Carmel Redevelopment Commission approves using $350K to narrow Carmel History Museum funding gap 

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The Carmel Redevelopment Commission voted May 24 to use $350,000 previously earmarked for exhibits and other interior work at the future Carmel Clay Historical Society museum to instead help cover a shortfall in construction of the building itself.

CCHS Executive Director Debbie Gangstad said the first round of bids for the three-story museum on the southwest corner of 1st Street SW and Monon Boulevard came in $3 million above initial estimates, and after adjusting the project the second round of bids left CCHS with a $450,000 shortfall. CCHS plans to cover the additional $100,000 through fundraising and grants.

CCHS aimed to begin construction on the $4.7 million museum two years ago, but the pandemic, supply chain issues and inflation led to delays and increased costs. Now, the project cost is $6.3 million.

“Everything we have gone forward with has raised in price,” Gangstad told the CRC.

The 15,000-square-foot museum is proposed to have space for galleries and exhibits, community meeting space, public restrooms, archives, a gift shop and a rooftop garden. The historic Monon Depot Museum, which served as a train depot from 1883 until 1974, will be north of the building.

The CRC previously committed more than $1 million to the project (not including the reallocated $350,000). The museum has also received more than $5 million from Clay Township.

CRC Director Henry Mestetsky said it makes sense to use the funds, which are from the 2021 tax increment financing bond, to help construct the building, as there won’t be interior work if the museum exterior isn’t complete.

“We’d like to use the entirety of that money to make sure the project gets built,” he said. “It’s tough to kick off fundraising until the first brick is laid. Once this project begins construction, fundraising can really take off.”

Mestetsky said he doesn’t expect the CRC to make additional contributions to the project beyond the $1.4 million already committed.

“(The museum) will be transformational for Midtown and for Carmel as a whole and shows that the CRC equally desires to see Carmel grow and evolve responsibly while respecting and supporting our history,” he said.

Gangstad said CCHS is holding fundraisers and contacting potential donors to help cover the cost of the interior work.

“We’ve got a plan on how we can still get it done,” Gangstad said.

Gangstad said groundbreaking for the museum is expected within six weeks. Construction is estimated to take 16 months.


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