Shaffer updates readers on Carmel’s debt status

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Dear Editor:

Carmel central planners have added $221.3 million to the city’s total debt just since Jan. 1, a 15 percent increase.

The Indiana Department of Local Government Finance lists the city’s total outstanding debt obligation at $1.4 billion.

For comparison: Fishers’ debt is $542.6 million; Noblesville’s is $333.4 million; Westfield’s is $180.4 million, and Carmel’s other neighbor, Zionsville’s, is $66.3 million.

The nine new bonds are:

  • Franciscan Hospital subsidy – $18.5 million
  • Waterworks meter replacement – $6.1 million
  • Sewage works bond refinancing – $8 million
  • Sewage work meter replacement – $3.9 million
  • Redevelopment Commission debt service and unspecified projects – $27.6 million
  • Home Place streets and stormwater projects – $77.7 million
  • Police station annex and IT department relocation – $43.3 million
  • Police annex parking ramp – $13.4 million
  • Unspecified mixed-use redevelopment project – $22.7 million

A $50 million subsidy to attract Republic Airways to Carmel has been approved but not sold.

That passes for fiscal leadership in Carmel.

Bill Shaffer

Carmel