Articles

Brainard seeks deal on maxed-out TIF

Carmel Mayor Jim Brainard might relinquish his political trump card in an effort to refinance some of the $240 million in debt that’s weighing on the city’s tax-increment finance districts.

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Deal rekindles $45M downtown project

Former partners in Kosene & Kosene Development have settled a legal dispute that jeopardized redevelopment of the vacant former Bank One Operations Center downtown. Milhaus Development has until May 1 to begin construction.

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Carmel councilors want final say on city’s debt

Carmel City Councilor Eric Seidensticker on Thursday morning proposed an ordinance that would require the council to sign off on any additional debt. The ordinance is backed by at least five of the seven councilors.

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Councilor seeks review of city’s TIF-district strategy

Brian Mahern, a Democrat on the City-County Council, plans to propose a study commission to examine the effectiveness of TIF districts, how property tax caps will affect them, and ways to increase transparency for the complicated financing vehicles.

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Political neophyte Ballard cruises to second term

A contentious battle for Indianapolis mayor culminated in a second term for Republican Mayor Greg Ballard, who won the race with 51 percent of the vote. His Democratic challenger, Melina Kennedy, garnered 47 percent.

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