In late 2015, Carmel missed out on a federal grant to help pay for a roundabout interchange to address gridlock at 96th Street and Keystone Parkway. Carmel Mayor Jim Brainard vowed that he would find a way to get the project done even if he didn’t receive state or federal funding.
In early 2016, the Carmel City Council approved $242 million in new bonds to build up to 32 roundabouts, which includes funds for the 96th and Keystone teardrop roundabout interchange, similar to the setup at 116th and Keystone. An exact amount for this roundabout wasn’t specified by the city, and Brainard said it depends on how much money is raised through other sources. The county has already pledged $2 million for the project. He said no matter what, Carmel will get this project done.
But Brainard said he hasn’t given up on getting state or federal funding for the project.
On Feb. 3, Brainard said the administrative committee of the Metropolitan Planning Organization recommended that Carmel get $11 million for the 96th Street and Keystone Parkway project that would be received in 2020.
Final approval is still needed, but Brainard said the recommendation is a good sign. A final approval could be expected sometime in March.
If funding comes through, Brainard suggests that Carmel could use a state program that allows the city to turn money over to the state for 75 cents on the dollar to receive funding three years earlier, in 2017. That would lead to around $7 million, and Brainard said it could make a big difference for the project, which was estimated at more than $30 million at one point.
“This will be very helpful,” he said.