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Dear Editor:
Carmel’s civic debt addicts are hard at work gobbling up more land.
Its annual financial reports list $140 million in land ownership already. Four bonds allocate $31 million in borrowed money to buy land (plus interest over the life of the bonds) according to bond data the city provided the Indiana Department of Local Government Finance.
The Carmel Redevelopment Commission (CRC) already owns more than 120 parcels of land according to county record. Now it is getting city council approval to buy 453 other parcels.
This is the bunch that earlier was authorized to buy seven parcels for $3.5 million and bought the seven for $10.2 million. What it pays for 453 more is anyone’s worst nightmare.
Is it time Carmel voters intervened with the addicts?
Bill Shaffer
Carmel