Letters to the Editor do not reflect the opinions of The Reporter, its publisher or its staff. You can submit your own Letter to the Editor by email to News@ReadTheReporter.com. Please include your phone number and city of residence. The Reporter will publish one letter per person per week.
Dear Editor:
Carmel central planners have fed voters a ration of mythology for more than 25 years.
“Growth will repay debt,” they say.
The truth is spending has built a $1.4 billion debt.
And now the newly elected city council is about to a third to a half of a billion dollars to that according to city records:
- First comes at least $167 million bonds to bail out the water and sewer operations.
- Then comes $76 million for a Gramercy Project.
- And, finally comes $75 million for a 111th and Pennsylvania Project.
- (And, as a kicker, property tax valuations are up 10 percent in 2024.)
Interest costs will add a couple hundred million more depending upon the ever-increasing interest rates charged the city.
Instead of the “growth will pay,” the sad truth is faced with “taxpayers will pay.”
The spending and borrowing must stop.
No magic.
No promises.
Just reality.
Bill Shaffer
Carmel