The purpose of the Carmel Redevelopment Commission is to maximize TIF! By maximizing TIF they create debt instruments to add infrastructure. Infrastructure is added to attract new taxes that hopefully results in additional TIF growth and then the cycle is repeated. So long as buildings are occupied, by lessors paying the market rate and is […]
Category: Carmel Redevelopment Commission
Shaver asks more questions (third request) about development in Carmel Posted By: The Reporter April 4, 2019
Dear President Worrell and Members of the City Council, First, it is important to note that your most recent response still does not include a single document related to the “Developer Guarantees,” despite multiple requests. Graphic provided Respectfully, I have no alternative but to attach the Records Request documents for the third time. I’m sure […]
Carmel City Council President Worrell responds to letter from Mike Shaver
Posted By: The Reporter March 22, 2019 Dear Editor, On March 18, Mr. Shaver addressed the Carmel City Council claiming Carmel taxpayers were unprotected regarding buildings not yet constructed in Carmel City Center. Unfortunately, before given an opportunity to respond, Mr. Shaver made the same claims in a letter to the editor the very next […]
Shaver: What exactly did Pedcor “guarantee”?
March 27, 2019 Dear Editor: The following is a response from Carmel resident Mike Shaver to the members of the Carmel City Council, including Council President Jeff Worrell. Dear Mr. Worrell & Members of the Carmel City Council: Thank you for responding to my inquiry regarding the “Developer Guarantees” for City Center, and for including […]
TIF: Tax-Increment Financing or Taxpayer-Indebted Future?
Tax-Increment Financing (TIF) has been a prominent funding tool used by local and regional governments for decades to spur redevelopment of blighted areas within those jurisdictions. The basic premise of TIF is that redevelopment of a blighted area results in an increase in the value of the redeveloped parcel(s). TIF captures the additional revenue generated […]
How to build a hotel without financing, public support or proven demand — and create a fiscal crisis at the Carmel Redevelopment Commission
Imagine that you reach a point in your life where you decide you want to build your own house. Not a modest single-story reach-style, split-level or neo-Craftsman, mind you. But the largest, fanciest and most noticeable house in town. Your new house is going to be so famous that townsfolk are talking about it even […]
Missing teeth and more New Commercial and Apartment Space is coming fast!
What is Mayor Brainards plan for vacant space? There are 217 Commercial Properties available currently in Carmel! How many thousand square feet of new space is coming online in the next year? We currently have 41 storefronts between the Monon and Woody’s Library on Main St. Of those 6 small businesses are vacant or a […]
Heard of the $21.8M Energy Center Boondoggle?
The first question to answer is what did we pay for the Energy Center? The following PDF shows we paid a Total of $21.8M This is really just a complex Loan scheme as explained in this information from the Vendors website. It wasn’t like the Newspapers didn’t keep us abreast of what was occurring […]
Evan Lurie Gallery 12 years after!
Evan Lurie Gallery incites fury, with reason Author Archives November 15, 2007 Filed under PERSPECTIVES By: Jaclyn Chen <jchen@hilite.org> Yet another question surrounding the allocation of Carmel taxpayer dollars has been raised. This time, the case involves the $4.1 million Evan Lurie Gallery of Fine Art located on Main Street. Carmel has invested $1.2 million […]
Can Carmel afford 4 more years of Brainard/Mestetsky generating $10.9M each month of new debt?
Since being re-elected to a SIXTH term in 2015 Mayor Brainard has indebted Carmel citizens an average of $10.9 million EACH MONTH. Overall debt is up 47% in just 39 months. Fear not all is not lost! We have a spectacular new hotel, backed entirely by a Special Benefits Tax, under construction. *Financing yet to […]