Articles

Report: Carmel panel may face TIF shortfall but can pay debts

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.

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Oesterle sells land to Angie’s List, reaping millions

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.

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Development may spawn TIF tug of war

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.

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City asks developers to make local hires in downtown TIF

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.

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Carmel moves toward $183 million refinancing

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.

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