Ind. Code § 36-7.5-4.5-31

Sec. 31. On the date that all financing obligations for a development project in a district established in a member county are no longer considered outstanding and all expenses incurred by the development authority in connection with the exercise of the development authority's duties and obligations set forth in this chapter have been paid, all money remaining in each district's account (or municipality's subaccount) in the south shore improvement and development fund shall be distributed to the redevelopment commission of the municipality in which each district is located, or to the municipality if a redevelopment commission does not exist.