The Seymour Redevelopment Commission plans to distribute up to 3% of its revenue to fund projects that improve the quality of life in the community.
That amount is in addition to the board’s commitment to invest in the city’s infrastructure, downtown and economic development and education initiatives.
The commission’s funding comes from tax increment finance revenue generated from the Burkart Tax Allocation area, which consists of the Eastside Industrial Park and Cummins Seymour Engine Plant.
During a meeting Monday, commissioners voted 4-1 to approve the not to exceed 3% amount and to review funding applications from outside organizations twice a year in January and July. The board receives its tax distribution settlements in December and June.
Commissioner Bonnye Good said it would be easier to see how much money is available at those times. Funding requests can be submitted any time.
For 2021, the commission’s revenue is projected to be roughly $5 million, which would amount to $150,000 available for quality of life projects.
Board President Mark Dennis said historically, the expectation of the commission has always been to save some money back for the opportunity to provide incentives for big projects. He doesn’t see that policy changing at this time.
Commissioner John Reinhart said he doesn’t think the board should set an amount.
“I think we just have to look at the request and see what’s reasonable and where we’re at,” he said.
Commissioner Nate Tormoehlen cast the only dissenting vote, saying he would like to see the recommendation spelled out better in writing so the board gets it right the first time.
“I don’t want people showing up just because they think there is X amount of money,” he said. “It needs to fit the overall goals of the redevelopment commission. It can’t just be that there is money available so it’s given away.”
He also had concerns if the board limits the requests to two specific times a year, it could prevent some projects from moving forward due to time-sensitive deadlines.
Case in point is Child Care Network’s new child care center, which the commission contributed $50,000 toward. That support, along with contributions from other organizations, helped the project land a $1.8 million grant from the Lilly Endowment.
“I think the bottom line is we have the opportunity to do whatever we want to do, so whatever the terms of condition is, it’s not going to be necessarily cast in stone,” Dennis said. “We want to have something to fall back on, though, when people come to us and say, ‘Will you fund it?'”
Commissioner Nate Otte said the grant request committee could review applications twice a year, and exceptions outside of that time frame could be brought before the entire commission for a vote.
The commission has spent months trying to finalize and streamline its process for outside funding requests.
One organization that requested funds a year ago and is still waiting on a decision is the Seymour Museum Center.
In February 2020, museum President Lenny Hauersperger requested $40,671 for a new HVAC system for the museum building at 220 N. Chestnut St. That request is still under review by the redevelopment commission.