TIF revenue and No Pass Through decision
Summary
The commission finally got its TIF disbursement, so there's actual money to work with again after months of just covering bond interest. Members are eyeing the wish list — including possibly paying cash for the Southview Drive park down the road.
At a glance
- Total mentions
- 7
- Last 30 days
- 1
Discussed at 2 meetings in the last 60 days; most recently Oct 14, 2026.
Impact analysis
Balances rose to about $304,208 and $579,262 in the TIF funds after the first disbursement.
Residents benefit as the RDC regains funds for community improvement projects.
Taxing units — including the school corporation, county, and city — forgo the incremental property tax while the TIF remains in place.
Mentions & discussions (7)
Redevelopment Commission - Oct 14, 2026
The commission was scheduled to hear financial reports on its tax-increment-financing funds and general obligation bonds. These TIF balances show how much redevelopment money the city has on hand for improvement projects.
Redevelopment Commission - Sep 9, 2026
Mayor Costin and city attorney Joe Gaunt discussed creating new TIF districts, which set aside the growth in property tax revenue within a district to reinvest in that area. New districts could shape how growth areas are funded for years.
Redevelopment Commission - Aug 12, 2026
Discussion continued from July about adding new properties to the TIF district; no action was taken in August.
Redevelopment Commission - Jul 8, 2026
The commission finally got its TIF disbursement, so there's actual money to work with again after months of just covering bond interest. Members are eyeing the wish list — including possibly paying cash for the Southview Drive park down the road.
Redevelopment Commission - May 13, 2026
The commission reviewed the annual report on Martinsville Consolidated TIF #1, which shows about $76 million of assessed value captured from other taxing units. Members voted to keep that revenue — "No Pass Through" — meaning schools, the county, and the city won't get that property tax back, though the TIF funds are slated for infrastructure like sewers, roads, and sidewalks.
Redevelopment Commission - Apr 8, 2026
Monthly financial reports on the city's tax-increment financing (TIF) districts and GO Bond funds were scheduled for review. These reports show how redevelopment dollars are being collected and spent.
Redevelopment Commission - Mar 11, 2026
The commission's 2025 Annual Report shows over $9 million in spending — the Entertainment Theatre is done and opened, downtown parking got new pavement, sidewalks went in across the city, and land was bought for a future south-side park with a skate park and trails. The 2022 bonds were paid off, though $12.17 million is still owed on the 2021 bonds through 2046.
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