Monroe County Redevelopment Commission
Commission under the jurisdiction of the Monroe County Commissioners that oversees the Tax Increment Financing (TIF) districts of the county. Property tax money that is collected in the district is required to spent in the district. There are three TIF districts in the unincorporated part of Monroe County. One such district was created in the North Park area, along the first mile of new Highway 46 and on the west side of Highway 37 from Vernal Pike to Acuff Road. Another (the Richland TIF District) is is bordered on the south by Highway 48, on the east by Gates Drive, on the west by Hartstrait Road, and on the north by Vernal Pike. The third is the Fullerton Pike TIF District, which was created to finance a connection between Fullerton Pike and Gordon Pike, creating a new east-west corridor from Walnut Street to SR 37. I
In April of 2007, the commission approved the county borrowing $5 million to build a new life-sciences training center at Ivy Tech. But the commission later rejected five construction bids after finding the lowest bid was $600,000 higher than the expected cost. The Indiana Center for the Life Sciences project was later completed and opened in 2009.
In June of 2007 the commission loaned more than $1 million from the Richland Township TIF fund to the county, after it was discovered that the Monroe County Auditor's office failed to include an appropriation for a bond payment in the January budget.