Ponzi [pon-zee] noun A swindle in which a quick return, made up of money from new investors, on an initial investment lures the victim into much bigger risks. Have you ever stopped to think about the real reason behind Carmel mayor Jim Brainard’s quest to maximize the Assessed Valuation (AV) and tax revenue potential […]
Category: Carmel Redevelopment Commission
‘Strong Towns’ Author: Local Governments Bear The Weight of Imprudent Growth
The outlook is not good for the nation’s cities if current trends continue. (Podcast on site) That’s according to Charles Marohn Jr., the author of the new book “Strong Towns: A Bottom-Up Revolution To Rebuild American Prosperity.” He’s also the head of Strong Towns, a not-for-profit organization that talks about urban issues. In his book, Marohn writes […]
Hotel Carmichael Mock ups
Opening May 2020, Hotel Carmichael will emerge as Carmel’s first lifestyle boutique hotel. Follow along as we reveal sneak peeks of how we bring this beautiful masterpiece to life! So what ostentatiousness can be built when taxpayers have all their skin in the game? Quaint study And for the weary traveler arriving by bicycle, […]
The Rent is too damn high!
Latest About Events Podcasts Community The Book Join the Movement The Paradox of Persistent Vacancies and High Prices November 27, 2017 by Charles Marohn Last month in our social feed, I shared an interesting piece from Greater Greater Washington on the glut of vacant office space in Washington DC. In a city with explosively high […]
Lotteries, a tax on people who can’t do math?
I noticed my good friend Carmel Bruce Kimball is touting a potential lottery for the socialistic-private partnership The Proscenium because demand might be outstripping supply for $650,000 condos under 2,000 square feet. When I was a commercial lender and credit analyst in BikeTown USA, aka Steamboat Springs, Colorado, in the […]
A Former Derivatives Analyst gives the true state of Carmel’s current finances
Derivatives Analyst gives 2020 update on Carmel finances and S&P rating. This chart would represent the impact of the City of Carmel if it were to spend no more Public Taxpayer funds for re-development. The chances of that happening are zero. The far-right column shows Total Debt obligations. Additional information below added […]
Carmels Delicate Condition.
How much empty space is too much? Of 383 available commercial properties in Carmel (0nly 217 were available in March 2019) over 20 are on Rangeline Rd. between 116th and 136th St. alone. That is more than 1 vacancy per block on Rangeline alone. This during what many consider the best economy in our countries […]
Sophia Square seems to be in a death spiral.
Sophia Square: is a smooth landing possible? A “death spiral” is a situation that keeps getting worse and that is likely to end badly with great harm or damage being caused. Currently, Sophia Square has 24 available units out of a total of 202. This is an occupancy rate 0f 88.1% or a vacancy rate […]
PART 2: Just how does Carmel keep tax rates low while spending more and more each year?
In Part 1, we described the delicate balance of municipal government finance – revenues, expenses and the tax base. We also discussed how any increase or decrease in one requires an offsetting increase or decrease in the others to keep thing in balance. Since first elected as mayor of Carmel in 1995 – nearly […]
PART 1: Just how does Carmel keep tax rates low while spending more and more each year?
A major talking point of Carmel mayor Jim Brainard and those councilors aligned within him on the City Council is how Carmel’s taxes have remained low, even as the city and demand for its services have both grown substantially. Even as they make this claim, the city budget — and spending — grows year after […]