Anderson Redevelopment Commission - 06-09-26

The Anderson Redevelopment Commission held a meeting on June 9, 2026, primarily to discuss and approve the extension of a loan agreement with the City of Anderson Utilities. The commission reviewed the status of a $7 million line of credit originally entered into in July 2025 for Municipal Light and Power, noting that approximately $2.38 million had been drawn to date. The commission voted to renew the loan for an additional year, from July 8, 2026, to July 7, 2027, maintaining the original terms including a 3% interest rate. This extension is intended to provide liquidity until the Indiana Utility Regulatory Commission completes the ongoing rate case. No other procurement or contracting matters were addressed during the meeting.