Old Farm Reserve development and TIF bonds
Summary
A $130 million project on land that's sat vacant for over a decade: 163 houses, 240 apartments and 30 acres of commercial near University Parkway. About $14 million in public incentives, but the developer buys its own bonds so taxpayers aren't on the hook.
At a glance
- Total mentions
- 4
- Last 30 days
- 0
Last discussed Aug 12, 2026.
Impact analysis
About $14 million in public incentives, none of it a taxpayer obligation.
West side residents get new housing, apartments and commercial options near University Parkway.
No one identified in the record — no remonstrators appeared at the public hearing.
Mentions & discussions (4)
County Council Meeting/2027 Budget Hearings (Day 1) - Aug 12, 2026
A $130-150 million mixed-use development near University Parkway — 240 apartments, about 70 acres of homes, and commercial lots — gets bond support through the county's TIF district. It's the first development on the Parkway and could anchor future growth north toward I-64.
Vanderburgh County Economic Development Commission - Jul 15, 2026
A 110-acre mixed-use development west of University Parkway — 163 homes, 240 apartments, and 30 acres of commercial — needs roughly $10.5 million in infrastructure help. The county would issue TIF-backed revenue bonds, but the developer buys them and they're non-recourse, so county taxpayers aren't on the hook if the project fails. The new development's tax revenue pays the bonds back, and there's no tax abatement.
Board of County Commissioners (No Drainage Board) - May 26, 2026
A $130 million project on land that's sat vacant for over a decade: 163 houses, 240 apartments and 30 acres of commercial near University Parkway. About $14 million in public incentives, but the developer buys its own bonds so taxpayers aren't on the hook.
City Council Meeting - Jan 12, 2026
The council was asked to consent to the county redevelopment commission issuing tax increment revenue refunding bonds — refinancing that affects how TIF tax dollars flow in redevelopment districts.
Related development
Old Farm Reserve Development
This is expected to be the first significant tax revenue producer in a TIF area that's sat mostly empty for 20 years, bringing houses, apartments, and commercial space — plus new roads and infrastructure built to county specs — to the west side near USI.
Old Farm Reserve Bond Ordinance
No county credit or taxpayer exposure — developers repay the bonds from project TIF revenue.
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