Fri January 6, 2012
Funds in a WL TIF District account nearly depleted
A short-term loan might be needed to help a West Lafayette tax increment finance (TIF) district meet its obligations.
The Sagamore TIF has roughly $15,000 after a payment was made for the Yeager Road construction.
Redevelopment Commission President Larry Oates says that’s not enough to pay future bills. He says the commission will decide on borrowing from another TIF later this month, until the county distributes tax collections.
Tippecanoe County Auditor Jennifer Weston says disbursements should be done by the end of next week, meaning a loan probably won’t be necessary.
The West Lafayette Redevelopment Commission is expected to meet again January, 17.