Old Farm Reserve development on University Parkway
Summary
New TIF allocation areas over the 110-acre Old Farm site clear the way for up to $10.5 million in developer-purchased bonds — the county carries no repayment risk if the project fails.
At a glance
- Total mentions
- 7
- Last 30 days
- 0
Last discussed Aug 12, 2026.
Impact analysis
TIF capture limited to taxes generated by the 110-acre site for 25 years; county assumes no bond repayment risk.
The Old Farm developer and future residents of the project, plus the county tax base if it succeeds.
If sidewalks are waived, future residents and neighbors lose pedestrian connectivity.
Mentions & discussions (7)
County Council Meeting/2027 Budget Hearings (Day 1) - Aug 12, 2026
Developers presented plans for a massive 110-acre residential and commercial project off University Parkway, featuring 240 apartments and single-family homes. The council advanced a bond ordinance to support the infrastructure.
Board of County Commissioners & Drainage Board - Aug 10, 2026
New TIF allocation areas over the 110-acre Old Farm site clear the way for up to $10.5 million in developer-purchased bonds — the county carries no repayment risk if the project fails.
Vanderburgh County Redevelopment Commission - Jul 15, 2026
A 110-acre development on University Parkway will be financed with bonds the developer buys itself, repaid only from the project's own TIF revenue — no county general funds at risk. The County Council still has to approve the bond ordinance this August.
Vanderburgh County Economic Development Commission - Jul 15, 2026
Board members asked about traffic at the USI interchange and how the development's entrance will connect to University Parkway. The road has been turned over to the county, and the main entrance will use a J-turn — no stoplights — approved by the relevant authorities.
Vanderburgh County Council Meeting - Jun 3, 2026
A $130 million project near USI is expected to bring about 400 housing units, a hotel, and retail, helped by a $4 million READI grant. It also should generate TIF revenue to pay back water and sewer lines the county has been covering from the general fund.
Board of County Commissioners (No Drainage Board) - May 26, 2026
A resolution was on the agenda to approve a development agreement MOU with Parkway Improvements, LLC related to the Old Farm Reserve development. The terms were not detailed in the published materials.
Area Plan Commission - Mar 5, 2026
S&B Development Group proposes a 28-lot residential subdivision at 651 E Volkman Rd, asking to skip sidewalks and adjust a cul-de-sac radius. New homes — but the sidewalk waiver sets a precedent for how walkable the area will be.
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.
Eagle Point Subdivision
County now maintains those streets, so residents get public road upkeep.
Old Farm Reserve Bond Ordinance
No county credit or taxpayer exposure — developers repay the bonds from project TIF revenue.
University Parkway EDA Allocation Area Amendments (Old Farm Project)
Sets up the financing for a major housing-led development; property tax capture limited to the site itself, risk on the developer.
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