Vincennes Redevelopment Commission Ends Year with $1 Million

From the Vincennes Sun-Commercial:

The city’s Redevelopment Commission is ending the year with more than $1 million in the bank, about twice as much as it started the year with.

However, about $700,000 of that total is committed to the Second Street project, should it ever get underway. For now, construction isn’t scheduled to begin until sometime in 2014.

The RDC did fund two small projects associated with the Wabash River levee this year. A small section of the levee falls within the Tax Increment Finance Zone, the vehicle by which the RDC collects a portion of property tax dollars.

Kirk Bouchie and Hunter Pinnell with Vincennes Water Utilities went before the RDC in August armed with a list of projects ranging in cost from $25,000 all the way up to $450,000 that will need to be done for the levee to remain in good standing with the Federal Emergency Management Agency.

RDC members agreed to fund the two least-expensive projects on the list, a pipe repair near the George Rogers Clark Memorial at an estimated cost of $25,000 and some concrete repair at the Perry Street pump station for an estimated $29,200.

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http://suncommercial.com/articles/2012/12/20/news/local_news/doc50d3d03ac569c855186240.txt