Keystone Realty Group is asking Carmel to issue $3.8 million in economic development bonds to help pay for parking and site work on a 5.3-acre property it plans to redevelop at the intersection of Old Meridian and Main streets.
The Carmel Redevelopment Commission’s 2014 revenue is estimated to exceed expenses by less than $100,000—a narrow margin for an agency with annual debt payments totaling $17.5 million.
Edward Rose Development Group is asking the city to issue tax-increment financing bonds to help pay for a parking garage and infrastructure in an $80 million project it’s planning.
New financial projections suggest the Carmel Redevelopment Commission will have enough annual revenue to pay its debts for the next 15 years before dipping into reserves. But property taxes from the city’s two-dozen TIF districts could fall more than $1 million short as soon as next year.
The tiny Hamilton County community is mindful of sprawl in Carmel and Fishers, and is determined to absorb growth on its own terms.
Preliminary plans call for starting work on a parking garage and as many as three mixed-use buildings this fall, with another half-dozen projects in the pipeline.
The cash-strapped Carmel Redevelopment Commission is revising its 2014 budget to account for the loss of a six-figure income stream critics say it was not entitled to use in the first place.
Two Johnson County communities are determined to capture—and control—the next wave of suburban growth.
Angie’s List Inc. CEO Bill Oesterle has collected millions of dollars over the years by renting to the company property for its campus along East Washington Street. Now, the landlord and chief executive is pocketing millions more by selling Angie’s the property, at well above its assessed value.
The developer of a $17 million mixed-use project proposed for Broad Ripple is expected to seek a city subsidy—support that at least one City-County councilor believes should be reserved for neighborhoods starved for investment farther south.
The city of Indianapolis is poised to pay Citizens Energy Group $6.5 million to buy a key parcel of real estate it’s targeting as the centerpiece of its ambitious 16 Tech project.
Tenants include interior designers, artists, kitchen cabinet firms.
A Minnesota-based mining company plans to spend as much as $350 million to build a iron ore pellet plant in Indiana, creating up to 100 jobs by 2015, the company announced Tuesday morning.
Indianapolis city-county councilors hope expanding the downtown TIF district will mean more jobs for their constituents. Developers, city contractors and other firms benefiting from the expanded economic-development zone must try to ensure that 40 percent of their work force comes from within the expanded TIF area.
The Indianapolis City-County Council on Monday night voted 25-2 to expand the downtown tax-increment financing district to the northeast and northwest.
Loren Matthes helped broker first tax-increment financing deal in the state
The refinancing would free up about $8.8 million for future development projects and keep the Carmel Redevelopment Commission out of the red. But a skirmish is brewing over a CRC proposal for the city to help cover operating expenses.
Mayor proposes shifting $10 million out of downtown district to help make up for $65 million general-fund shortfall.
Republican Mayor Greg Ballard’s aides says delayed action on funding proposals could jeopardize pending economic development proposals.
Redevelopment of the Massachusetts Avenue fire station could remain in limbo for the foreseeable future, as Mayor Greg Ballard and council Democrats enter a standoff over tax increment financing districts.
