115 PARSONAGE
HUDSON, IN 46747
(260) 587-9500
January 26, 2007
Hudson
Redevelopment Commission
President Sean Walker called the meeting of
the Hudson Redevelopment Commission to order.
Those present were:
Vice-President Gene Hamm, Town Manager Ward
Odom, and Clerk-Treasurer Atta “Tatsy” Hayes, Sean Walker, Gene Hamm, Mark Phillips, and
Brian Hayes
President Sean Walker motioned to approve the
minutes of the January 27, 2006 meeting as read. The main order of business was the election
of officers for the year 2007. Failing
to receive any nominations from the floor, President Walker motioned to keep
the same officers for the following year, Gene Hamm second. Motion unanimously carried.
President: Sean Walker
Vice
President: Gene Hamm
President Sean Walker presented a letter
concerning the standing of the TIF district to the
commission. In reviewing the activities of the immediate past year, the Hudson
Redevelopment Commission undertook only one new activity, the off set of costs
associated with a possible new commercial activity. For this activity, the Commission has
committed to the reimbursement of utility easements, driveway permit
applications, and the drainage on the site over a five (5) year period
beginning the year following the opening.
The annual reimbursement will be $8,000 per year. Additionally, the Commission remains focused
on completion of existing projects.
The western extension of
the water and sewer lines, completed in early 2003, remains a financial
obligation.
These improvements have
had their price. The Commission
currently has a debt of $174,103.24 as of the end of 2006. The existing debt is being repaid from the
Tax Increment Funds (TIF). The end of the year balance in the TIF funds is
$47,710.38. The Tax Increment
Replacement (TIR) funds were approved at a rate of $0.2096, $9,982.01 in
income. These funds should insure the
ability to continue payments on the current.
The board approved the report for the Town Council, Gene Hamm motion, Brian Hayes
second.
Having no further
business, a motion was made by Sean Walker and seconded by Brian
Hayes to adjourn. Motion carried.
Respectfully submitted,
Atta “Tatsy” Hayes
Clerk-Treasurer
Other
Board Minutes
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