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 […]
Posts
Economic Development as if Citizens and Small Business actually matters!
Things Carmel could have done other than borrowing $1.36B for E.D. and Developer incentives that should be unnecessary in the “#1 city in Indiana” (it is a real stretch to believe Carmel is or ever was the #1 city in the U.S.). Instead, we chose not to engage with average citizens except via sources like […]
Dan McFeeley drinking beer and being rude for a $8,000+/month
Dan McFeeley was a writer for the Indy Star who ingratiated himself with Mayor Brainard through repetitive superlatives. He romanced the Mayor and got a starting ‘ghost’ contract of $100K annually out of it. I say ghost because it wasn’t clear what Danny Boy would do for the money. In an early bill to Carmel […]
Is Carmel Social Media a City site or not?
The number of Councilors that use the site for both self and business promotion and the banning of accepted members that broke no rules of conduct is inexcusable. The rules of conduct were tough and it was easy enough to get reprimanded for not following them, as an example, they allowed NO PROFANITY which I […]
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 […]
2020’s First City Council Meeting!
On Monday, 01/06/2020, look for the Mayor to be talking dollars and cents ($200M+?) as he has in the first year after every election since 2000. How long will the meeting go? Less than 4 hours would be an improvement over 2016. He knows only a few are paying attention and he is emboldened by […]
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 […]
Maintenance is Carmel’s Achilles Heel. It is an obvious issue at Sophia Square.
With the elimination of the Clerk-Treasurers office Mayor Brainard has closed the door on any oversight. What we think is important is not as relevant as the actual tenant’s own comments. Here is a sampling: https://www.apartments.com/sophia-square-carmel-in/dxkz8qj/#reviewsSection So why do the tenants complain? Could we find indications of deferred maintenance from a quick […]
Sophia Square – The Promotional Plans
So what is the reality today at Sophia Square on Main Street? Next: We will explore this much-ballyhooed project less than 10 years after this high standard was set in Carmel Citizens expectations.