The Fishers Redevelopment Commission passed a resolution Monday evening, funding additions to The Yard complex that add $6 million to the project’s Tax Increment Financing (TIF) debt. The commission held its second public hearing, with no members of the public offering to speak on either occasion.
The original TIF debt to construct just the culinary center, which has already been enacted, is $9.2 million, according to the city’s bond attorney Rick Hall. The $6 million in additional TIF debt will be used to finance a parking garage, which will be needed with the addition of multi-family housing as part of the plan, Hall told LarryInFishers.
The financing plan approved by the Redevelopment Commission must still go through more approvals before the decision on the additional TIF debt is final.