Summary- Churubusco EDC Meeting- 2/19/2025

SUMMARY
CHURUBUSCO EDC MEETING
FEBRUARY 19, 2025
(NOT OFFICIAL MINUTES)
The Churubusco Economic Development Commission met on Wednesday, February 20, 2025 at 5:00 pm at the Churubusco Town Hall. The meeting discussed the approval of $1.1 million in non-recourse bonds for a residential project in Churubusco, Indiana. The project, expected to create 200 temporary jobs, will be financed by the Indiana Financing Authority at a 2.86% interest rate. The developer, Kevin Biggs, plans to build 100 homes with prices starting at $325,000. Concerns were raised about potential tax increases, traffic congestion, and school capacity. Despite these concerns, the commission approved the resolution, noting the project’s potential to increase the property tax base and support local businesses.
Election of Officers and Initial Discussions
• The town attorney, Andy Boxberger, called the meeting to order. Clerk-Treasurer, Madalyn Sade-Bartl, called roll. Member Miles Wilson was absent.
• Nominations for officers were opened. Officers are elected: Ashley Wagner as secretary, Devin Keener as president, and Miles Wilson as vice president.
• Mr. Boxberger discussed the role of the Economic Development Commission, the purpose of the meeting, and the need for officers to sign documents.
Introduction of the Residential Project
• Mr. Boxberger introduced the developer, Kevin Biggs, and explained the new program by the Indiana Financing Authority (IFA) to finance infrastructure for residential projects.
• The developer is working with the IFA to issue bonds with a significantly lower interest rate of 2.86%.
• The town’s role is to assist in issuing the bonds, but the town has no responsibility for the loans once issued.
• The project involves $1.1 million in bonds to finance infrastructure at Turtle Meadows for a residential project.
Approval of the Report and Public Hearing
• Mr. Boxberger presented a report stating the Economic Development Commission is considering financing for the infrastructure project.
• The project is expected to create 200 temporary construction jobs with an average hourly wage of $20 to $75.
• A motion was made by Devin Keener and seconded by Ashley Wagner to accept the report, which was approved by the commission.
• Mr. Boxberger opened the public hearing for comments and questions on the bonds.
Public Comments and Concerns
• Town resident, Alisha Hackett, expressed concerns about the potential increase in taxes and the impact on the small-town character of Churubusco.
• Kevin Rothgeb, president of the Churubusco Chamber of Commerce, voiced the Chamber’s support of the project, citing the need for housing and the benefits to the community.
• Area resident, Mel Egolf, raised concerns about the town’s financial responsibility and the potential for future tax abatements.
• Area resident, Kayla Crance stated she saw the need for housing but expressed concerns with the potential issues of traffic and school capacity.
• Area resident, Lea Ann Herron, stated there is very little on the market in the 46723 zip code and there is a large need for housing to assist with aging in place.
• Mr. Boxberger closed the public hearing.
Developer’s Response and Resolution Approval
• Kevan Biggs, the developer, responded to questions about the project’s affordability and traffic management.
• The developer explained the design and engineering considerations to address traffic and other concerns.
• Mr. Boxberger presented a resolution for the commission to approve the issuance of $1.1 million in non-recourse bonds.
• A motion was made by Mr. Keener and seconded by Ms. Wagner to approve the resolution, which was passed by the commission.
Approval of Meeting Minutes and Adjournment
• Mr. Boxberger explained the need for approved bond minutes for the bond closing process.
• Ms. Bartl prepared minutes for the Commission’s review.
• A motion was made by Mr. Keener and seconded by Ms. Wagner to approve the minutes from the meeting, which was passed.
• The meeting was adjourned by Mr. Boxberger.