If the [Carmel City Center] deal is so secure, why do the bonds have to be backed with a Special Benefits Tax [Oct. 6]? Carmel residents don’t realize that Mayor Brainard is now putting all this development on the backs of residential taxpayers. He has to do this in order to get financing at low rates so he can make payments until he gets out of office.
So now and forever, residential taxpayers are guaranteeing payments on TIF bonds. He is jeopardizing our city’s fiscal health in order to fulfill his unsustainable vision. If Carmel is No. 1, developers like Pedcor should be willing to complete projects like Midtown without taxpayer subsidies.
former Carmel councilman