the figure at hand but said it is embedded in the estimates.

Maine & Clark Financing Discussion

• Baker Tilly and staff presented the financing plan for the proposed Maine & Clark mixed-use project: a $21 million, 85,000-square-foot building with 11 commercial suites and 69 residential units. The project would be located at Watertower Square near the intersection of Main Street and South Clark Boulevard. The developer requested $3.8 million in net proceeds; after reserve, placement, and issuance costs, the estimated bond size is $4.34 million.
• The proposed bond structure is a 25-year private placement with an estimated annual payment of about $345,000, based on an assumed 6.25% interest rate.
• Staff recommended pledging South Clarksville Allocation Area No. 1 (the 8/12 TIF), which has assessment history and has not yet been obligated to an existing bond or project, rather than the Maine & Clark project TIF. This approach provides sufficient coverage, preserves the Maine & Clark TIF for future use, and strengthens bond security.
• If only the Maine & Clark TIF were pledged, annual revenue of about $300,000 would fall short of $340,000-$350,000 in annual debt service, and there would be no revenue from 2026 through 2030 until the project is assessed. Delaying the pledge could increase 25-year revenue from about $6.3 million to about $7.5 million.
• During discussion, a commissioner noted the site is not fully vacant because a building there must be removed for the new access road; staff clarified that the Maine & Clark structure would stop before that building.
• Commissioners asked about the gap between bond costs and project-generated property tax revenue and about minimum taxpayer protections. Staff said minimum tax payment and annual escalator terms have not been agreed to and would be negotiated; several prior projects have assessed higher than originally estimated.
• The presentation showed that post-SEA 1 revenue would include a larger share of local income tax revenue controlled by the town. Assumptions included 67 new housing units, 60% of households being new to the county/Clarksville, and average household income of about $80,000.
• Staff described the pledge vote as the first step in a larger process; future steps include Economic Development Commission review, Town Council action, and negotiation of project and financing agreements.

Project Updates

• Josh Darby (Prime AE) reported: Main Street reconstruction awaits the flapgate structure; the Old Potters Lane drainage issue will be resolved with an additional inlet at contractor expense; the Shields Access Road and Block 5 detention basin are progressing, with the basin complete, storm sewer starting, earthwork expected by the end of the week, and curbs/road work after July 4.
• South Clark Boulevard: final plans have been received for placing overhead electric lines underground; easement and right-of-way discussions with Clockworks developers continue; estimating and bidding will follow.
• George project: the contractor has completed punch-list work. The RDC approved extending the South Clarksville BOT #2 closing/transfer date from June 30, 2026 to December 31, 2027 because of the George project schedule and to avoid damaging completed sidewalks; the price is unchanged and retainage remains in place.
• Dave Greenwood (Verdis Group) reported George construction progress: masonry stem walls, transformer enclosure, two of three elevator pits, the southwest stairwell, and the beginning of underground MEP work.
• Riverside Drive: the Main and Riverside intersection was reopened to traffic; final paving and sidewalks await fabrication and installation of the flapgate box, with design/approval still pending. Gravel has been laid to provide an ADA-compliant pedestrian path.

Public Safety TIF Spending Process

• During discussion of the commercial economic development area amendment, public safety leadership described how TIF-funded requests would work: departments would bring capital/purchase requests with cost details to the RDC for approval, and the RDC would track spending and set its own caps.
• Staff recommended that department requests be brought by July so the 2027 budget can be assembled by August/September, and advised that funds need not be split evenly between departments.

Staff Reports

• Staff reported that county tax deposits are expected this week or next and are up 8% compared with June of last year. Debt payments to bondholders due July 1 total just over $2.7 million, and the town is expected to remain in the black and on budget after those payments.
• A parks update on tournaments and the Gateway Bible League facility was deferred to next month's meeting.

Key Outcomes

• Approved the May 26, 2026 minutes as amended.
• Approved Resolution 2026 R-08, amending the Clarksville Commercial Economic Development Area plan to allow TIF funds for public safety items other than salaries and benefits. The transcript notes prior Plan Commission approval and a 7-0 Town Council vote, with no public remonstrances.
• Approved the professional services agreement with RW Moore Consulting Engineers.
• Approved Resolution 2026 R-09, pledging South Clarksville Allocation Area No. 1 TIF revenue to advance the Maine & Clark project financing process.
• Approved the Maine & Clark letter of intent as the basis for project negotiations.
• Approved the BOT #2 amendment extending the South Clarksville Street Grid phase two closing/transfer date to December 31, 2027.
• Voted to recommend approval of Club Greyhound's three-way liquor license application to the Town Council and the Indiana Alcohol and Tobacco Commission. Applicant Craig Ruprecht described Club Greyhound as a 1930s-inspired cocktail bar and vinyl listening lounge in the 8/12 building that would close at midnight.
• Approved the town's bills.
• Next steps: negotiate project and financing agreements for Maine & Clark, obtain the combined SEA 1 impact figure from Baker Tilly, and receive the deferred parks update at next month's meeting.