Vanderburgh County Redevelopment Commission Meeting Summary - May 13, 2026
Vanderburgh County Redevelopment Commission Meeting - May 13, 2026
The Vanderburgh County Redevelopment Commission met on May 13, 2026, at 1:00 PM in Room 307 of the Civic Center Complex. Four members were present (Jeff Hatfield, Hobart Scales, Bill Nix, Dave Clark); Logan Bitter was absent. The meeting covered officer elections, financial updates, and approval of an economic development agreement for a major project.
Consent Calendar
- Election of Officers: Bill Nix was unanimously elected President, Hobart Scales as Vice President, and Dave Clark as Secretary.
- Approval of Minutes: The meeting memorandum from December 10, 2025 was unanimously approved.
Discussion Items
- Annual TIF Update and Revenue Analysis (Robert Reynolds, LWG CPAs): Reynolds presented cash flow projections for five Economic Development Areas (EDAs). He highlighted that Senate Enrolled Act 1 will reduce net assessed values for apartments and agricultural land through phased‑in deductions, lowering TIF revenues. The Burkhardt Road EDA could see a worst‑case revenue loss of approximately $765,000 by 2030, but the district has sufficient balances and ongoing growth to cover obligations. The original allocation area expires in 2031; Reynolds conservatively assumed 2030 as the final collection year due to uncertainty in state statute. Other EDAs (Phoenix Commerce Center, U.S. 41/Azteca, University Parkway, St. Joseph Avenue Industrial) showed minimal SEA 1 impact. University Parkway has about $510,000 still owed to the General Fund from prior bond shortfalls, projected to be repaid by 2028. Commissioner Bill Nix requested maps of the TIF districts.
- Pass‑Through Letters and Resolution No. 2026‑VCRC‑01: Attorney Craig Emig explained that by June 15 the Commission must notify concurrent taxing units whether it will share excess captured assessed value. The letters state there is no excess value to pass through. A new law requires these letters; otherwise a default 5% would be automatically shared. The resolution officially confirms the determination. Both the letters and resolution were unanimously approved.
- Economic Development Agreement – Flats at Old Farm: Attorney Mike Schopmeyer presented an agreement with Parkway Improvements, LLC to reimburse fees and legal costs for the Flats at Old Farm development on University Parkway. The project has been awarded approximately $5 million in READI 2.0 funding. The development will likely be financed through a TIF bond; no tax abatement is expected because the developer may purchase the bonds. Schopmeyer noted that the only pledged revenue is TIF revenue from the project itself, so the county bears no risk if the project fails. Commissioner Jeff Hatfield reiterated the Commission’s role is to evaluate financial viability, while policy decisions rest with elected officials. The agreement was unanimously approved.
- New Business: Vice President Hobart Scales inquired about a proposed large distribution warehouse on Petersburg Road near U.S. 41; members indicated they had no information suggesting it would involve the Commission.
- Old Business: Scales asked about bond refinancing discussed in December 2025. Robert Reynolds confirmed the bonds were refinanced and closed in February 2026.
Key Outcomes
- Unanimous election of officers for the coming year.
- Unanimous approval of December 10, 2025 meeting minutes.
- Unanimous approval of pass‑through letters (no excess revenue shared).
- Unanimous adoption of Resolution 2026‑VCRC‑01 regarding 2027 budget year TIF determinations.
- Unanimous approval of the Economic Development Agreement with Parkway Improvements, LLC.
- Confirmed completion of bond refinancing in February 2026.
- Meeting adjourned at 1:56 PM.
Meeting Transcript
Okay, I'm going to call the Vandenberg County Redevelopment Commission meeting of May 13, 2026 to order. If we could stand for a pledge of allegiance. Okay, I'm going to call it Venezuela County Redevelopment Commission meeting about May 13, 23. I pledge of allegiance to the flag of the United States of America. And to the Republic. Okay, the roll call would be by Craig. You do normally do that. Okay. Commissioner Happy. Here. Commissioner Nicks. Here. Commissioner Scales. Here. Commissioner Clark. Here. And Commissioner Pitter. Showed him as absent. There being four in attendance, one absent, we have a four of them. Okay, our first order of our uh duty is to elect officers. And I've been is this group here in its second year or third year? Do you know? Second for most. Second year. Okay, well, anyway, I've very much enjoyed being in charge of the meetings, but I do know all the members, and I do believe that we all uh respect each other and work well together. And I just firmly believe that the other people should be president. I don't think one person should be president every year. So and I've talked to Hobart about it, and I've I've sent Craig an email. So I don't want to be president because I believe someone else should get an opportunity. And so I'd like to open that up for discussion. Well, certainly uh, like you said, we we spoke earlier and um uh uh relayed my uh my gratitude to you and watching over the last year how you handled yourself and and helped me kind of better understand and kind of walk me through learning this body and how these proceedings go. Um I I don't uh I uh called you with the full intention just for transparency's sake of of gauging uh Jeff on whether or not he would stay on as president because I think he's done a fine job and was kind of hoping he would say yes, but fully understand his rationale and reasoning for uh wanting to move on quite honestly, Bill. I think that you would make a fine president, and I was kind of hoping that with Jeff uh stepping down that you uh would have some interest in filling those shoes and giving me at least another year to marinade and to take it in and um you have any thoughts on that regard. I'm fine. Okay, that's your cue. I would I would uh I would move to nominate uh Mr. Bill Nix as our next president. Second, all those in favor say aye. Aye. All those opposed. You are a president of our right. So you go with the president, I'd like to nominate Hobart Scales as our vice president. Second, all those in favor, I think. All those in favor. I posed. I said the next item on the agenda is the number five, approval to December 10th, 2025 meeting memorandum. Commissioners, do we need to elect a secretary? That's a position to an officer. Uh last year, last year Commissioner Kenny served in this role. Wayne Kenney was secretary last year.
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