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Dear Editor:
As Carmel’s mayor leaves office, he leaves a legacy of numbers.
In 26 years, his city’s population grew 185 percent as its debt increased exponentially to $1.5 billion today with more borrowing planned.
Carmel’s city budget grew 71 percent and its property tax rate, more than 50 percent.
More than 140 roundabouts cost a half-billion dollars in borrowed principal and interest, reducing accident and injury accident rates by half of 1 percent.
In recent months, three major scandals erupted:
- A 46-percent cost overrun on Hotel Carmichael built on public expense despite a developer’s “guarantee” it would build not one, but two “motor courts.”
- A sexual harassment complaint against the city attorney which the mayor squelched for more than a year and then accepted the attorney’s resignation after a city councilor’s investigation was brought to his attention
- Another sexual misconduct case within the police department.
The twin jewels of the mayor’s vision, the Palladium and Hotel Carmichael, remain locked in debt. The two hotel bonds won’t be paid off until 2035 and the two Center for the Performing Arts bonds, until 2033.
The mayor initially proposed the Center as a $17 million program funded by donations and grants. The 2022 principal and interest payments on Palladium bonds is $7 million alone.
A $300 million increase in principal and interest owed last year alone won’t be paid off until 2046.
As with Robert Owens’ New Harmony, Ind., Carmel’s utopian centrally-planned dream evaporates in the harsh sunlight of reality.
Bill Shaffer
Carmel