Lawrenceburg officials ask bond bank to review loan to fund West Harrison water work for potential $250M plant

Mayor Millan opened a joint meeting with the bond bank team to discuss a county-led project in the West Harrison area that he said could be “a $250,000,000 project” expected to create about 160 jobs. He told council the county has asked for municipal-sourced loan support to address water needs for the prospective facility.

"I think it's potentially $250,000,000 project," Mayor Millan said, describing the size of the development and the water-infrastructure need. Council members and bond-bank staff discussed loan figures that were presented in varying versions — an initial $3,000,000 request, subsequent references to $4,000,000 and $4,300,000, and others citing $4,500,000 — and agreed the bond bank should review the exact ask and terms.

Dylan Little said the city should ensure any interest or loan payments come back into the city's MDF account as the loan is repaid. "We would like to see that money returned back into MDF as it's paid back," Little said, asking whether an interlocal agreement would be required so the bond bank could pass payments through on the city's behalf.

A bond-bank representative explained state statutory authority has been used previously to transfer funds to and from the bond bank and that the city could structure an agreement so payments are returned to the city as received or on an annual basis. The representative said the bond bank would structure its agreement to match the bond bank's arrangement with the county redevelopment commission.

Council members repeatedly emphasized they wanted the bond bank to do due diligence on project risk — including the TIF revenue profile and any existing debt on the redevelopment area's TIF — before the city committed MDF funds. Dylan Little noted the project's TIF projections in the materials show revenue that later declines to roughly $300,000–$400,000 annually, which he flagged as a potential long-term repayment risk.

Participants agreed the next step is a focused briefing with the project's point person, Mike Perlberg, and Dwayne Bischoff, with materials shared to the bond bank board in advance. The bond bank meeting could be held in executive session at the developer's request to protect competitive information. The meeting ended with an adjournment motion that passed.