Redevelopment director reports October balances and project progress; Baker Tilly TIF presentation set for December

The Carmel Redevelopment Commission received its monthly financial and project updates at the regular meeting.

Mr. Lee reported the commission’s end-of-month balance for October as $8,768,683 and said that including restricted funds the total was $20,946,413. He told commissioners that next month’s packet will include more detail on the commission’s tax-increment financing (TIF) for December. Mr. Lee also presented three claim groups for approval: $114,135.75 (non-operating expenses), $984.95 (2021 lit geo bonds) and $4,500 (August gift fund); the commission approved payment of all three.

Redevelopment Director Henry Mestetsky summarized recent and ongoing projects in the city center and surrounding areas, including Monmouth Square North progress, Magnolia construction, Civic Square condo sales and Hampton Crossing work to wrap a garage with a hotel. Mestetsky noted new retail openings and cultural pieces added to the commission’s public-art collection; he invited commissioners to submit questions and flagged continued coordination among CRC, engineering and parks staff on drainage and park design.

Chair announced the next regular CRC meeting will be Dec. 17 at 6:30 p.m. in the City Council Chambers and reminded commissioners that Baker Tilly will present the annual TIF report to the CRC and invited taxing units. The commission asked staff to provide a cost breakdown and scheduling alternatives related to a separate meeting-time discussion and to return with more detail at the December meeting.

The meeting adjourned after the commission addressed other business and the chair closed the session pending execution of documents.