Carmel Convo
On Wednesday night, the Land Use and Special Studies Committee reviewed the developer-backed bonds for the remodel of the Brookshire shopping center at the 126th Street and Gray Road (which will bring in the Needler’s Grocery Store). I am a member of this committee.
It was sent to the full council with a 3-1 positive recommendation (I voted in favor along with Councilors Hannon and Rider, councilor Green voted against).
I voted in favor for a number of reasons. I believe there’s a strong desire to see a grocery store at this location and the reality is without a remodel the grocery store will not come.
There’s also no risk to the taxpayers. The developer is buying the bonds and so if tax revenue falls short the developer is still on the hook to pay the bonds.
In addition, due to the way this is structured, Carmel schools and the City of Carmel will actually see increased tax revenue as a result of this project.
Also, if this grocery store space remained vacant it could have a negative impact on neighboring businesses and nearby residential property values.
Finally, a grocery store is an appropriate use of the space in this location. It enhances the area. Some other suggested uses for the site could have a negative impact on nearby residents.
Rendering provided
I was also encouraged by the fact that Needler’s has a strong commitment to the location and the way the lease is written they can’t leave early without financial penalties. I pressed them on this and I was pleased with the response.
The proposed $2.5 million bond will help KennMar remodel the building facade and the bond would be backed by the developer and the taxpayers would not be on the hook for it.
Currently the property pays $73,000 a year in taxes and the hope is that the facelift doubles it, with $86,000 a year flowing to all taxing units and the rest being used to pay the TIF. That means more money for the city and the schools and a new grocery store that the east side gets to enjoy.
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How can you help?
Well, the full vote will be this Monday night at 6 p.m. If this passes, then the project will get started. I do believe there are enough votes to pass this but some councilors are on the fence so it’s very important that you share your voice. The meeting is still online due to COVID-19, so here’s how you get your comment read publicly:
If you wish to comment regarding a subject at an upcoming meeting, please click here to submit your comment form. Comments are due by 3 p.m. the day of the meeting you wish to submit a comment for.
You can also email the council here:
jworrell@carmel.in.gov; thannon@carmel.in.gov; sfinkam@carmel.in.gov; mnelson@carmel.in.gov; lcampbell@carmel.in.gov; agreen@carmel.in.gov; bkimball@carmel.in.gov; aaasen@carmel.in.gov; krider@carmel.in.gov