Bedford Redevelopment Commission Allocates TIF Funds For Three Projects

(BEDFORD) – The Bedford Redevelopment Commission identified 10 possible projects where TIF funds in the amount of $689,500 could possibly be spent.

Those 10 were then narrowed down to four projects identified as the most important:

  • Splash Pad at Thornton Park
  • Bedford City Utilities Sewer/Storm Water Projects
  • Downtown Facade Projects
  • Provide matching funds to Radius of Indiana for Rails to Trails Program.

After a lengthy discussion, the commission voted:

  • To allocate $150,000 towards the Rails/Trails grant application. The City of New Albany will commit $200,000, and Radius of Indiana will commit $300,000 towards the grant application.
  • To allocate $150,000 towards the Downtown Facade Project. During the Stellar Project funding only allowed for 12 businesses to participate in the Facade Project but 30 downtown businesses expressed interest in the project.
  • To allocate the remaining $389,500 to the City of Bedford Utilities Project
  • Facade Project-  $150,000 for Downtown Businesses to work on facades. During the Stellar Project funding only allowed 12 businesses to participate in the Facade Project.  30 of the Downtown Businesses have expressed interest in the project.
  • Bedford Utilities – $389,500 will be allocated to Bedford Utilities for Stormwater/Sewer projects.

The vote was 4-1 on these projects. Judy Carlisle was the only Commissioner member to vote against the proposal. In the discussion over the four projects, she felt it was more beneficial to all city taxpayers if they allocate the whole $689,500 to Bedford Utilities.

Carlisle also suggested they wait until the first of the year for the new Commission members to decide where the $689,500 should be allocated.

In other business, the commission voted to pay Crowe $5,571,91 for their services relating to the connection and preparation of the Tax Increment report that was completed a couple of months ago.

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