Pendleton redevelopment commission passes annual TIF determination; Heritage Hub moves to town council

The Pendleton Redevelopment Commission voted June 11 to approve Resolution 2602, determining whether to capture incremental assessed value for the commission’s five tax allocation areas and concluding that, under Reed Financial Group’s 2027 projections, no assessed-value pass-through to overlapping taxing units is required.

Brady Rogers, a financial consultant with Reed Financial Group, told commissioners the analysis compares projected 2027 revenues with projected expenditures and that the statutory test requires the percentage to stay below 200 percent. "If it's over 200% that's when we have to get into passing on assessed value to the overlapping units," Rogers said. Using the materials provided, he reported Pendleton TIF area at 155 percent, Pendleton expansion at 118 percent, Pendleton Falls Point at 146 percent, the PTA at 103 percent and Serenity with no projected revenues, meaning no pass-through is expected for 2027.

Denise provided an update on the Heritage Hub economic development area, saying the Plan Commission met on June 3 and "unanimously" approved a resolution endorsing the RDC’s May declaratory resolution and the associated economic development plan. She said the Plan Commission found the five-lot area meets Pendleton's zoning and the comprehensive plan designation of regional commercial. Denise said the proposal will be presented to Town Council next week at 6:00 p.m., and that the economic development commission will review bonding and financing on July 6, with a confirmatory resolution tentatively scheduled for the RDC on August 6.

Chair opened the floor for a motion after the presentation. A motion to pass Resolution 2602 was made and seconded; the commission voted in favor and the resolution passed. The chair said signed letters to overlapping taxing units and the Gateway filing will be completed to meet the June 15 statutory deadline.

The resolution and supporting exhibits in the RDC packet show the allocation-area breakdowns of projected revenues and planned expenditures, including bond or lease payments, capital expenditures, professional services and parking leases. Rogers said the TIF plan data provided by staff (from "Scott," as noted in the packet) was used to produce the 2027 projections. No public comments were offered during the meeting.

Next steps: staff will upload the signed resolution and the eight required letters to Gateway and send the certified-mail notices to overlapping taxing units. The Town Council will consider the Heritage Hub proposal next week and the economic development commission will review bonding and financing on July 6 before the RDC considers a confirmatory resolution on August 6.