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New:  Don’t Miss Redevelopment Commission 2019 Reporting Deadlines

By Matt Eckerle, Principal, February 21, 2019

Redevelopment Commissions must meet several reporting deadlines during the 2019 calendar year. It is important to adhere to these requirements as the Department of Local Government Finance (DLGF) tracks compliance, and failure to meet the excess notification and neutralization deadlines can jeopardize your ability to capture incremental assessed value.  Below is an outline of filing and deadline requirements for 2019.   To see more detail click here: Download More Information

April 1: Annual Report of the Redevelopment Commission Treasurer on the Financial Status — The treasurer of the Redevelopment Commission, which is the fiscal officer of the unit, is required to report the Commission’s financial status to the Commission.

April 15: Previous Year’s Activities of the Commission and of Each Allocation Area: the TIF Management Report — Redevelopment Commissions must report the previous year’s activities by the Commission to the fiscal body of the unit, the executive of the unit and to the DLGF through the Gateway system.

June 15: Upcoming Excess AV Pass-Through — Written notice must be provided to the unit’s fiscal body, the overlapping taxing units, the County Auditor and the DLGF stating the amount of excess incremental assessed value, if any, that will be passed through to overlapping taxing units from each allocation area.

Before August 1: Neutralization of Base AVs for the Upcoming Year — The County Auditor must complete a DLGF form to neutralize the effects of reassessment or trending of real property in each allocation area of the county.

Annually: Meeting of the Redevelopment Commission with Overlapping Taxing Units – Redevelopment Commissions must hold an annual meeting to which representatives of the taxing units that overlap with that Commission’s allocation areas are invited. The Commission must present certain information items related to each allocation area during that meeting.

If you have questions or need assistance with TIF timing and reporting requests, please let me know at .(JavaScript must be enabled to view this email address).

 

Information in this article was believed current as of the date of publication. As you know, changes occur frequently. The information presented is of a general educational nature. Before applying to your specific circumstances, please contact us at vision@umbaugh.com.


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