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Review finds no conflict in state's deal with Mainstreet

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An economic development incentive deal between the state and a central Indiana real estate company that was put on hold by Gov. Mike Pence has passed a review by a panel looking for potential conflicts of interest.

Pence asked the Indiana Economic Development Corp. in early April to review its decision to grant $345,000 in performance-based economic incentives to Mainstreet Property Group LLC, a company started by a top Republican lawmaker and his son.

"Today, the policy committee of the Indiana Economic Development Corp. board of directors reviewed the Mainstreet Property Group LLC project regarding potential conflicts of interest," the IEDC said Tuesday in a prepared statement, citing committee chairman John Mutz. "The committee found no conflicts and confirmed that the IEDC incentive offer to Mainstreet is very much in line with other IEDC projects. The committee recommended that the IEDC proceed with the project."

Mainstreet, which develops senior and assisted living complexes, was co-founded by Republican House Speaker Pro Tem Eric Turner and is run by his son, Zeke.

The IEDC awards tax breaks and training grants to foster economic development in the state. Mainstreet was offered conditional jobs tax credits and training grants if it hired additional workers as part of its move from Cicero to Carmel. The deal was announced April 8 by IEDC.

IEDC spokeswoman Katelyn Hancock said in a prepared statement April 8 that the agency, at the governor's request, "placed the letter of intent with Mainstreet Property Group LLC on hold pending a review by the IEDC board of directors."

Mainstreet is planning to spend $800,000 leasing and equipping 7,120 square feet of office space in Carmel, and hiring as many as 25 new workers by 2015. The company currently employs 20 workers.

Founded in 2002, Mainstreet has been one of the fastest-growing companies in central Indiana in recent years. It currently has some $200 million in projects under construction.

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  1. If I were a developer I would be looking at the Fountain Square and Fletcher Place neighborhoods instead of Broad Ripple. I would avoid the dysfunctional BRVA with all of their headaches. It's like deciding between a Blackberry or an iPhone 5s smartphone. BR is greatly in need of updates. It has become stale and outdated. Whereas Fountain Square, Fletcher Place and Mass Ave have become the "new" Broad Ripples. Every time I see people on the strip in BR on the weekend I want to ask them, "How is it you are not familiar with Fountain Square or Mass Ave? You have choices and you choose BR?" Long vacant storefronts like the old Scholar's Inn Bake House and ZA, both on prominent corners, hurt the village's image. Many business on the strip could use updated facades. Cigarette butt covered sidewalks and graffiti covered walls don't help either. The whole strip just looks like it needs to be power washed. I know there is more to the BRV than the 700-1100 blocks of Broad Ripple Ave, but that is what people see when they think of BR. It will always be a nice place live, but is quickly becoming a not-so-nice place to visit.

  2. I sure hope so and would gladly join a law suit against them. They flat out rob people and their little punk scam artist telephone losers actually enjoy it. I would love to run into one of them some day!!

  3. Biggest scam ever!! Took 307 out of my bank ac count. Never received a single call! They prey on new small business and flat out rob them! Do not sign up with these thieves. I filed a complaint with the ftc. I suggest doing the same ic they robbed you too.

  4. Woohoo! We're #200!!! Absolutely disgusting. Bring on the congestion. Indianapolis NEEDS it.

  5. So Westfield invested about $30M in developing Grand Park and attendance to date is good enough that local hotel can't meet the demand. Carmel invested $180M in the Palladium - which generates zero hotel demand for its casino acts. Which Mayor made the better decision?

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