Carmel council to consider nearly $39M in bonds to support several developments

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The Carmel City Council will consider nearly $39 million in new bonds at its Nov. 18 meeting, as well as discuss several other proposals with financial implications.

The bond proposals include:

  • $16.5 million for a parking garage and sky bridge to support the Franciscan Health Orthopedic Center of Excellence
  • $12.5 million for a structured parking facility and vertical improvements including for-rent apartment units and office and retail space at the South Rangeline Project
  • $6.2 million for infrastructure improvements (including an extension of Rohrer Road and a roundabout at Smokey Row and Rohrer roads) to support mixed-use residential, office and retail development at North End
  • Nearly $3.6 million for improvements to City Center, including construction of public restrooms, various roads, sidewalks, sky bridges and more

The meeting will also include discussion of a nearly $30 million bond issuance proposed by the Carmel Clay Public Library and a $17 million bond for waterworks projects.

The agenda also includes discussion of a proposed 10-year 80 percent tax abatement for Zotec Partners, which is building a new headquarters on Illinois Street.

See the agenda at carmel.in.gov/home/showdocument?id=13754. The meeting is scheduled to begin at 6 p.m. at Carmel City Hall.


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