Historic group of Carmel projects total $335 million

By FRED SWIFT

The County Line

Adding up the costs of the Carmel community’s current public building projects, the total is enormously impressive and probably historic.

These local government projects have all been reported previously, but generally one by one from officials of the various entities undertaking their own building programs, namely Carmel Clay Schools, Clay Township, the City of Carmel and the Carmel Public Library.

These include the first of the school system’s $105 million facilities improvement plan. This year nearly half of that amount will go into high school upgrades (new boilers, roofing, etc.), planetarium improvements, baseball and soccer field renovations and parking expansion. Next year a new $43 million natatorium has been approved.

The Clay Township administration has a $65 million Community Impact program underway, which features a new fire department administration building and fire buffs’ museum, a Dad’s Club fieldhouse, a historical society museum and major improvements in several local parks.

The city recently approved a $125 million bond issue to finance numerous street improvements and additional roundabouts plus the new water tower feature that will allow huge video displays.

The Carmel Clay Public Library is in the midst of a $40 million renovation and expansion of the main library and construction of a parking garage.

All told, these building programs have a total cost of about $335 million. Little to no property tax increase is promised in these massive programs. How do they do it?

It’s done by a combination of making use of existing debt retirement rates when current bonds mature, a rapidly increasing tax base, proceeds from existing building funds and, in some cases, refinancing some debt at current lower interest rates.

All the building is certain to bring more change to the public face of the community, as if change was not already almost a daily occurrence in Carmel.