Carmel city council approves $39M in developer-backed bonds

0

The Carmel City Council met Dec. 2 to vote on issuing developer bonds, an additional appropriation for the law department budget and more.

What happened: The council approved several resolutions and ordinances that authorize the city to issue $39 million in developer bonds.

What it means: The bonds will fund infrastructure improvements, such as roundabouts and parking garages, at the future Franciscan Health Orthopedic Center of Excellence, City Center, North End and the South Rangeline Project. Because the bonds are backed by developers, the city and Carmel taxpayers are not responsible for repayment.

What’s next: The projects are in various stages of development.

 

What happened: The council approved an additional appropriation of $40,000 from the general fund to the 2019 law department budget.

What it means: Senior Assistant City Attorney Jon Oberlander said litigation costs during 2019 were “higher than expected” and that it can be difficult to know how much funding the department may need in a year because of the unpredictable nature of litigation.

What’s next: The council suspended the rules and approved the ordinance on first reading.

 

What happened: The council approved 2020 dates for suspension of the ordinance regulating short-term residential rentals.

What it means: The city chooses not to enforce its ordinance requiring permits for short-term rentals, such as Airbnb listings, on certain days of the year. The 2020 dates are March 4 to 8 (Big Ten women’s basketball tournament), March 11 to 15 (Big Ten men’s basketball tournament), April 3 to 4 (Carmel Marathon), May 1 to 2 (Mini Marathon), May 22 to 24 (Indianapolis 500), July 11 to 18 (Songbook Academy), Nov. 8 to 9 (Monumental Marathon) and Dec. 4 to 5 (Big Ten football championship).


Current Morning Briefing Logo

Stay CURRENT with our daily newsletter (M-F) and breaking news alerts delivered to your inbox for free!

Select list(s) to subscribe to



By submitting this form, you are consenting to receive marketing emails from: Current Publishing, 30 S. Range Line Road, Carmel, IN, 46032, https://www.youarecurrent.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Share.