Jay County Redevelopment Commission

Jay County Redevelopment Commission

Funding Policy & Guidelines

I. Purpose and Authority

The Jay County Redevelopment Commission (JCRC) is responsible for the administration and allocation of Tax Increment Financing (TIF) funds generated within designated allocation areas. These funds are intended to support projects that promote economic development, infrastructure improvement, and overall community vitality throughout Jay County.

This policy establishes a clear, consistent, and transparent framework for evaluating and awarding funding requests, ensuring responsible stewardship of public resources while supporting impactful community investments.

II. Funding Priorities

The JCRC prioritizes projects that:

• Promote economic growth and job creation
• Expand or enhance the local tax base
• Improve public infrastructure and community assets
• Leverage additional funding sources (grants, local match, or private investment)
• Demonstrate long-term sustainability and community benefit

III. Eligible Uses of Funds

Funds may be used for the following purposes:

A. Public and County Projects

• Capital expenditures for public infrastructure and facilities
• Costs associated with economic and community development projects
• Startup costs directly related to new capital projects (limited and defined case-by-case)
• Matching funds for state, federal, or other grant-funded projects (typically up to 20% of total project cost unless otherwise approved)

B. Municipal and School Projects

Eligible uses mirror those of county projects, with the following additional considerations:

• Projects should demonstrate local financial commitment
• Preference is given to projects that include cost-sharing or matching funds
• Funding may serve as gap financing or seed funding rather than the primary funding source

C. Small Community Projects

For smaller communities or entities with limited financial capacity:

• JCRC may consider funding up to 100% of a project
• Typical maximum funding range: $200,000–$250,000
• Exceptions may be made based on project impact and available funds

D. Borrowing

• If and when borrowing such as with the issuance of a bond, the amount borrowed should not allow for annual payments to be more that half of what our expected annual revenue is at the time of the issuance.

IV.  Ineligible Uses of Funds

Funds shall not be used for:

• Reimbursement of expenses for projects completed prior to funding approval
• Payment or reduction of existing debt obligations
• General operating expenses (outside of approved startup costs)
• Direct funding or lending to private entities and nonprofit organizations
• Projects lacking a clear public benefit

V. Funding Levels and Cost Participation

Funding decisions will consider the financial capacity of the applicant:

• Larger entities (e.g., municipalities, school corporations with stable revenue):
  • Expected to contribute a significant portion of project costs
  • JCRC funding typically limited to a minority share (generally not exceeding 20–30%)
• Smaller entities or communities:
  • May qualify for higher levels of support, including full project funding in certain cases
• Grant-funded projects:
  • JCRC may provide matching funds
  • Preference given to projects that maximize outside funding sources

VI. Application Requirements

All funding requests must include the following:

• Detailed project description and purpose
• Total project budget, including all funding sources (secured and pending)
• Project timeline with key milestones
• Description of anticipated economic and/or community impact
• Documentation demonstrating the applicant’s ability to operate and maintain the project
• Identification of the requesting entity and responsible representative

Incomplete applications may not be considered.

VII. Evaluation Criteria

Funding requests will be evaluated based on the following factors:

• Alignment with JCRC funding priorities
• Economic impact (e.g., job creation, private investment, tax base growth)
• Community benefit and quality-of-life improvements
• Project readiness and feasibility
• Financial leverage (use of matching funds or grants)
• Long-term sustainability and maintenance plan

The JCRC reserves the right to prioritize projects that provide the greatest overall benefit to Jay County.

VIII. Approval Process

• All funding requests must be formally submitted for review
• Requests will be evaluated by the JCRC during a public meeting
• The Commission may request additional information or clarification
• Funding decisions will be made through a majority vote of the Commission

Approval of funding does not constitute a binding agreement until formal documentation is executed.

IX. Funding Agreements and Disbursement

Approved projects will be subject to a formal agreement outlining:

• Scope of work
• Funding amount and terms
• Disbursement schedule (e.g., milestone-based or reimbursement-based after approval)
• Reporting requirements

Funds will not be disbursed until all required agreements are executed.

X. Reporting and Compliance

Recipients of JCRC funding are required to:

• Provide periodic progress updates as requested
• Submit documentation verifying the appropriate use of funds
• Notify the Commission of any significant project changes

Failure to comply with funding requirements may result in:

• Suspension of funding
• Repayment of awarded funds
• Ineligibility for future funding opportunities

XI. Amendments and Exceptions

The JCRC reserves the right to:

• Amend these guidelines as needed
• Make exceptions to this policy on a case-by-case basis when a project demonstrates significant economic or community impact

XII. Effective Date

This policy shall become effective upon adoption by the Jay County Redevelopment Commission.

Baker Tilly Agreement 2026