NEW ALBANY — Mayor Doug England’s administration is asking the New Albany City Council to table the final vote today (Monday) on backing a $3.7 million loan for Windstream Technologies with tax-increment financing.

The company — which is located in the Purdue Research Park of Southeast Indiana — is seeking to expand to the Colonial Manor shopping center off Charlestown Road.

Windstream is requesting the city back an economic development bond worth up to $3.7 million with TIF funds to facilitate the move and allow the company to begin mass production of its wind turbines.

The city would not be responsible for the 10-year bond note unless Windstream defaulted on the loan and could not pay the amount. As proposed, TIF funds from the Charlestown Road TIF district would be reserved to cover the payments.

The city’s bond counsel advised the backing of the bond with TIF funds makes it more attractive to a potential buyer.

Though the proposal was approved on initial readings by the council as well as the New Albany Redevelopment Commission, Deputy Mayor Carl Malysz said Friday the administration wants to resolve some issues regarding the repayment of the bond before a final vote is taken.

Malysz said the administration is trying to ensure the city has “reasonable assurances and protections in place” to assure the loan will be repaid without TIF funds being used.

He said he would not mention specifically what concessions the city is requesting in terms of security for the loan.

“Second, we have an obligation to make sure we’re not compromising any other TIF projects that are on the drawing boards or committed to in the Charlestown Road TIF district,” Malysz said.

Malysz told the redevelopment commission Tuesday there would be enough funding in the Charlestown Road TIF district to complete current projects.

But he said Friday the administration should confirm whether there will be TIF funding available for projects that may be needed in future years that have yet to be designed.

“What we want to do is present a complete package to the council that we are comfortable with,” Malysz said.

He confirmed negotiations are ongoing between the city and Windstream, but did not specify if the proposal would be brought back to the council by the end of June if tabled today.

Dan Bates, president and CEO of Windstream, said the company has international and domestic orders to fill and needs the council to approve the bond so “we can get into the manufacturing phase of this product.”

“We’re poised for success, and any delay in our ability to move forward and move forward quickly hurts our business,” he said.

Windstream began in 2009, and was featured in March in Helsinki, Finland as part of the U.S. State Department’s League of Green Embassies conference.

The company created small wind turbines designed for residential energy use, and Bates said Windstream is on pace to produce more than 40,000 units in three years.

Clean energy jobs are expected to play a large role in the future labor market, Bates said, adding New Albany could benefit from the 105 new positions Windstream plans to add within three years.

“We’re a young, startup company that is anxious to locate our facility and grow our business in New Albany, and I’m not sure of how many companies that are making that commitment to the city,” he said.

A California native, Bates said several states vied for Windstream when the company launched. He added there’s other cities where the company could locate, but said he’s been impressed with the work of England to retain Windstream.

“We enjoy and we’re happy to be here in New Albany, and we’re hopeful the city council can find its way to see the value of this business and support us,” Bates said.

The deal is not off between the city and Windstream, England said.

“We’re very much for it, we just have to work out a few things...make sure we’re comfortable and the council’s comfortable because we’re responsible for the citizen’s taxes,” he said.

The Windstream project, by virtue of affirmative votes from the council and redevelopment commission, has already been placed in the Charlestown Road TIF district.

But the bond required a separate vote though it would be secured with TIF funds.

Councilwoman Diane McCartin-Benedetti credited the administration for slowing down the process if there are questions that still need to be answered.

“I’m really happy that the city administration is doing their checks and balances,” she said.

The council meeting is scheduled to begin at 7:30 p.m. today in the third-floor Assembly Room of the City-County Building.

Votes to raise taxi rates in New Albany as well as to appropriate funds for police vehicles are some of the items on the agenda.