The City Council Finance Committee recently voted 4-0 to send an ordinance to the full City Council that will require all debt incurred by the Carmel Redevelopment Commission to be overseen by the Council. This regulation will help to ensure the city’s budget can be managed effectively.
Councilman Eric Seidensticker explained, “Part of the reason for this is the CRC is in financial trouble.” This ordinance will make it so the CRC “will approach debt like any other commission,” according to Councilman Rick Sharp.
The intent of the ordinance isn’t for the Council to exercise control over the actions of the CRC – just the debt. Mayor Jim Brainard said of the ordinance, “The intent was to set up a process by which the Council can exercise fiscal oversight,” not a process by which the council could micromanage the CRC.