HomeMy WebLinkAboutDraft 2004 AmendmentCarmel Redevelopment Commission
Carmel, Indiana
~r~/t 2004 Amendment:
Integrated Economic
Development Plan &
Amended
Redevelopment Plan
Integration & Consolidation of
Economic Development &
Redevelopment Areas
of the City of Carmel
originally passed January 31, 2000
amended February 10, 2004
(2004 amended text is printed in 11 pt arial font for identification purposes)
Michael R. Shaver, President
3799 Steeplechase Drive
Carmel, IN 46032
(voice) 317/872-9529
(fax) 317/872-9885
(e-mai/) wabsci@aol, com
OLD MER/D/AN ECONOMIC
DE VEL OPMENT AREA
COMMERCIAL BUILDING 2001
COMMERCIAL BUILDING 2002
COMMERCIAL BUILDING 2005
COMMERCIAL BUILDING NOT COMPLETE
COMMERCIAL ADDITION 2001
COMMERCIAL ADDITION 2002
COMMERCIAL ADDITION 200.3
COMMERCIAL ADDITION NOT COMPLETE
MULTIFAMIL Y 2001
MULTIFAMILY 2002
MUL TIFAMILY 200.3
MULTIFAMILY NOT COMPLETE
YEAR BUILDING CA~E INTO US£
~ ~ PROPOSED 2005
~ENDED AREAS
Produced by City of Cormel Gl$ ~ CURRENT OLD
for Deportment of Community ~ MERIDIAN E.D. AREA
Servlc~ ~ CARMEL CORPORATE
Producod~ IO/31/E. O03 ~ BOUNOARY
E 146TH ST
for Department of Communlly
Services
Produced; 10/31/2:003
126 ?H S ?REE T
AREA
OLD TOWN
ECONOMIC
DEVEL
(-~ -- ~ -- ~EA BOUND~Y ~ C0~ERCI~ BUDDING 2002
m COMMERCI~ BUILDING 2003
C) dg~ th S ~ CURR~NT H~EL DELL . CO.MERC,~ BU.O,NG NOT COMPL~,E
SOU~H E.D. ~EA & COMMERCI~ ~ITION 2001
ECOflONIC . co..~.c,...,.,o..oo.
C~MEL CORPORATE ~ COMMERCI~ ~DITION 2005
BOUND~Y A COM~RCI~ ~DI~ION NO~ COMPLETE
PROP AMENDED N~EA BOUNDARY
CURRENT CITY CENTER REDEV
CARMEL CORPORATE BOUNDARY
[] COMMERCIAL BUILDING 2001
[] COMMERCIAL BUILDING 2002
--[] COMMERCIAL BUILDING 200.3 [] COMMERCIAL BUILDING NOT COMPLETE
A COMMERCIAL ADDITION 2001
& COMMERCIAL ADDITION 2002
A COMMERCIAL ADDITION 200,3
,A COMMERCIAL ADDITION NOT COMPLETE
~ MULTIFAMILY 2001
~ MULTIFAMILY 2002
~ MULTIFAMILY 200,3
[] MULTIFAMILY NOT COMPLETE
YEAR BUILDING CAME INTO USE
Produced by City of Cormel ~
\
%
I
ECONOMIC
DE VEL OPMEN T
AREA
COIAt£BCiAL BUILDING 2001
COMMERCIAL BUILDING 2002
COMMERCIAL BUILDING 2003
COMMERCIAL BUILDING: NOT
COMM£RCIAL AODITION 200!
COMMERCIAL ADDITION 2002
COMMERCIAL AODITION 200.3
COMMERCIAL ADDITION NOT COMPLE1
MUL TIFAMIL y 2001
MUL TIFAMIL y 2002
MUL TIFAMiL y 200.3
MULTMAMII. y NOT COId~LETE
(To facilitate
review of the
2004 Amendment
to the Integrated
Economic
Development
Plan, the base
text of the 2004
amendment is
printed in arial
11pt. font, as
contrasted with
times new roman
12pt font for the
original base text)
Purpose of the 2004 Amendment
The purpose of this 2004 Amendment to the Integrated Economic
Development Plan and Amended Redevelopment Plan (the 2004
Amendment) is to acknowledge the accomplishments of the Carmel
Redevelopment Commission (CRC), and to bring this planning document
up to date in terms of development policy and vision.
The economic development planning effort which began in 1997 has
accomplished many of its original goals. The individual ED Areas have
generated new development, and the original RD Area has undergone a
major change in character and occupancy. The CRC acted in the year
2000 to integrate and consolidate the economic development planning
and redevelopment planning for the City of Carmel. Since 2000, there
has been much additional progress, and 2004 affords CRC and the
community an advantageous time to consider its previous successes,
adjust its vision in light of new realities, and set new development policy.
This document is deliberately integrated with the previous (2000)
document, in order to allow any reader the opportunity to see both the
past and the present at one time. Due to this structure, the document is
somewhat more cumbersome and intimidating, however, it is also far
more complete, hopefully allowing the City and the CRC to manage the
distribution of public information on this topic much more effectively over
the long term.
The itemized purposes of this 2004 Amendment are as follows:
To redefine and re-integrate the boundaries of the ED/RD Areas
as a result of economic growth and developmental success.
To identify and acknowledge the primary developmental stimuli of
the community in terms of future development.
To re-focus economic development and redevelopment policy
based on the knowledge gained from previous activities, as well
as new initiatives and opportunities which might benefit the City.
To revise and affirm the list of anticipated projects and activities
which the CRC is expected to face in the near future, as well as
adjusting the estimated project costs.
To develop a clear developmental and fiscal policy with respect to
the developmental relationships between various ED and RD
Areas and the importance of the City Center as the focal point of
the City in terms of government, as well as the arts.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
2
To officially affirm the integration of all ED & RD Plans and to
incorporate all previous ED/RD Plans by reference into this 2004
Amendment.
Two Primary Developmental Stimuli
The 2004 Amendment hereby categorically states that the two primary
stimuli for development of the city of Carmel as it moves forward are
expected to be:
The development of the City Center and its adjunct facilities as
the central focus of the city's arts and cultural activities, as well as
its current focus as the center of local government.
The improvement of the US31 corridor as a limited access
freeway, increasing traffic volumes, as well as handling increasing
traffic loads more efficiently and effectively.
It is the position of the CRC that these two developmental stimuli will
dominate the economic development and redevelopment of the City of
Carmel for the foreseeable future.
2004 Amendment & Update: Overview
The Carmel Redevelopment Commission (CRC) is pursuing this 2004
Amendment of the Integrated Economic Development Plan for the City of
Carmel for the purpose of assuring continuous coordination of the
activities of the CRC with other city boards and agencies. The need for
this 2004 Amendment is the happy result of substantial progress by the
CRC in achieving many of the original goals for revitalizing the central
portions of the City of Carmel. To put the matter bluntly, much progress
has been made, and in the wake of that progress, it is entirely
appropriate for the City and the CRC to evolve its goals and projects to
meet the evolving needs of the community in the central city area.
When the original Economic Development Plans (ED Plans) were
drafted, the CRC was encouraged to take a conservative approach. In
response, a few major projects were identified and funded in the various
ED Areas that were created in and around the central city area.
However, as each project was completed, the City and the CRC were
rewarded with new economic growth. As each new project was
completed, it seemed that a second project was stimulated, and it is the
accumulation of more than 6 years of economic development success
that necessitates this 2004 Amendment.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
3
Separate ED Areas Have Grown Contiguous
When the CRC began this ED Planning process in 1997, the CRC
designated several ED/RD Areas which were distinct and separate, but
which were located in the area between the US31 corridor and the
Rangeline Road corridor. At that time, the CRC took a conservative
position with respect to both the size of the ED & RD Areas and the
projects to be undertaken. The CRC could clearly see the purpose of
creating these ED & RD Areas, but it was difficult to predict the speed
with which the various development projects would occur.
Since that time, a great deal of progress has occurred. The central
portions of the City have enjoyed a long list of new developments,
including new office buildings, new apartment complexes and the removal
of blighted properties..These successes have caused the ED & RD
Areas to grow to the point that they have become largely contiguous with
one another, and the projects which are necessary to continue the
progress have become largely overlapping.
The purpose of this 2004 Amendment & Update to the Integrated ED
Plan is to enable the CRC to assure that its work remains functional and
relevant to the developmental interests of the City, even as the
boundaries between the ED & RD Areas become less clearly defined.
City Center Projects "Directly Benefit" All ED Areas
The CRC hereby asserts its conclusion that the projects contemplated for
the City Center Redevelopment Area "directiy benefit" al__~l of the city's ED
Areas. The portions of Carmel which comprise the City Center
Redevelopment Area represent some of the oldest business development
in the City. In most cases, cities refuse the tackle the complexities of
redevelopment of older commercial areas, and the result of that refusal is
that older commercial areas decay beyond the point of reincarnation.
Time and again, in city after city across America - and in Indiana - older
central business districts are allowed to decay into economic dysfunction.
And time and again, community leaders in those cities eventually come to
realize that a healthy and vibrant downtown is essential to every city.
Unfortunately, this realization generally occurs too late, and the
redevelopment process is made more expensive and far more difficult.
Carmel Leaders refused to allow this general urban phenomenon to
occur in their City. In this case, the Mayor, City Council and the CRC
undertook the planning and development efforts to stop the blight in the
City Center RD Area from decaying further. While the first phases of the
City Center redevelopment effort were mainly exploratory, the City is now
reaching a level of success where the City Center can be permanently
established as the social, cultural, and economic heart of Carmel.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
4
Separate ED Areas Have Grown Contiguous
When the CRC began this ED Planning process in 1997, the CRC
designated several ED/RD Areas which were distinct and separate, but
which were located in the area between the US31 corridor and the
Rangeline Road corridor. At that time, the CRC took a conservative
position with respect to both the size of the ED & RD Areas and the
projects to be undertaken. The CRC could clearly see the purpose of
creating these ED & RD Areas, but it was difficult to predict the speed
with which the various development projects would occur.
Since that time, a great deal of progress has occurred. The central
portions of the City have enjoyed a long list of new developments,
including new office buildings, new apartment complexes and the removal
of blighted properties. These successes have caused the ED & RD
Areas to grow to the point that they have become largely contiguous with
one another, and the projects which are necessary to continue the
progress have become largely overlapping.
The purpose of this 2004 Amendment & Update to the Integrated ED
Plan is to enable the CRC to assure that its work remains functional and
relevant to the developmental interests of the City, even as the
boundaries between the ED & RD Areas become less clearly defined.
City Center Projects "Directly Benefit" Afl ED Areas
The CRC hereby asserts its conclusion that the projects contemplated for
the City Center Redevelopment Area "directly benefit" all of the city's ED
Areas. The portions of Carmel which comprise the City Center
Redevelopment Area represent some of the oldest business development
in the City. In most cases, cities refuse the tackle the complexities of
redevelopment of older commercial areas, and the result of that refusal is
that older commercial areas decay beyond the point of reincarnation.
Time and again, in city after city across America - and in Indiana - older
central business districts are allowed to decay into economic dysfunction.
And time and again, community leaders in those cities eventually come to
realize that a healthy and vibrant downtown is essential to every city.
Unfortunately, this realization generally occurs too late, and the
redevelopment process is made more expensive and far more difficult.
Carmel Leaders refused to allow this general urban phenomenon to
occur in their City. In this case, the Mayor, City Council and the CRC
undertook the planning and development efforts to stop the blight in the
City Center RD Area from decaying further. While the first phases of the
City Center redevelopment effort were mainly exploratory, the City is now
reaching a level of success where the City Center can be permanently
established as the social, cultural, and economic head of Carmel.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
4
As such, the CRC hereby states its assertion that - because the City
Center RD Area represents a significant part of the City's original
commercial area - the City Center Redevelopment Proiects are
qenerally considered to directly benefit all of the ED & RD Areas of
the City. The CRC will therefore consider undertaking projects in the
City Center Area using TIF and other revenues which originate from other
ED Areas from time to time.
When the CRC began the initiative to revitalize the central city area, the
Rangeline Road corridor was beginning to decline. Property ownership
was fragmented in important developmental areas and new investment
for redevelopment was difficult to attract. Although the City was
committed to the creation of a vibrant downtown area, it was clear that
the process of redevelopment would take time.
Projects were originally identified to directly benefit specific ED Areas.
For example, improvements to the Pennsylvania Avenue Corridor were
specifically designed to support new development along Pennsylvania
Avenue, while the Streetscape improvement project in Old Town was
specific to that neighborhood, and projects to encourage redevelopment
in the City Center were concentrated on amassing the parcels and tracts
necessary to accomplish the long term vision for the redeveloping the
City Center.
However, as the economic development and redevelopment process has
evolved in Carmel, it has become increasingly clear that the various ED &
RD Areas are inter-dependent, and are no longer functionally separate,
especially with regard to the City Center. it js therefore the stated policy
position of the CRC that the projects contemplated for the City Center
Redevelopment Area do directly benefit the other ED Areas of the City.
The intent of this policy is two-fold: first, to enable the CRC to capture TIF
revenues from other ED Areas for use in the remaining City Center
projects; and second, to affirm the importance of a vibrant and healthy
downtown area to the City, at large.
Changes in ED & RD Area Boundaries
This 2004 Amendment will propose changing the boundaries of several of
the ED & RD Areas of the City of Carmel. In some cases, parcels will be
deleted from the ED/RD Area and in other cases, parcels will be added.
In each case, the boundary changes will be explained and shown by the
CRC for public review and input. The purpose of the boundary
adjustments will be to enable the CRC to capture new development-
based revenues, to encourage economic development or redevelopment,
and/or to enable the CRC to plan and implement various economic
development and redevelopment projects in and around the city.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
5
The ED Areas where boundary changes will occur are as follows:
Amendments to the boundaries of the Integrated 126th Street
Corridor ED Area to include new and potential development
opportunities within the ED Area.
Inclusion of the Pennsylvania South ED Area into the i 26t" Street
Tax Allocation Area.
Amendment to the Old Town ED Area, deleting certain parcels
from the ED Area, and designating a part of the Old town ED Area
as a tax allocation area.
Amendment to the City Center RD Area, to include parcels along
Rangeline Road which may require acquisition by the CRC in
order to facilitate further redevelopment of the general downtown
area.
Amendment to the North Illinois Street ED Area to include the C-
210 Annexation Area as part of the ED Area in order to facilitate
the funding of roadway improvements which are necessary as a
result of that annexation action (without including the C-210 area
in the tax allocation area).
A second Amendment to the Illinois Street ED Area to include
property along the west side of the US31 corridor in order to
facilitate the construction of the Illinois Street corridor as new
development occurs, and inclusion of this new territory in the tax
allocation area (with recognition of separate agreements relating
to development of the Clarion site).
Amendment to the Plum Creek/Hazel Dell Parkway ED Area
(a.k.a. Hazel Dell North ED Area) to include new and potential
development along the Hazel Dell road corridor, as far north as
146~h Street, as well as the designation of the amended ED Area
as a tax allocation area.
Amendment to the 96th Street/Hazel Dell Parkway ED Area (a.k.a.
Hazel Dell South ED Area) to include new and potential
development along the 96th Street corridor, and the designation of
the entire, amended ED Area as a tax allocation area.
Expanding the boundaries of the Old Meridian ED Area to affirm
the original intent of the CRC to include annexed territory, and
amending the project list in the ED Plan to include the CRC policy
that new economic growth in the Old Meridian area which
generates TIF revenues can be captured for the benefit of City
Center projects, including cultural and arts facilities, and
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
designation of the ED Area as a tax allocation area.
Changes in ED & RD Projects & Costs
This 2004 Amendment to the ED & RD Plans for the City also proposes
changes to the projects proposed for ED & RD Areas. Many of the
projects which were originally proposed have now been completed.
Other projects have been altered by the other development which has
occurred in the ED/RD Areas. In some cases, the scope, nature or cost
of the proposed projects has been altered in some manner, thereby
compelling the CRC to update their preparations.
Consideration of Other City/nitiatives
This 2004 Amendment will also consider the addition of new data,
planning material, and/or other studies which relate to the activities and
mission of the CRC. In the period since the previous update (2000), the
City has undertaken a number of initiatives, ranging from development of
an area plan for Old Meridian, to settlement of a dispute regarding the
northern section of the Illinois Street Corridor, to planning for
improvements to thoroughfares in the City Center Area, as well as
thoroughfares feeding traffic into the City Center Area.
The CRC will review these initiatives to determine their impact on the
mission of the CRC and any necessary adjustments to the CRC's
proposed project list. Where appropriate, the CRC will adjust its planning
to reflect these initiatives and their impact on the mission of the CRC.
Central Importance of City Center Projects
The CRC wishes to further state and emphasize that it believes that its
most singularly impodant mission is to secure the future economic health
of the older commercial areas of the city, especially the City Center Area.
While the CRC has many missions and initiatives throughout the City, it is
the express policy of the CRC that the CRC considers the final stage of
improvements to the City Center to be the most singularly critical to the
future of Carmel.
The City Center RD Area was designated for the express purpose of
redeveloping that area into the civic and cultural center of the City.
Those bold plans envisioned such things as a center for performing arts,
as well as other cultural, tourist, civic and community activities. From the
beginning, the City Center was to be a combination of high-density
housing, intense commercial development, and community-activity
venues. Those plans have not changed. In fact, they have become more
vibrant.
2004 Amendment to the Integrated Economic Development Plan
& Amended City CenterRedevelopmentPlan (2/10/04)
7
Members of the CRC as well as other community leaders have seen
other cities neglect their downtown areas to their own long-term chagrin.
Carmel is determined to avoid that mistake. It is a well-accepted axiom in
urban development that the central areas of a city are critical to its long-
term health. Because of these considerations, the CRC hereby
states that the City Center projects will be viewed as having the
highest priority and the most central importance of all projects in all
of the ED/RD Areas of Carmel
Introduction
The following introduction is offered as a means of"setting the stage," for
the actions recommended in this Integrated Economic Development Plan
(EDPIan). The 126th Street Economic Development Area is a critical area
for the future of Carmel. This area contains the City's primary
business/office/industrial development, and it represents a substantial
portion of the city's non-residential property tax base. As a result of its
importance, the 126th Street Economic Development Area (I 26th EDArea)
has received a great deal of development since the original action to create
the EDArea.
A Pathway of Self-Discovery
2004 Amendment: In 2003-04, the CRC re-assessed its progress to date,
as well as its evolving needs and expectations with regard to the
completion of projects for the City Center Redevelopment Area, as well
as other Economic Development Areas in the Integrated Plan.
The result of that re-assessment was the realization that the CRC had
accomplished a great deal in the first 6 years of its work. A number of
important public sector projects had been accomplished, such as
completion of the Monon Corridor, as well as other projects, with more
refinement of plans for other public sector projects. In addition, a
substantial amount of land had been acquired and re-sold into the private
sector, resulting in a dramatic change in the landscape of the City Center
area. New restaurants, retail stores, upscale high-density housing and
other new development had already occurred and more projects are
either under construction or in the planning stages.
But the issue that was most clear to even the casual observer was that
the City Center project was effectively functioning as a stimulus for new
development and redevelopment throughout the City's core area. In fact,
the economic activity since the CRC's original planning effort of 1997 has
shown to the entire community that the 'city's center' is actually much
larger than it was thought to be in 1997. Although the CRC designated a
small area near Rangeline Road and 126th Street as the City Center
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
8
Redevelopment Area in 1998, the CRC has learned that the actual
'center of the city' as it has evolved since that time, is an area which
effectively stretches from 116~h & Meridian, to 116t" & Keystone, north to
Carmel Drive, west to Rangeline Road, north to 131't, & Main and then
west to Meridian. The CRC has learned through its own experience that
the 'center of the city' for the 21s~ century is much, much larger than the
"old downtown" or the acreage around the Carmel Government Center.
The map will show that the 'city center' is an area which is every bit as
economically integrated as the CRC envisioned when it created its
"Integrated Economic Development Plan" - an area which has become
the economic engine of the City.
This 2004 effort to amend and update the Integrated Economic
Development Plan & Redevelopment Plan will serve to recognize the
accomplishments of the CRC and the City and then begin the planning
for further action to prepare Carmel for success in the 21't century. This
amended "2004" Integrated Economic Development Plan is intended to
serve as the platform for the CRC over the next 5 years, and beyond.
The CRC will take a series of steps to carefully examine each economic
development and redevelopment area, adjust their boundaries, goals and
projects, and then prepare to move forward with a single, unified plan for
unification of a much larger developmental vision.
Summary of Previous Actions
The following summary explains the motives and actions undertaken prior
to the development of this Plan. The summary will summarize the actions
previously taken by the Carmel Redeveloprhent Commission (CRDC) with
regard to the creation of economic development areas and redevelopment
areas in the central part of the city.
Please note that the following narrative does not address either the
Merchant's Square area or the economic development area(s) created to
support the financing for the Hazel Dell Parkway project, because these
projects are not integral to the economic development activity in the
central parts of the City.
In all, the CRDC created four economic development areas and a
redevelopment area, as well as amending the 126~h Street EDArea to
include more territory. Map #1 supports the following narrative.
THE OLD TOWN & 126TM STREET ECONOMIC DEVELOPMENT/IREAS:
The 126th Street Corridor Economic Development Area was created by
the Carmel Redevelopment Commission, with the affirmation of the Plan
Commission and City Council, during the summer of 1997. The
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
9
Economic Development Plan which documented the creation of the 126th
Street Corridor Economic Development Area was officially named the
"Economic Development Plan: Old Town/126~h Street Corridor
Economic Development Areas." It is clear from the title that the original
Economic Development Plan created two Economic Development Areas
simultaneously, each with its own documented findings and justification
through previous editions of the comprehensive plan.
The Old Town EDArea was formed for the purpose of supporting
streetscape and other improvements to the Old Town area of Carmel. This
area represents the oldest developments in Carmel, including the old
downtown area, adjacent to the intersection of 131st Street and Rangeline
Road, which was once the developmental center of Carmel. The Old
Town EDArea was not contiguous with the 126th Street EDArea.
The 126th Street EDArea was formed to support the extension of the 126th
Street corridor from Rangeline Road, westward into the Science &
Technology Park. By completing the 126th Street corridor in this manner,
the city consolidated its thoroughfare system such that the Science &
Technology Park and the US31 corridor were more efficiently linked with
the City Center area..
At the time these areas were created, the primary financing for the
proposed improvements was provided by a COIT-based Redevelopment
Authority bond, and no action was taken to. create/designate a tax
allocation area for TIF purposes.
2004 Amendment regarding Old Town: The first action of the CRC in this
renewed planning effort will be to recognize the fact that the Old Town
ED Area - which was originally conceived for the purpose of revitalizing
the infrastructure of the old downtown of the original 'town of Carmel' - is
developmentally linked to the City Center. No project can realistically
take place at the City Center without affecting the Old Town and 126t"
Street ED Areas. Therefore, the CRC must accept and advance the
notion that parts of the Old Town ED Area must be redeveloped, just as
was done in the City Center RD Area.
As the first step toward that recognition, it is being recommended that the
CRC remove a portion of the QId Town ED Area in order that this same
territory can be added to the City Center RD Area for land acquisition and
redevelopment purposes. It is suggested that the CRC consider
acquiring land inside this area in order to accomplish its goals for
redevelopment and economic development within the larger 'center of the
city' which people are beginning to understand.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
10
In addition, it is recommended that the CRC designate the AMLI
development, near 3r~ Avenue SW and Main Street, as a tax allocation
area within Old Town, in order to capture property tax increment from
these new developments.
In addition, the ED Plan is hereby formally amended to state that it is the
policy of the CRC that arts and cultural projects within the City Center RD
Area are considered to directly benefit the Old Town ED Area.
PENNSYLVANIA ST. NORTH & SOUTH ECONOMIC DEVELOPMENT~4REAS:
At the same time as the 126~h St. EDArea was created, the Carmel
Redevelopment Commission (CF, DC) also approved the creation of the
Pennsylvania Street North Economic Development Area (Penn North) and
the Pennsylvania Street South Economic Development Area (Penn South).
The purpose of creating these two areas was to support the widening of the
Pennsylvania Street corridor in order to: handle greater traffic flow; to
serve new development which would occur once the corridor was
complete; and to accommodate the long term development of a limited
access freeway facility along US31. In thc long term scenario, the
improved Pennsylvania Street corridor would provide thoroughfare service
to the east side of the US31 corridor, while a similar corridor would be
developed on the west side of US31 to provide access on that side. It was
necessary to create two, separate EDArcas because a portion of thc
corridor had not been incorporated into the City of Carmel.
The Pennsylvania Street EDAreas were not qfficially designated as tax
allocation areas for the purpose of TIF financing support. The
improvements to the Pennsylvania Street corridor were to be undertaken
using the same COIT-based Redevelopment Authority bonds that were
used for the 126th Street project, and Hazel Dell Road.
2004 Amendment: The Pennsylvania corridor now possesses a much
clearer and more important function, due to the clear presentation of
INDOT's plans to make US31 into a freeway design. When the CRC
originally created the ED Areas that supported the Pennsylvania Corridor,
the prospect of a freeway for US31 was considered long-term conjecture.
But with the public release of the DEIS for the US31 upgrade, it is clear
that the CRC's actions of 1998 and 2000 were visionary. It is Camrle's
developmental goals that, on the first day of construction of a US31
freeway, the City of Carmel will be fully prepared to make its
transportation system function efficiently, due largely to its planning and
provision of service corridors at Pennsylvania and Illinois Streets.
Therefore, for 2004, the CRC will include the entire Pennsylvania Corridor
(including a previously un-designated area near Old Meridian), as well as
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
11
5 other tracts contiguous with the ED Area, into the Integrated 126th
Street ED Area, as well as the tax allocation area. In addition, it is
recommended that the amended boundaries also include all other
undeveloped and under-developed parcels along the Penn Corridor in
order to optimize TIF revenue capture as new development occurs.
In addition, the ED Plan is hereby formally amended to state that it is the
policy of the CRC that arts and cultural projects within the City Center RD
Area are considered to directly benefit the Pennsylvania North & South
ED Areas.
~4MENDED 126TM STREET ECONOMIC DEVELOPMENT~4REA:
The amended EDPlan for the 126th Street corridor dealt solely with the
portion of the original Economic Development Plan (EDPIan) pertaining
to the 126th Street Corridor. No portion of thc Old Town Economic
Development Area or Economic Development Plan was amended by that
effort. The amendment action significantly enlarged the 126t" Street
Economic Development Area (I 26~h EDArca) to the west, bringing most of
the Science & Technology Park into the EDArca. As a result of that
amendment action, as shown in Map # 1, the 120;h Street EDArca abutted
thc Pennsylvania Street North & Pennsylvania Street South EDAreas.
At the same time, the portion of the 126th Street EDArea surrounding the
government complex was deleted from the EDArea for the purpose of
creating a redevelopment area under Indiana law (see Map #1 .)
The amendments to the 126t~ Street EDArea were undertaken to enable the
City to support the City Center project which was proposed and approved
by the City to be implemented along the west side of Rangeline Road,
south of 126t~ Street, and north of the government complex. The financing
was to support the first phases (primarily land acquisition) of the City
Center project, and the financial plan was to issue Redevelopment
Commission/Authority bonds based on COIT revenues. The City also
designated the 126th Street Economic Development Area, as amended, as a
tax allocation area for TIF purposes. Incremental tax revenues from the
allocation area would provide a revenue source which would be used to
offset the payments from COIT.
2004 Amendment: The 126th Street ED Area is also recommended for
boundary adjustment to capture some small, new developments which
have occurred on the fringe of the ED Area. Since the CRC's original
actions in 1997, the 126t~ Street ED Area has grown substantially, and it
is time for the CRC to add new parcels to the ED Area in order to
stimulate and capture future economic growth.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
12
In addition, the ED Plan is hereby formally amended to state that it is the
policy of the CRC that arts and cultural projects within the City Center RD
Area are considered to directly benefit the 126~h Street ED Area.
THE CITY CENTER REDEVELOPMENT AREA:
The City Center Redevelopment Area was created to directly support the
development of the City Center project. The City Center project is a
multi-faceted proposal to include a mix of moderate to high-intensity
commercial, retail, office, public and other space. The project was capable
of accommodating such things as museums, performing arts, retail, office,
residential and other types of development, and the long term intent was
for the City Center project to identify and anchor this area as the business
hub of the city, and to protect the Iong economic term viability of the area.
The results of this action are also shown on Map #1.
The City Center Redevelopment Area was also designated as a tax
allocation area for TIF purposes. The primary financing for the initial
phases of the City Center project was to come from a COlT bond, issued
by the Redevelopment Commission/Authority. In this financing
arrangement, the revenue source for repaying the bonds was COIT, while
incremental tax revenue from the allocation area would provide a revenue
source which would be used to offset the COIT cash flow.
2004 Amendment: In 2004, the City and the Redevelopment
Commission re-assessed the situation with regard to the integrated ED
Area, as well as the City Center Redevelopment Area, and the projects
related thereto. From the original creation of the City Center RD Area in
1998, through the amendments of 2000, and on through the current
situation (2004), the Carmel Redevelopment Commission has
accomplished many of the projects on the original agenda.
In the 2000 amendment documentation, there was a breakdown of
projects presented for approval at that time, and estimated costs. The
table below attempts to identify an updated list of projects with estimated
costs.
project Minimum Maximum
Estimate Estimate
Performing Arts Center $35,000,000 $45,000,000
Art Museum $15,000,000 $20,000,000
Land Acquisition for Old Town Redevelopment $3,000,000 $5,000,000
Street Department Maintenance Facility $1,500,000 $2,000,000
Land Acquisition Along Rangeline Road $1,800,000 $2,000,000
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
13
City Center/Old Town Roadway Improvements
Total Estimated Costs
$5,000,000 $10,000,000
$61,300,000 $84,000,000
As of 2004, the Street Department Maintenance Facility has been
relocated to another site, which is under construction. In addition, the
Redevelopment Commission has acquired several parcels in pursuit of
the individual projects under the City Center redevelopment umbrella, and
has successfully redeveloped, or has supported the redevelopment of,
several major parcels under private sector investment. To put the matter
simply, the City Center Redevelopment Area looks very different today
than it did in 1998. The CRC has made significant progress in
revitalizing the City Center Redevelopment Area.
Therefore, when the CRC reviewed its progress and charted its course
for moving forward in 2004, the City re-assessed the progress on the
original project list - noting both the projects completed and the ones not
completed - as well as adding new projects which are intended to
address the evolving needs of a growing and vital City Center
Redevelopment Area.
INITIAL FINANCIAL RESUL TS IN TItE REDEVELOPMENT A REA:
The COIT bond which was issued to support the City Center
Redevelopment Area and its activities resulted in the acquisition of several
parcels of land north of the Government Center, along the 126th Street
corridor. Those parcels were fundamentally undeveloped prior to the
creation of the RDArea. As a result of the acquisition and redevelopment
of these parcels, however, the Redevelopmerlt Commission realized a
substantial developmental windfall.
The AMLI development was recruited into the RDArea by virtue of the
acquisition of land by the Carmel RDC. The RDC assembled the land and
advertised for development proposals for this property, and as a result of
that effort, the community realized a direct cash benefit of some $4 million
for the purchase of the land, as well as the developmental benefits
associated with future property tax increment. Please note that these
parcels were previously undeveloped, despite their prime location,
therefore, the ability of the RDC to recruit suitable development in
conjunction with the City Center Redevelopment Plan was a major overall
benefit to the community.
2004 Amendment: In the years between 1997 and 2002, the CRC's
actions in the City Center RD area substantially reduced the incremental
assessed value in the RD Area. This reduction was a necessary first
step in order to achieve the economic growth which was originally
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
14
envisioned. However, it is anticipated that, sometime in the 2004-2005
time period, the CRC's tax increment scenario in the City Center RD Area
will be reversed, and the City Center RD Area will become a major new
source of incremental assessed value. As this emergence takes place,
the CRC will be in a much better position to implement the last of its
agenda for creating significant new public spaces within the City of
Carmel's 'center' area, which are expected to serve as the rallying point
of the City for the next century.
Other 2004 Amendments
In addition to the amendments inserted into specific sections of the 2000
Integrated ED Plan, this 2004 Amendment adds the following sections.
HAZEL DELL NORTH (PLUM CREEK) & HAZEL DELL SOUTII (96TH STREET) ED
AREAS:
This 2004 Amendment hereby amends the Hazel Dell North (a.k.a the
Plum Creek ED Area) & Hazel Dell South (a.k.a. 96t" Street) ED Plans to
state that it is the policy of the CRC that arts and cultural projects within
the City Center RD Area are considered to directly benefit the Hazel Dell
North & South ED Areas. In addition, these two ED Areas are also to be
designated as tax allocation areas.
The boundaries of the Hazel Dell North (Plum Creek) ED Area are hereby
amended to include the right of way of Hazel Dell Road, north of the
existing ED Area as far north as 146th Street, as well as the undeveloped
parcels located at the southwest quadrant of the intersection of 146t" &
Hazel Dell. The project list for Hazel Dell North is also hereby amended
to include potential investment of TIF revenues for intersection
improvements at the entrances of new developments along 146th Street,
at an estimated cost of $500,000 to $750,000.
The boundaries of the Hazel Dell South ED Area are also amended to
include parcels on the north side of the 96t" Street corridor, from the
existing ED Area, to include parcels as far west as the new Sipe Jeweler
development (west of Keystone). In addition, the boundaries of the Hazel
Dell South ED Area are also amended to include new commercial and
apartment development north of the existing ED Area, along Gray Road.
Similarly, the project list for the Hazel Dell South ED Plan is hereby
amended to include potential investment of TIF revenues in the
improvement of infrastructure (primarily roadways) along 96th Street to
increase the efficiency of traffic movement entering and leaving the 96t"
Street corridor. Although such projects have not been precisely defined
at this time, it is estimated that the TIF portion of such projects could cost
between $600,000 and $1 million.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
15
NORTH ILLINOIS STREET ED ARE.4: AMENDMENT TO INCLUDE ANNEXED
TERRITORY
The North Illinois Street ED Area was designated by the CRC in
February, 2002, for the purpose of capturing TIF revenues to supped
construction of the northern sections of the Illinois Street Corridor. In that
ED Plan, the CRC noted that certain portions of the area designated were
not within the incorporated limits of the City of Carmel, and therefore,
could not be designated as part of the ED Area until the annexation
process was complete. In addition, the entire ED Area, as amended, is to
be designated as a tax allocation area.
In the ensuing time period, these unincorporated areas have been
annexed by the City of Carmel, therefore, the CRC hereby amends the
ED Plan to reflect the boundaries originally covered in the Plan (but not
included in the official designation), which can now be officially added to
the ED Area due to annexation.
NORTH ILLINOIS STREET ED AREA: C-210 AMENDMENT
In 2003, the CRC was asked to assist in the effort to improve major
roadway corridors in the C-210 annexation area by amending the
boundaries of the North Illinois Street ED Area to include the C-210
annexation area. This process was initiated by the CRC in September,
2003, and was approved by the Plan Commission. This 2004
Amendment to the Integrated ED Plan hereby re-affirms the previous
actions of the CRC with regard to the C-210 annexation area, and the C-
210 ED Plan, as well as the project list that was approved at the time of
the original (2003) action.
Nonrii ILLINOIS StREEt ED ARE/i: CHANGES TO ADD THE ILLINOIS CORRIDOR
Amending boundaries to include the full corridor: This 2004
Amendment to the Integrated ED Plan also includes changes to the
boundaries of the North Illinois Street ED Area to include territory
necessary to develop and construct the Illinois Street Corridor, from 136TM
Street southward to 103rd Street (see map). The original ED Plan (2002)
went to some lengths to explain that the "North Illinois Street" designation
was the first phase of what was expected to be an ED Area designation
for the entire Illinois Street corridor, as proposed here. The entire Illinois
Street Corridor ED Area will also be designated as a tax allocation area
(not including the C-210 amended area).
Amending the Name of the ED Area: This 2004 Amendment,
therefore, also amends the name of the ED Area to the ";,'o~h Illinois
Street ED Area" (deleting the word "north"), to more accurately represent
the full ED Area designation.
Amendment to include support for City Center: This 2004
Amendment hereby amends the North Illinois Street ED Plan (now
referred to as the Illinois Street ED Plan) to state that it is the policy of the
2004 Amendment to the Integrated Economic Development Plan
16
Amended City Center Redevelopment Plan (2/10/04)
CRC that arts and cultural projects within the City Center RD Area are
considered to directly benefit the Illinois Street ED Areas.
Amendment to the ED Plan Project List: The project list contained in
the original ED Plan is also amended to include the cost of construction
of the Illinois Street corridor, from 131't Street, south to 103"~. The
estimated cost of constructing this corridor will vary widely, depending
upon the amount of developer/private funding (related to development of
sections of the corridor), the amount of state/federal funding available
(due to the US31 freeway project), and the amount of TIF revenue
generated by new development within the amended boundaries (TIF
expenditures will be limited by TIF revenues). Due to the variables cited,
the estimated cost of constructing the Illinois Street corridor could range
from $2 million to $10 million, depending upon the interrelated actions of
project variables. This project is added in addition to the potential
support which might be extended to the City Center arts and culture
projects, as explained in a separate section, above.
Recognition of the Clarion Agreements: It is the CRC's intent that this
ED Plan in no way alters the specific agreements between Clarion and
the City for development of the Clarion site at 116thb Street. The clarion
site development was undertaken with recognition that the Illinois corridor
would be constructed, and separate legal and financial agreements were
made with respect to the Clarion development that this ED Plan does not
supercede.
OLD MERIDIAN ED PLANAMENDMENT$
This 2004 Amendment hereby amends the Old Meridian ED Plan to state
that it is the policy of the CRC that arts and cultural projects within the
City Center RD Area are considered to directly benefit the Hazel Dell
North & South ED Areas.
Beyond the inclusion of the potential for using TIF generated in the Old
Meridian ED Area in the City Center (for arts and cultural projects), the
Old Meridian ED Area boundaries are amended to include the previously-
unincorporated areas identified in the ED Plan and cited as being
necessary to include in the ED Area, once the annexation of these areas
is complete, and the entire ED Area is to be designated as a tax
allocation area.
Purpose of this (2000) Amendment Action
The purpose of this amendment to the 126th Street Corridor Economic
Development Plan is to clarify and coordinate all of the previous actions
into a single, integrated plan. Map #I shows all of the previous economic
development and redevelopment areas created to support the efficient and
effective development of the central part of the City of Carmel. The
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2./10/04)
17
purpose of this Amendment Action (Amendment #2) is to present the
public and the various city agencies and elected officials with a single,
integrated plan that shows what has happened within these ED Areas and
also shows what is proposed to happen over the next 10-20 years.
2004 Amendment: The purpose of this 2004 amendment is to clearly and
publicly measure the progress which the City and the CRC has made
toward its original goals of 1998, and to set forth the framework for the
projects which are intended to address the future of the City.
PROPOSED ACTIONS:
This Amendment #2: Integrated Economic Development Plan undertakes
the following specific activities (see Map #2):
To consolidate three (3) of the economic development areas within the
central part of the City into a single, integrated economic development
area, as follows:
Pennsylvania Street South Economic Development Area;
Pennsylvania Street North Economic Development Area; &
126th Street Economic Development Area, as amended.
To extend the boundaries of the Integrated Economic Development
Area to include new development which has taken place in the vicinity.
To designate as a tax allocation area that portion of the Integrated
Economic Development Area not currently designated as a tax
allocation area, as a means of providing future financing opportunities to
stimulate desirable economic development in the integrated area. (See
Map #2.)
2004 Amendment: The 2004 amendment to the Integrated ED Plan
proposes to undertake the following specific actions:
To remove a small area along Rangeline Road from the Old Town
ED Area and to include that same area in the City Center RD Area
for purposes of achieving new redevelopment in the City's core
area.
To add additional portions of the Pennsylvania Street corridor into
the Integrated ED Area in support of both the City Center
redevelopment vision and the US31 freeway project.
To add new parcels to the 126t" Street ED Area in order to enable
the ED Area to continue its growth.
To amend and expand the North Illinois Street ED Area into the
"Illinois Corridor ED Area" in support of the US31 project, and in
support of further construction of the Illinois Street corridor, and to
designate the ED Area as a tax allocation area.
To designate an additional Tax Allocation Area in the Old Town
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
18
ED Area in order to capture additional properly tax increment in
support of the next phases of the City Center projects.
To reconsider and expand the Hazel Dell South and the Plum
Creek (Hazel Dell North) ED Areas in order to capture existing
and future TIF, and to designate these areas as tax allocation
areas.
To affirm the CRC policy that the CRC considers economic
growth in all ED & RD Areas to be directly related to the health of
the City Center Area, and therefore, that arts and cultural projects
generated within the City Center RD Area are considered by the
CRC to "directly benefit" the other ED Areas of the City.
PURPOSE OF THE PROPOSED ACTIONS:
The Economic Development Areas are being consolidated and amended
for several reasons:
To clarify and simplify the economic development scenario related
to the ultimate development of the central portion of the City.
To extend the tax allocation area of the City for the purpose of
potentially supporting additional phases of the City Center project.
Now that the land acquisition has been complete, the 126 th Street
corridor is functional, the City has been presented with new
development opportunities related to the City Center project.
To increase the capacity for tax increment financing in support of
economic development opportunities in the integrated area.
To set the stage for specific consideration of additional financing
strategies for projects related to the central area of the community.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
19
Statement of Policy & Amendments
The purpose of the Integrated EDPIan is to provide the city's leadership
with a single, organized planning document from which to base futura
economic development policy decisions. As will be explained below,
much of this Integrated EDPIan is simply a consolidation and re-statement
of the original body of multiple economic development plans and
redevelopment plans. In addition to that re-statement, however, the
Integrated EDPlan officially extends the individual existing plans, in part
as follows.
Interconnected Benefits
The 126~h Street Economic Development Plan (as amended), the Old Town
Economic Development Plan, the Pennsylvania Street North & South
Economic Development Plans, and the City Center Redevelopment Plan
have been developed as an interconnected network of planning documents
relating to the long term development of the business core of the City of
Carmel. These plans were originally conceived as integrated documents,
each with a specific contribution to the overall development pattern of this
core area. Originally, however, it was impossible to predict how quickly
the developmental elements would come together.
DEVELOPMENTAL CHARACTER:
The development of the Pennsylvania Street corridor is integral to the long
term plan to develop the US31 corridor into a limited access, freeway
corridor. Ultimately, the improved Pennsylvania corridor will be paired
with an improved corridor west of US31 to provide local access to
important developments along the US31 corridor, thus allowing US31 to
be re-designed as a freeway.
The Old Town area is projected to be redeveloped as an intense urban core
containing the historical origins of the City. This area will ultimately
reflect the city's historic character and will be linked to the commercial
core of the city through the Science & Technology Park, as well as the
Carmel Drive commercial area.
The 126th Street EDArea will represent Carmel's development as an
upscale business center, containing some of the region's most successful
high-technology business interests. This area was once defined by the
Carmel Industrial Park, which was severely limited in its developmental
2004 Amendment to the Integrated Economic Development Plan
& Amended City CenterRedevelopmentPlan (2/10/04)
2O
capacity. Through the development of a greater vision, however, the
original Industrial Park was expanded and its developmental profile
substantially elevated to include the attraction of business headquarter
operations, as well as high profile national offices and high-rise office and
conference complexes. This area represents the city's highest profile
business core.
The City Center Redevelopment Area was conceived as the cultural center
of the community. Although Carmel has grown as an upscale suburban
community, the City Center concept was developed as a place where the
best of the community was anchored in defining the future character of the
community. The City Center proposal included arts and cultural facilities,
substantial public spaces, improved thoroughfare access, and increased
visibility of the community's core.
INTERCONNECTING SERVICES AND BENEFITS:
Due to the developmental character issues discussed above, the original
planning efforts, including the economic development plans and
redevelopment plans for the various areas, it was determined that services
and benefits resulting from projects in one area directly interconnected
with benefits from projects in the other areas. Improvements to the 126th
Street corridor would directly serve and benefit Old Town by increasing
thoroughfare access to the historic downtown. Cultural facilities in the
City Center would directly serve and benefit old downtown merchants by
increasing popular access to their businesses. Having greater cultural
traffic in the City Center would also improve ihe visibility of the Science
& Technology Park, and thereby directly serve and benefit that area..
Improvements to the Pennsylvania St. corridor would generally increase
access to the business core of the community, and thereby directly serve
and benefit that area.
In short, each of these separate planning efforts contributed incrementally
to the developmental character of the others. Success in one area
facilitated success in the other areas. Completion of one project made it
easier to complete the next. For these reasons, the Integrated EDPlan
hereby specifically and formally finds and determines that services and
benefits of theses plans and projects are mutually interconnected, with
each directly serving and benefitting the others. All of the projects in the
Integrated EDPIan are considered to be functionally and developmentally
linked toward the ultimate execution of the long term development plan
for the City of Carmel in the defined areas.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
21
Amendment to the Old Town EDP/an
The Old Town Economic Development Plan (EDPlan) is hereby formally
amended to include support for various public private redevelopment
efforts within the Old Town EDArea. This includes various proposals to
redevelop certain portions of the area.
Since the EDArea retains no authority for eminent domain, there is no
proposed land acquisition through eminent domain, however, it may be
appropriate for the city to participate in the purchase of various parcels of
real estate in conjunction with certain redevelopment proposals. It is
important to note, however, that the City should exercise caution in the
process of purchasing land so as to assure the public that due process was
carefully followed and that the public interest was served at all times.
Therefore, the Old Town EDPlan is hereby amended to include
appropriately negotiated land acquisition in support of public-private
redevelopment proposals which meet the developmental parameters of the
long term development plans of the community. In such cases where the
process is appropriately followed, it is therefore determined that the
services and benefits of such projects to the Old Town EDArea also accrue
equally and directly to the service and benefit of the amended and
consolidated 126th Street EDArea and the City Center Redevelopment
Area.
2004 Amendment: The Old Town ED Area was originally very simple in
its concept - to revitalize the infrastructure of the Old Town area, by
adding new street lights, new sidewalks, streets, curbs, gutters and street
furniture. Those goals have been achieved. However, the comoined
impact of these improvements, as well as the rippling impact of the City
Center projects achieved within the private sector, have stimulated the
need to consider establishing a tax allocation area near Main Street and
1'~ Avenue SW in order to capture additional tax increment from new
development in that area. In addition, it has become necessary to
recommend that several parcels be acquired by the CRC in order to
implement further redevelopment projects in the neighborhood.
Amendment to the City Center Redevelopment Plan
The City Center Redevelopment Plan comprehensively incorporated the
proposals of the City Center project, including the development of both
public and private sector facilities, as well as open spaces and other
developments to increase the public visibility of the RDArea, including the
government center. Since the City Center Redevelopment Area was
defined by a Redevelopment Plan, the CRDC retains the power of eminent
2004 Amendment to the Integrated Economic Development Plan
22
& Amended City Center Redevelopment Plan (2/10/04)
domain in the City Center RDArea, which can be exercised cooperatively
with the City of Carmel, depending upon the ultimate use of the land
acquired. Therefore, the City Center RDPIan is officially amended to
include such land acquisition as was originally envisioned in support of
the implementation of the City Center project, including parcels fronting
on Rangeline Road.
Therefore, the City Center Redevelopment Plan (RDPIan) is hereby
amended to include land acquisition, possibly including eminent domain
actions, in support of the City Center Redevelopment proposals which
were previously made a part of the RDPIan. Such land acquisition, either
through eminent domain or negotiated purchase, should meet the
developmental parameters of the long term development plans of the
community. In such cases where the process is appropriately followed, it
is therefore determined that the services and benefits of such projects to
the City Center Redevelopment Ama also accrue equally and directly to
the service and benefit of the amended and consolidated 126th Street
EDArea, and the Old Town EDArea.
2004 Amendment: the City Center RD Plan is hereby fudher amended to
include an area along Rangeline Road with two nodes for redevelopment.
The first node is located in the southeast quadrant of the intersection of
Rangleine & Main Street, and the second node is located along
Rangeline, south of 1'~ Street SW. Parcels within these nodes are to be
included on the list of parcels to be acquired and may be acquired
through either negotiated purchase or emin ~ent domain by the CRC in
order for the CRC to achieve its redevelopment goals.
In addition, the RD Plan will add new projects to its project list, as follows:
Storage/restroom building on Monon Trail $300,000 $500,000
Veteran's Memorial $75,000 $125,000
South Veteran's Way Roundabout $900,000 $1,000,000
East-west Retail Boulevard $500,000 $600,000
Repairs, renovation, remodeling of Public Spaces $175,000 $225,000
Infrastructure redevelopment, utility burial $650,000 $750,000
construction of the South Tower $400,000 $500,000
Total Designated Areas
The following table summarizes the previous actions of the Carmel
2004 Amendment to the Integrated Economic Development Plan
& Amended City CenterRedevelopmentPlan (2/10/04)
23
Redevelopment Commission with respect to the creation of economic
development and redevelopment areas, as well as amendments thereto.
Area Name odginal total
acreage acreage
126~ Street Economic Development Area 278 278
(less) City Center Redevelopment Area (112) 166
126th Street Economic Development Area (amended) 378 544
Pennsylvania St. North Economic Development Area 41 585
Pennsylvania St. South Economic Development Area 130 715
Old Town Economic Development Area 322 1037
Acres Recommended for Addition 110 1147
Impact of Future Actions
This Integrated EDPlan is to be submitted to the Carmel Redevelopment
Commission (CRDC) for approval. After receiving such approval, the
Integrated EDPlan must then receive approval from the City Council. It is,
therefore, important that the various agencies, bodies, elected officials and
the general public understand the limitations which are imposed on
subsequent decisions and actions by these various agencies and bodies.
The vast bulk of all of the geographic area cdntained in the Integrated
Economic Development Area is already within a designated economic
development area. The actions proposed within this Integrated EDPlan in
no way negate any previous action, but rather build upon those previous
actions. Therefore, this Integrated EDPlan is undertaken with the
understanding that future actions are cumulative.
Any agency or governing body with authority over the decisions to be
undertaken as a result of this Integrated EDPlan, therefore, should
understand that such actions do not negate the previous legal actions of the
CRDC or the City of Carmel. This is especially true of any actions which
resulted in the issuance of public debt to support the proposed economic
development activities.
Since all previous actions remain in place, the impact which this future
action has on the economic development planning of the city is as follows:
To integrate the three designated economic development areas (126~"
Street (as amended), Pennsylvania Street South, & Pennsylvania Street
2004 Amendment to the Integrated Economic Development Plan
24
& Amended City Center Redevelopment Plan (2/10/04)
North) into a single economic development area, as presented above;
To amend the Integrated EDArea to include new areas which are being
developed (see Map #2):
To designate the entire Integrated EDArea subject to certain exceptions,
including the new developments, as a tax allocation area (see Map #3);
To present projects which might be anticipated as part of the Economic
Development Strategy for the Integrated EDArea for the potential of
public financing and/or financial incentives.
2004 Amendment: The 2004 Integrated ED Plan and Amended City
Center Redevelopment Plan will be placed before the public in
accordance with statutory requirements.
Description of the (2000) Integrated EDArea
The description of the boundaries of the Integrated 126th Street Economic
Development Area is based on the aerial parcel maps provided by the
Hamilton County Auditor's office on December 15, 1997 (aerial
photography dated April, 1994), as follows:
Beginning at the point of intersection of the north right of way of Adams
Street with the western boundary of Parcel No. 005 on Map No. 09-36-
00, and extending southwesterly and westerly along the north right of
way line of Adams Street to its point of intersection with the western
right of way line of Guilford Road;
Thence north along the western right of way line of Guilford Road to the
northeast corner of Parcel No. 007 of Map No. 09-36-00;
Thence west along the northern boundaries of Parcel Numbers 007,
007.001 and 002, to the point of intersection with the north right of way
line of Carmel Drive;
Thence northwesterly along the north right of way line of Carmel Drive
to the point of intersection with the southeast corner of Parcel No.
029.001 on Map 09-26-00 (Shepherd Insurance);
Thence north along the eastern boundary or Parcel No. 029.001 on Map
No. 09-26-00 to the northwest corner of Parcel No. 001 of Map 09-26-
00, (Arbors of Carmel)
Thence east along the northern boundary of Parcel No. 001 on Map No.
09-26-00 to the southeast corner of Parcel No. 013 on Map No. 09-26-
00,
Thence north along the eastern boundary of Parcel No. 013 on Map No.
09-26-00, to the northeast corner of said Parcel No. 013, (proposed
2004 Amendment to the Integrated Economic Development Plan
25
& Amended City Center Redevelopment Plan (2/10/04)
Buckingham development)
Thence west along the northern boundary of said Parcel No. 013 to the
southeast corner of Parcel No. 016 on Map No. 09-26-00,
Thence north along the eastern boundary of said Parcel No. 016 to the
nodheast corner of said Parcel No. 016,
Thence west along the northern boundary of said Parcel No. 016 to the
point of intersection with the southeast right of way line of Old Meridian
Street,
Thence west, across Old Meridian Street, to the northwest right of way
line of Old Meridian Street,
Thence due west, across Parcel No. 1609260000015000 (Meijer) to the
point of intersection with the eastern right of way line of Pennsylvania
Street, (the Pennsylvania Corridor EDArea)
Thence north, along the eastern right of way line of Pennsylvania Street
to the point of intersection with the south right of way line of 131 s~ Street
(Main Street),
Thence west, along the south right of way line of 131 s~ Street to the point
of intersection with the eastern right of way line of US31,
Thence south, along the eastern right of way line of US31to the point of
intersection with the north right of way line of 126 th Street,
Thence west along the north right of way line of 126 ~h Street, across
US31, to the point of intersection with the west right of way line of US31,
Thence north along the west right of way line of US$1 to the point of
intersection with the south right of way line of 131 "~ Street,
Thence west along the south right of way line of 131 s~ Street to the point
of intersection with the east right of way line of Meridian Corners
Boulevard,
Thence south along the east right of way line of Meridian Corners
Boulevard to the point of intersection with the northwest corner of Parcel
No. 017.003 shown on Map No. 09-26-00,
Thence east along the northern boundary of said Parcel No. 017.003 to
the northeast corner of said Parcel No. 017.003, which is also the point
of intersection with the western boundary of Parcel No. 016001 on Map
No. 09-26-00, (Hamilton Crossing West development)
Thence south along the western boundary of said Parcel No. 016.001 to
the point of intersection with the northern right of way line of West 126 ,h
Street,
Thence south across West 126 th Street to the point of intersection with
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
the south right of way line of West 126 th Street,
Thence east along the south right of way line of West 126 th Street to the
point of intersection with the west right of way line of US31,
Thence east across US31 to the point of intersection with the eastern
right of way line of US31,
Thence south along the eastern right of way line of US31 to the point of
intersection with the southern boundary of Parcel No. 010 on Map No.
09-35-00, (Hamilton Crossing East (Duke) development)
Thence east along the southern boundary of said Parcel No. 010 to the
southeast corner of said Parcel No. 010 on Map No. 09-35-00,
Thence northeast, across Pennsylvania Street to the point of
intersection with the eastern right of way line of Pennsylvania Street,
Thence north along the eastern right of way line of Pennsylvania Street
to the point of intersection with the southern right of way line of 126 th
Street,
Thence east along the southern right of way line of 126 th Street to the
point of intersection with the southeastern right of way line of Old
Meridian Street (Old US31),
Thence southwesterly along the southeastern right of way line of Old
U.S. Hwy 31 to the point of intersection with the northern boundary of
Pamel No. 027 (Map No. 09-35-00) to the northeast corner of said
parcel;
Thence south along the eastern boundaries of Parcel Numbers 027,
026, 025, 024,022, and 021 to the southeast corner of Parcel No. 021
(Map No. 09-35-00);
Thence east along the southern boundary of Parcel No. 021 to the point
of intersection with the eastern right of way line of Pennsylvania Street;
Thence due west, across Pennsylvania Street, to the point of
intersection with the western right of way line of Pennsylvania Street;
Thence south along the western right of way line of Pennsylvania Street
to the point of intersection with the northeast corner of Parcel No.
037.000 on Map No. 09-35-00,
Thence west along the northern boundary of said Parcel No. 037.000 to
the point of intersection with the eastern right of way line of US31;
(Pennsylvania South EDArea)
Thence south along the eastern right of way line of US31 to the point of
intersection with the center line of 116 ~h Street;
Thence east along the center line of 116th Street to the point of
2004 Amendment to the Integrated Economic Development Plan
27
& Amended City Center Redevelopment Plan (2/10/04)
intersection with the western boundary of Pamel No. 059 (Map No. 09-
36-00);
Thence north along the western boundary of Parcel Numbers 059 and
060 to the northwest corner of Pamel No. 060;
Thence east along the northern boundary of Pame1060 to the northeast
corner of Pamel No. 060;
Thence north along the eastern boundary of Parcel Numbers 002, 004,
and 003 (as shown on Map No. 09-36-00) to the northeast corner of
Parcel No. 003;
Thence east along the southern boundary of Parcel Numbers 003 and
005 to the interior southwest corner of Parcel No. 005;
Thence south along the southwest boundary of Pamel No. 005 and
continuing south along the western boundary of Parcel Numbers
004.005, 004 and 004.004 to the southwest corner of Parcel No.
004.004;
Thence east along the southern boundary of Parcel 004.004 to the
southeast corner of said parcel;
Thence north along the eastern boundary of Parcel Numbers 004.004,
004.003,004.101, and 004.001 to the point of intersection with the south
right of way line of Carmel Drive;
Thence east along the south right of way line of Carmel Drive, across
Rangeline Road to the eastern right of way line of Rangeline Road;
Thence north along the eastern right of way line of Rangeline Road to
the south right of way tine of Executive Drive, as shown on Map No. 10-
31-00;
Thence east along the south right of way line of Executive Drive, as
shown on Map No. 10-31-00, to the northwest corner of Parcel No. 006,
as shown on said map;
Thence south along the western boundary of Parcel No. 006 to the
southwest corner of said parcel;
Thence eastward, northward and eastward along the southern boundary
of Parcel No. 006, as shown on Map No. 10-31-00, to the southeast
corner of Parcel No. 006, thence eastward across the right of way of
Executive Drive to the southwest corner of Parcel No. 001 (Centerpoint
Section 2-A);
Thence eastward along the southern boundary of Parcel No. 001 of
Centerpoint Section 2-A, as shown on Map No. 10-31-00 to the
southeast corner of said parcel;
Thence northward along the eastern boundary of Parcel No. 001 to the
2004 Amendment to the Integrated Economic Development Plan 28
& Amended City Center Redevelopment Plan (2/I0/04)
northeast corner of said parcel;
Thence westward along the northern boundary of Parcel No. 001, to the
northeast corner of Parcel No. 003 (Centerpoint Section 2), thence
westward along the northern boundaries of Centerpoint Section 2,
Parcel Numbers 003, 002 and 001;
Thence west along the northern boundary of Pamel No. 001 of
Centerpoint Section as shown on Map No. 10-31-00, to the point of
intersection with the center line of Rangeline Road;
Thence north along the center line of Rangeline Road to the point of
intersection with the northern boundary of Parcel No. 013 as shown on
Map No. 09-36-00;
Thence west along the northern boundary of Parcel No. 013 to the
northwest corner of said parcel;
Thence south along the western boundary of Parcel No. 013 to the
southwest corner of said parcel;
Thence west along the southern boundary of Parcel No. 008.001 to the
southwest corner of said parcel;
Thence south, across the road right of way and continuing south along
the western boundary of Parcel Numbers 016,017, 018, 019,020,021,
022, 023,024, 025.001, and 026.001, as shown on Map No. 09-36-00,
to the southwest corner of Parcel No. 026.001;
Thence west along the southern boundary of Parcel No. 015 to the
southwest corner of said parcel, continuing across the Old Monon right
of way to the point of intersection with the west right of way line of the
Old Morion Railroad;
Thence north along the west right of way line of the Old Morion Railroad
to the point of intersection with the southern boundary of Parcel No. 005;
Thence west along the southern boundary of Parcel No. 005 to the
southwest corner of said parcel;
Thence north along the western boundary of Parcel No. 005 to the point
of intersection with the northern right of way line of Adams Street, which
is the point of beginning.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
2004 Amendment to the Old Town ED Area and City Center RD Area:
Legal Description of the Amendment
to the City Center Redevelopment Area
Adding Parcels to the Redevelopment Area
The following describes an area to be added to the City Center
Redevelopment Area, inclusive of all parcels contained within the
boundaries designated, as follows;
Beginning at the point of intersection of the west right of way line of
Rangeline Road with the south right of way line of Mohawk Drive (a.k.a.
City Center Drive), which is within the designated boundaries of the City
Center Redevelopment Area,
then proceeding northward along the west right of way line of Rangeline
Road, to the point of intersection with the south right of way line of 3r"
Street SW,
then proceeding westward, along the south right of way line of 3,d Street
SW, to the point of intersection with the east right of way line of Ist
Avenue SW,
then proceeding northward, along the east right of way line of 1'~ Avenue
SW, to the point of intersection with the southwest corner of parcel 16-09-
25-16-03-001-000,
then proceeding eastward, along the south property line of parcels 16-09-
25-16-03-001-000 and 16-09-25-16-03-002-000, to the southwest corner
of parcel 16-09-25-16-03-003-000,
then proceeding northward, along the west boundary of parcel 16-09-25-
16-03-003-000, to the point of intersection with the south right of way line
of 1'~ Street SW,
then proceeding eastward, along the south right of way line of 1st Street
SW, to the point of intersection with the west right of way line of
Rangeline Road,
then proceeding northward, along the west right of way line of Rangeline
Road to the point of intersection with the south right of way line of Main
Street,
then proceeding northward, across the right of way of Main Street to the
north right of way line of Main Street,
then proceeding eastward, along the north right of way line of Main
Street, to the point of intersection with the east right of way line of 1~
Avenue SE,
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
then proceeding southward, along the east right of way line of 1s' Avenue
SE, to the point of intersection with the north right of way line of 1" Street
SE,
then proceeding westward, along the north right of way line of 1"' Street
SE, to the southeast corner of parcel number 16-10-30-03-01-030-000,
then proceeding northward, along the eastern boundary of parcel
numbers 16-10-30-03-01-030-000 and 16-10-30-03-01-031-000, to the
northeast corner of parcel number 16-10-30-03-01-031-000,
then proceeding westward, along the northern boundary of parcel 16-10-
30-03-01-031-000, to the point of intersection with the east right of way
line of Rangeline Road,
then proceeding southward, along the east right of way line of Rangeline
Road, to a point directly eastward of the south right of way line of Civic
Square Drive,
then proceeding westward, across the right of way of Rangeline Road, to
the point of intersection with the south right of way line of Civic Square
Drive and the west right of way line of Rangeline Road, which is within
the designated boundaries of the City Center Redevelopment Area.
Legal Description Deleting Area/Parcels from the Old Town
Economic Development Area
The following describes an area which is intended to be added by
amendment to the City Center Redevelopment Area, and a part of which
is currently located within the boundaries of the Old Town Economic
Development Area. Any portion of the Old Town Economic Development
Area described herein is therefore officially deleted from the Old Town
Economic Development Area, inclusive of all parcels contained within the
boundaries described, as follows;
Beginning at the point of intersection of the west right of way line of
Rangeline Road with the south right of way line of Mohawk Drive (a.k.a.
City Center Drive), which is within the designated boundaries of the City
Center Redevelopment Area,
then proceeding northward along the west right of way line of Rangeline
Road, to the point of intersection with the south right of way line of 3ru
Street SW,
then proceeding westward, along the south right of way line of 3rd Street
SW, to the point of intersection with the east right of way line of 1st
Avenue SW,
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
then proceeding northward, along the east right of way line of l't Avenue
SW, to the point of intersection with the southwest corner of parcel 16-09-
25-16-03-001-000,
then proceeding eastward, along the south property line of parcels 16-09-
25-16-03-001-000 and 16-09-25-16-03-002-000, to the southwest corner
of parcel 16-09-25-16-03-003-000,
then proceeding northward, along the west boundary of parcel 16-09-25-
16-03-003-000, to the point of intersection with the south right of way line
of l't Street SW,
then proceeding eastward, along the south right of way line of 1st Street
SW, to the point of intersection with the west right of way line of
Rangeline Road,
then proceeding northward, along the west right of way line of Rangeline
Road to the point of intersection with the south right of way line of Main
Street,
then proceeding northward, across the right of way of Main Street to the
north right of way line of Main Street,
then proceeding eastward, along the north right of way line of Main
Street, to the point of intersection with the east right of way line of lS~
Avenue SE,
then proceeding southward, along the east right of way line of Ist Avenue
SE, to the point of intersection with the n'orth right of way line of 1st Street
SE,
then proceeding westward, along the north right of way line of 1s~ Street
SE, to the southeast corner of parcel number 16-10-30-03-01-030-000,
then proceeding northward, along the eastern boundary of parcel
numbers 16-10-30-03-01-030-000 and 16-10-30-03-01-031-000, to the
northeast corner of parcel number 16-10-30-03-01-031-000,
then proceeding westward, along the northern boundary of parcel 16-10-
30-03-01-031-000, to the point of intersection with the east right of way
line of Rangeline Road,
then proceeding southward, along the east right of way line of Rangeline
Road, to a point directly eastward of the south right of way line of Civic
Square Drive,
then proceeding westward, across the right of way of Rangeline Road, to
the point of intersection with the south right of way line of Civic Square
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
Drive and the west right of way line of Rangeline Road, which is within
the designated boundaries of the City Center Redevelopment Area.
Findings of Fact
Overview
The statutory Findings of Fact for each of the EDAreas was originally
established in the Economic Development Plans for each area. In each of
those plans, the statutory provisions were itemized and examined
individually, and conclusions and recommendations were made based on
the analytical parameters of each, individual area. Consequently, this
Amendment #2: Integrated Economic Development Plan hereby officially
and formally incorporates all of the original Findings of Fact, as well as
the entire text of each Economic Development Plan into this single,
Integrated Economic Development Plan. The text of the individual
Economic Development Plans previously approved and implemented by
the CRDC are included as appendices to this EDPlan in support of this
official action (see Appendix).
As a result of this action, this Integrated EDPIan officially incorporates the
sum of all of the individual findings of all of the individual EDPlans. The
integration of these EDPlans into a single document has no effect to negate
any of the findings of fact which constituted the statutory rationale for
creating the EDAreas, in the first place. Therefore, each and every finding
of fact is hereby certified, and affirmed by action of the CRDC and the
City Council, to remain valid in consideration of the Integrated EDPIan.
Continuation of the City Center Project
The reader is directed to the financial premise of the City Center
Redevelopment Plan and the Amended 126th Street Economic
Development Plan. (See Appendix) These two plans served as the policy
basis for the creation of a Redevelopment Area and an Amended
Economic Development Area, as well as the designation of both of these
areas as tax allocation areas under Indiana statute.
The purpose of designating these areas as tax allocation areas was to
capture tax increment revenue in support of the initial phases of the City
Center project (land acquisition). This initial phase has been completed.
Therefore, the proposed action to combine three of the EDAreas into a
single Integrated EDArea is a direct continuation of the City's support of
2004 Amendment to the Integrated Economic Development Plan
33
& Amended City Center Redevelopment Plan (2/10/04)
the City Center project. In the interim since the previous action by the
CRDC, new development opportunities have been realized, and the City is
in position to implement additional phases of the original vision of the
City Center project, based on the projects itemized in this Integrated
EDPlan.
The original City Center Redevelopment Area remains geographically
unchanged by any action proposed herein. However, the inclusion of new
areas, identified below, into the EDArea, as well as the designation of an
expanded tax allocation area, can potentially add to the TIF increment
which can be captured in support of the City Center project. This,
therefore, is simply a continuation of the previous economic development
pro forma which was approved by the CRC and the City Council in 1998.
2004 Amendment: The CRC has completed all but the most long-term of
its original visionary goals for creating a new cultural and artistic center
for the community. The 2004 amendment is set before the public for its
review and comment, and to enable the public to scrutinize the CRC's
progress thus far and its proposals for future action. The conceptual key
to the entire 2004 effort is the realization that the 'center of the city' of
Carmel is actually a much larger area than has been publicly realized,
prior to the redevelopment activities undertaken by the CRC since 1998.
The 2004 amendment, therefore, will seek to emphasize the concept that
the City Center projects, in actuality, benefit the community as a whole,
rather than just the small, designated ED Areas or RD Areas, ,AND to
emphasize that the development in this largbr 'core area' is part and
parcel to the redevelopment of City Center.
Few modern cities have undertaken the visionary effort of the City of
Carmel to create, preserve and re-create the greater downtown area as a
cultural and artistic center of the community at large. Most cities are
content to have some new development here and there for the purpose of
increasing its tax base. But only the most visionary, courageous and
talented cities have had the nerve to endure the creation of a substantial
negative tax increment with the goal of stimulating so much economic
growth that the negative increment is not only overcome, but overflowing
with new property tax base for the City as a whole.
It has long been held and advocated by city planners that a healthy core
area is crucial to the long-term economic health of a city. The CRC's
actions of the last 5 years have proven that a vital core area can add
vitality to all of the other areas of community growth. The CRC can
demonstrate that new growth and viable economic activity in the City
Center RD Area directly benefits the economic activity of other ED Areas,
and the community at large. Therefore, this 2004 amendment is to be
considered an opportunity for public discussion of the proposition that the
2004 Amendment to the Integrated Economic Development Plan
34
& Amended City Center Redevelopment Plan (2/10/04)
improvements in the City Center RD Area directly benefit the City's
other ED Areas, as well as the community as a whole.
Findings of Fact Related to Additional EDAreas
Beyond the original Findings of Fact which were detailed in each,
individual EDPIan, and are hereby incorporated into this Integrated
EDPlan, this Integrated EDPIan will focus the additional Findings of Fact
on the areas which are proposed to be added to the Integrated EDArea. As
such, the Findings of Fact presented below are to be considered
cumulative, in addition to the sum of the previous Findings.
These new areas to be added to the Integrated EDArea are generally
described as follows:
The previously undeveloped area located on the west side of US31,
north of 126~ Street south of 131 ,t Street, and east of the Firestone
office building, as shown on Map #2. This new area is contiguous with
the EDArea previously known as the Pennsylvania Street North EDArea.
The area of the planned development known as the Buckingham area,
north of the amended 126 ~h Street EDArea, and contiguous thereto, as
shown on Map #2. This development includes both multi-family
residential units and commercial development.
These two areas constitute a minor addition to the total Integrated EDArea
2004 Amendment: The Findings of Fact for this 2004 Amendment are
hereby affirmed to consolidate, incorporate and integrate the findings of
fact for the Old Town ED Area, the City Center RD Area, the Integrated
126~ Street Corridor ED Area (including findings related to the
Pennsylvania corridor and contained in that ED Plan), the Nocth Illinois
Street ED Area (as amended in boundary and name), the Hazel Dell
North & South ED Areas (as contained in the ED Plan, and as amended
in boundary), and the Old Meridian ED Area (as amended to include
previously unincorporated/undesignated territory), as well as
incorporating all previous findings of fact related to the designation of ED
or RD Areas, or any amendments in boundary thereto. The stated
purpose of this 2004 Amendment to the Integrated ED & RD Plan is, in
part, to formally state that all previous findings of fact are hereby deemed
current and relevant to the amended ED & RD Areas, as well as the ED &
RD Plans documenting such findings.
FINDING OF FACT#I: "...PROMOTESSIGNIFICANTOPPORTUNITIES FOR
THE GAINFUL EMPLOYMENT OF ITS CITIZENS..."
The areas beir~g added to the Economic Development Area consist of areas
2004 Amendment to the Integrated Economic Development Plan
35
& Amended City Center Redevelopment Plan (2/10/04)
peripheral to the Carmel Science & Technology Park. In each of the two
areas, there will be development of new office and other commercial space
which demonstrably adds new jobs to the local economy. Therefore, the
new areas are easily demonstrated to promote significant opportunities for
the gainful employment of the citizens of Cannel and surrounding
communities.
The area west of US31 is the site of a major new office building, located
irnmediately north of 126th Street. This site is directly served and
benefitted by the 126th Street corridor which was completed through the
original public financing (COIT bonds). Because the 126~h Street corridor
now extends continuously from the far east side of Carmel to the US31
corridor, without interruption, the economic viability of this site was
enhanced. The development of this office building will clearly provide job
opportunities for residents of the Carmel/Hamilton County area.
The proposed Buckingham development will also provide opportunities
for gainful employment of the citizens of the area. The proposed
development provides multi-family residential units which can be included
in the tax increment according to the State Board of Tax Commissioners.
Section 36-7-14-39 (a)(1) indicates that "residential property under the
rules of the state board of tax commissioners" is not to be included in the
tax increment. However, the regulations of the State Board of Tax
Commissioners regarding real estate property assessment (50 IAC 2.2-1-
53, "Residential property defined'~) stat~s, "Residential property is
normally construed to mean a structure where less than three (3)families
reside in a single structure." This clause is interpreted to mean that
apartment complexes of greater than 2 units can be considered eligible for
generating tax increment, as proposed for the Buckingham development.
The development proposal also includes commercial development space,
which can certainly be included in the tax increment. This commercial
space, in the form of office and retail space, will also provide employment
opportunities for citizens of the area, and the contribution of net assessed
value by the whole Buckingham development will benefit the community.
The overali plan for the economic development of the area is to continue
the implementation of the City Center project, as previously presented and
approved. The areas proposed for inclusion in the Integrated EDArea are
contiguous to the EDArea and are developing in accordance with the
surrounding land use, as a part of the business core of the City of Carmel.
As such, it is the conclusion of this EDPlan that the areas proposed for
inclusion in the Integrated EDArea meet the definition of this statutory
2004 Amendment to the Integrated Economic Development Plan
36
& Amended City Center Redevelopment Plan (2/10/04)
finding and should be included in the Integrated EDArea.
FINDING OF FACT #2: "...LACK OF LOCAL PUBLIC IMPROVEMENTS..."
The goal of integrating the EDAreas continues to be directly related to the
need for additional local public improvements in order to achieve the
highest level of economic activity in the core business area of the City.
Carmel is truly a gifted community. It has achieved a level and success of
development which is virtually unparalleled in any other part of the state,
and as such, the standards of the community are higher than most other
communities. Because Indiana statute does not create highly specific and
detailed criteria for statutory findings of fact or findings of blight,
communities are able to adjust these findings to their own context and
apply the statute to the particular idiosyncracies of their community. In
Carmel, the goal is literally to achieve the highest possible level of success
with new development of the highest possible quality.
The historical development patterns of the city are reaching the point
where certain types of goals cannot be achieved without the re-
arrangement of land uses and activities. The Comprehensive Plan predicts
that by the year 2020, all of the land within the Carmel planning area will
be developed. The importance of planning for the highest and best use of
the land becomes even more important to achieve the community's goals.
The Integrated EDArea represents Carmel's highest profile employment
center. The Science and Technology Park ho. lds many of the City's top
employers and most growth-oriented companies. It is the success of these
companies which will continue to provide the area with economic growth,
even after the planning area is fully developed. The Integrated EDArea is
in a critical location for the economic activity of the community.
The 126'h Street extension from Rangeline Road to Adams Street was a
critical public improvement in the original Economic Development Plan.
In addition, EDPIan amendments established that the City Center project
contributed directly to the Economic Development Plan for the 126th
Street Corridor Economic Development Area as well as the Old Town
EDArea, and provided additional public sector improvements which have
been identified and previously approved by the community as part of its
long-range planning effort. These approvals are a matter of public record,
particularly with regard to the incorporation of the City center project into
the long term development plan of the City of Carmel.
Included within the proposed City Center project are a number of public
improvements designed to establish a cultural center for the City of
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
37
Carmel adjacent to its business core. Those public improvements include:
Parking Facilities
A Community Center (art museum)
Performing Arts Center
An Outdoor Amphitheater
Improvements to the Monon Trail Corridor
The City Center project proposal, as previously presented to the City
Council, provided additional perspective for the public to understand the
magnitude and architectural detail of the City Center proposal. In
addition, the architect also provided a perspective rendering of the
proposed project to demonstrate the overall architectural integrity of the
project and its impact on the community and surrounding area.
The City Center project is of such a substantial scale and impact that it will
become an active part of the overall economic development of the area,
including both the Integrated EDArea and the City Center Redevelopment
Area. It is projected that the proposed City Center project and the public
improvements to be funded as part of its implementation will have a direct
impact on the entire community, with the intent of developing the center
of the city as a cultural center. Without these public improvements, the
City of Carmel will not become economically distressed. However, it is
clear that the successful development of the City Center project will have a
direct economic benefit to the surrounding area, including the Old Town
EDArea and the 126th Street EDArea, and will reinforce the economic
viability of the city's business and social core.
The City Center project was proposed as a public-private partnership.
Since its inception, the City has enjoyed several redevelopment type
projects for the central core of the city, including the housing/commercial
development proposed for the southwest comer of the intersection of Main
Street and Rangeline Road. The subsequent phases of the City Center
project include the development of public space, possibly including a
performing arts center, museums or other forms of cultural, entertainment
and recreational activities for the citizens of Carmel. These thcilities are
generally not within the purview of the private sector, except under highly
unusual circumstances. Even in major cities like Indianapolis, Chicago
and New York, performing arts facilities, museums and community
activity space is a public sector responsibility. Therefore, it is clear that
neither the normal operation of the regulatory process nor the operation of
private enterprise is likely to be functional in meeting such needs.
For these reasons, it is concluded that the Integrated EDPlan (including the
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
38
proposed City Center project) cannot be achieved by the regulatory
processes or by the ordinary operation of private enterprise without resort
to the powers allowed under IC Sections 36-7-14-2.5, 41 and 43 because
of lack of local public improvements which, once implemented, will
enable the combined areas to achieve a higher level of economic activity
and public benefit than would otherwise be possible, thereby confirming
this statutory finding of fact.
FINDING #3: "...THE PUBLIC HEALTH AND WELFARE WILL BE
BENEFITTED...."
The City Center project will benefit the public health and welfare of the
City of Carmel in several ways, as explained in previous EDPlans. First,
the City Center project will generate more intense and coordinated
development in the central business core area. For example, along the
Rangeline Road corridor, the existing land use patterns include
unimproved land and property which needs reinvestment and remodeling.
This corridor represents the original economic link between Carmel and
Indianapolis, and the strip commercial development which originally took
place along this corridor is among the oldest commercial development in
the City. The long range plan of the City is to develop a single,
architecturally-coordinated development which will be undertaken
generating a substantially greater number of jobs and economic activity
than the current land uses of the City Center area.
Second, the City Center improvements are expected to lead to substantially
greater levels of local tax revenues including property taxes and COLT.
Economic incentives can then be directed to public services needed by the
community, including road repairs, maintenance of public spaces,
infrastructure improvements and so forth. The uses for these funds can be
determined annually by the City's leadership as part of the budgeting
process.
Third, the addition of cultural and public facilities such as the performing
arts center and the community center will have a direct and positive impact
on the public welfare. These facilities will increase the number of
opportunities available for Carmel's citizens to be exposed to intellectually
and culturally enlightening performances, as well as offering the
opportunity to participate in those activities directly. In addition, the
community center will provide opportunities for the residents of the area
to meet and interact with regard to a broad range of public, semi-public,
and community-based activities. The activities programmed for
community center spaces are virtually limitless, and with the creative
2004 Amendment to the Integrated Economic Development Plan
39
& Amended City Center Redevelopment Plan (2/10/04)
capacity of an educated population, the community space in Carmel will
undoubtedly provide a huge benefit to the community at large.
Fourth, the Monon Trail corridor improvements are part of the City Center
project. This linear park is an extension of the Monon Trail of northern
Marion County which has become one of the most popular park facilities
in central Indiana. The portion of the linear park which stretches from
Broad Ripple to Nora is a public health attraction for the community at
large with people making a point of traveling to the Monon Trail to jog,
skate, bike or walk its entire length. It is not unreasonable to expect
similar usage in Carmel, thereby creating a direct benefit to the public
health and welfare of the community at large.
The Integrated EDArea, along with the Redevelopment Area, continues to
be, a carefully coordinated effort to assure the economic viability of the
urban center of the City of Carmel. History has proven that cities routinely
neglect their urban cores until the decay and disinvestment has become so
pervasive that the area is unilaterally blighted. Carmel's leadership is
determined to avoid that outcome. In that determination, the proposal is to
create the opportunities to capture revenue streams from the business core
to assure that the business core remains economically viable for the long
term. This means developing a coordinated EDPIan between the
Redevelopment Area and the Integrated EDArea and then working
consistently toward implementation of the City Center project.
For these reasons, it is concluded that the public health and welfare will
benefit by accomplishment of the plan for the integrated EDArea. The
City Center project is a complex mix of public and private space designed
to anchor the central portion of the City as the focal point of the
community. Implementation of this project, undertaken in a careful and
considerate manner, will directly benefit the public health and welfare, as
suggested in this finding of fact.
FINDING #4: "AN INCREASE IN THE PROPERTY TAX BASE..."
The amended Economic Development Plan meets the statutory finding of
"a public utility and benefit as measured by: the attraction or retention
of permanent jobs; an increase in the property tax base; improved
diversity in the economic base, OR other similar public benefits." The
City Center project was designed to meet this finding of fact by increasing
the land use intensity within the Redevelopment Area. This increased
intensity will provide more private sector office and retail space and, with
that increase in space, there will be a commensurate increase in the
number of permanent jobs created and retained in the community.
2004 Amendment to the Integrated Economic Development Plan
4O
& Amended City Center Redevelopment Plan (2/10/04)
Considering that most of the Redevelopment Area is either vacant
altogether or in need of substantial reinvestment, it is easy to see that the
City Center project will almost certainly result in many more jobs than
those now existing. Thus, the first part of the finding is established.
Second, the portion of the Redevelopment Area located in the southwest
quadrant of the intersection of 126th Street and Rangeline Road is largely
undeveloped, and is mostly owned by the City. As such, it is generating
no tax base for the community. Although no formal implementation is yet
proposed, many of the projected improvements will take place on land that
is currently either totally unimproved or whose improvements are
suffering from a lack of reinvestment. Therefore, the net result of the plan
is to increase the amount of taxable improvements in the real property of
the area, leading to an increase in the property tax base.
The construction of an integrated entertainment complex, economically
buttressed by infrastructural improvements and new office and retail space
will also increase the diversity of the local economy. The location of this
project, between the historic retail center of the community and the
primary retail center of Carmel Drive/116~h Street, links the overall retail
functions of the community, providing continuity of land uses. This
project, combined with the impact of the 126th Street corridor completion,
should improve the diversity of the local economy, resulting in needed
investment and reinvestment in property in the area.
For these reasons, it is concluded that the accomplishment of the City
Center project, as well as other aspects of the Integrated EDPIan will be "a
public utility and benefit as measured by: the attraction or retention of
permanent jobs; an increase in the property tax base; improved diversity in
the economic base; OR other similar public benefits," thereby confirming
this statutory finding of fact.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
41
FINDING#S: "...CONFORMSTOOTHERDEVELOPMENTAND
REDEVELOPMENT PLANS...."
This Integrated EDPIan complies, by definition, with other development
and redevelopment plans for the area in several ways. First, this Integrated
Economic Development Plan is developed in tandem with the City Center
Redevelopment Plan and conforms specifically thereto. By developing
these two Plans in tandem, the Redevelopment Commission can use its
diligence of review and approval to assure that they conform directly with
one another. To take this principle a step further, the Plan Commission
has determined on two separate occasions that each of thc EDPlans and thc
Redevelopment P[an conform with the plan of development for thc city.
These actions were taken officially and arc a matter of public record. As
such, there is no question whatever that the Integrated EDPIan conforms to
the other development plans for the area.
To further underscore the accuracy of this assertion, the City Council also
officially considered the findings of fact in all of the EDPlans and found
that the plans conformed to the plan of development for the city. The
Council then approved the issuance of public debt for the purpose of
implementing these plans. Certainly, if there were any doubt as to whether
the plans or the recommended projects conformed to the plan of
development for the community, the City Council would never have
approved the financing for these projects. Considering that the City
Council has approved public debt in excess of $40 million for the
implementation of these EDPlans, it is clear, that the individual plans
conform to the overall development plans for the city.
The fact that this EDPlan conforms to the previous planning for the
community is beyond dispute, as a matter of public record, and by the
direct public approvals, resolutions and other actions of the CRDC, the
Redevelopment Authority, the Plan Commission and the City Council.
For these reasons, it is concluded that the Integrated EDPlan conforms to
all other development and redevelopment plans for the City of Carmel,
thereby confirming this statutory finding of fact.
ADD 'L FINDING: THE..4MENDMENT IS REASONABLE & APPROPRIATE
It is also necessary for this Integrated EDPlan to ascertain whether the
amendment is reasonable and appropriate when considered in relation to
the original resolution and plan, along with the purposes of IC 36-7-14. It
is therefore necessary to consider the original context of the plans.
As stated in the earlier sections of this document, the original EDPlans and
the RDPlan were undertaken in support of the long term development of
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
42
the city's business core area (generally defined as 116th Street to 131st
Street, and from US31 to Rangeline Road). This general area contains the
old downtown area, as well as the Science & Technology Park, which
represents the most modem business center in the community. Those
earlier sections of this report, including the Introduction, Statement of
Policy & Amendments and the Impact of Future Actions all substantiate
that this action toward integrating and consolidating the individual
EDAreas into one area, continues the original intent to develop the entire
area as a developmental whole.
As of the date of presentation of this Integrated EDPIan, all projects have
been undertaken for the purpose of securing these areas as
developmentally and functionally interconnected. Furthermore, these
projects have been undertaken to underscore the developmental
importance of the defined areas as the cultural, governmental and business
center of the community.
The recommended action to integrate the separate EDAreas into a single
Integrated EDArea is undertaken to reduce confusion and increase public
awareness. Individual projects originally justified the creation of
individual areas, however, as the developmental constraints were removed,
the area began to grow in the preferred manner until now all of the areas
are functionally and developmentally interconnected.
For these reasons, the original reasons for pursuing EDArea and RDArea
designations for the various areas remain valid. The findings of fact
presented above all assert and demonstrate that the new areas meet the
developmental conditions prescribed by statute, in substantially the same
manner as the original areas. Therefore, it is hereby asserted that the
amendment to the resolution and the amended (Integrated) plan are
reasonable and appropriate to the original purpose and intent of the
individual areas.
ADD 'L FINDING: THE AMENDED RESOLUTION & PLAN CONFORM TO THE
COMPREHENSIVE PLAN
In Finding #5, above, it was clearly demonstrated that the original plans
were determined to conform to the plans of development for the city. An
entire sequence of official actions by public agencies and officials affirmed
this assertion. As a result of the findings of this Integrated EDPIan,
presented above, the areas proposed for inclusion in the EDArea by virtue
of this EDPlan are also in conformance with the overall plan of
development of the city.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/I0/04)
43
The areas proposed for inclusion (those areas which were not previously a
part of any EDArea) amount to approximately 100-110 acres. As shown
in the "Total Designated Areas" summary table earlier in this Integrated
EDPlan, the total acreage previously designated exceeds 1,000 acres. As
shown on Map #2, the expansion areas include three primary
developments:
Hamilton Crossing (about 48 acres);
Additional Meijer Development (about 5 acres); and,
Buckingham Development (about 55 acres)
These 3 developments predominantly represent commercial developments
which have been facilitated by the provision of new thoroughfare access
along Pennsylvania Street, 126th Street (or other projects), as well as
through the developmental integration of the overall area as the business
core of the community. As such, these developments will benefit from the
new facilities and projects recommended in previous EDPlans.
More importantly, however, the Comprehensive Plan for the community is
clear in its designation of this general area as the business core of the
community. Even the most cursory examination of the existing and future
land use plans of the community clearly show the intent of these areas to
serve as the business core. This conformity was clearly established in the
previous EDPlans and the inclusion of the three developments listed above
does not alter that original conclusion. Inasmuch as these developments
increase the intensity of this business core, as well as expanding to and
developing undeveloped parcels which were designated for business land
uses within that core, it is absolutely clear that these developments fall
totally within the original intent of the designation of these areas as
economic development areas. Therefore, it can be safely concluded that
the three areas listed above conform to the comprehensive plan of the
community.
SUMMARY~
The narrative above demonstrates conclusively that the Integrated EDPtan
meets the requirements of all "findings of fact" as provided in Indiana
statute, IC36-7-14. It is clear that the Redevelopment Commission has
considered all of the relevant issues related to the establishment of the
economic development areas. Originally, individual EDAreas were
created to support projects such as corridor improvements which were
geographically separated, yet still part of the central business core of the
community. As these projects were implemented, however, it became
clear that all of the projects were a part of an overall plan to assure the
economic viability of this business core. Although the 126th Street
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/I0/04)
44
corridor and the Pennsylvania Street corridor were previously considered
separate projects, it is now clear that they are closely related to the
economic success of the whole area. Therefore, this is an appropriate time
to integrate all of the separate areas into a single, unified whole.
Description of the Proposed Projects
The Integrated 126th Street Economic Development Plan includes, by
incorporation of all of the previous economic development plans, all of the
projects originally proposed. (See Appendix) This Integrated EDPlan
adds no new projects to the list of projects to be undertaken as a result of
the economic development plans of the community. These projects are
summarized below.
The City Center Project
The City Center project is proposed tbr an area of slightly less than 100
acres located along Rangeline Road and stretching from the City Hall on
the south to the new alignment of 126~h Street on the north. The dominant
land uses in the area are commercial and governmental uses, however,
about 61 acres of the area are totally unimproved.
The primary proposed development within City Center project is
commercial, and public space, including an entertainment complex with a
theater, performing arts center and amphitheater. The City is also
considering opportunities for museum space as part of the public space
complex. Additional commercial, retail and office development is planned
along the major transportation corridors as part of the overall
development.
The early phases of the project included land acquisition. Future phases
are expected to include construction of parking facilities, infrastructure,
and other project related activities, which would be anticipated to be
eligible for COIT and TIF financing.
2004 Amendment: This 2004 amendment to the City Center
Redevelopment Plan and Redevelopment Area serves to re-affirm the
previous project list, especially with regard to those projects not yet
completed, as well as the addition of the following projects:
Storage/restroom building on Monon Trail
Veteran's Memorial
$300.000
$75,000
$500,000
$125,000
2004 Amendment to the Integrated Economic Development Plan
45
& Amended City Center Redevelopment Plan (2/10/04)
South Veteran's Way Roundabout $900,000 $1,000,000.
East-west Retail Boulevard $500,000 $600,000
Repairs, renovation, remodeling of Public Spaces $175,000 $225,000
Infrastructure redevelopment, utility burial $650,000 $750,000
construction of the South Tower $400,000 $500,000
126th Street Extension/Completion
The 126th Street corridor was completed as a result of previous financing
and construction activity and is currently operative within the city's
thoroughfare system. This project was critical to the developmental
integration of the central sections of the city, and in providing additional
thoroughfare access to the city's business core. The 126th Street project
substantially increased traffic access and circulation within the business
core, while simultaneously improving access to the government center and
the City Center area.
Pennsylvania Street Corridor Widening
Financing for the Pennsylvania Street corridor widening project has
already been completed through the issuance of public debt, and it is not
anticipated that additional financing will be required.
Future Projects Overview
The Integrated EDPIan is presented for the purpose of integrating the
economic development efforts of the City of Carmel over the past 5 years
while projecting that same progress into the future. When the economic
development planning efforts were originally initiated in 1996, the City's
Leadership had a "schematic" vision of the future development of the
central areas of the City (generally bounded) as tbllows:
from Range Line Road on the east;
to 116~" Street on the south;
to the US31 corridor on the west;
to 131'~ Street on the north).
Based on that "schematic" vision, the city's Leadership moved forward
with those portions of the vision which were the most fundamental,
including projects such as the 126th Street Extension, the Pennsylvania
Street corridor widening, and the Old Town streetscape improvements.
Not long afterward, the City Center concept was developed sufficiently to
be added to the long term plan.
2004 Amendment: Please note the above text, written and approved in
2004 Amendment to the Integrated Economic Development Plan
46
& Amended City Center Redevelopment Plan (2/10/04)
2000. The general boundaries described in the Integrated ED Plan
(2000) are almost a perfect prediction of the boundaries as seen in 2004.
This consistency of vision should serve to reassure the public that the
CRC and the City have carefully considered all of the available
information and have charted a careful path, which continues to be
validated.
It is a positive testimony to the strength of this long term vision that the
vision continues to grow while becoming more real. The 126th Street
extension is now in place, and as a result, the community can more easily
visualize the developmental importance of the "City Center" and the 126th
Street corridor areas of the city. The Pennsylvania Corridor improvements
have already helped to generate a positive image of growth, which has led
to continued economic development along the US31 corridor in the form
of new office and retail development. The Old Town streetscape
improvements have dramatically improved the aesthetic character of
downtown (which was once a primary concern of the Comprehensive
Plan), to the point that major redevelopment proposals for the area are
being received from the private sector. The City Center project continues
to tangibly move toward reality, resulting in the direct cultivation of new
opportunities for a performing arts center and other community amenities
which were part of the original vision for the overall area.
Thc economic development and redevelopment planning process which
began in 1996 as a "schematic" concept, has moved forward. The original
"fundamental" elements now appear as fragments of a puzzle which is
becoming increasingly clear in terms of the City's development. And as
that puzzle moves toward completion, the elements which once appeared
as fragments are more clearly becoming a part of a single, integrated,
developmental picture. Thus, it is appropriate to take the time to integrate
these "fragments" into a single, operative, planning document so that the
entire community can see the overall developmental picture, as well as the
longer term vision, more clearly. This Integrated Economic Development
Plan is intended to serve that purpose.
UPon rED PROJECT LIST:
Having offered the planning and development rationale which served as
the conceptual basis for the previous economic development plans, it is
therefore, appropriate to present the list of improvement projects which are
anticipated to be a pan of the final phases of implementation of the
economic development strategy for this portion of the City. The projects
are summarized in the table below.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/I0/04)
47
Project Minimum Maximum
Estimate Estimate
Performing Arts Center $25,000,000 $30,000,000
Art Museum $14,000,000 $16,000,000
Land Acquisition for Old Town Redevelopment $3,500,000 $4,000,000
Street Department Maintenance Facility $1,500,000 $2,000,000
Land Acquisition along Range Line Road $1,800,000 $2,200,000
(near City Hall)
Old Meridian Corrfdor Improvements $1,000,000 $1,500,000
Mohawk Center Development Redevelopment $5,000,000 $6,000,000
Activity
Total Estimated Costs $5f,800,000 $6f, 700,000
The project list presented above is offered with the intent of placing the
entire list of projects into the venue of public discussion. It is important to
understand that the list is presented as part of this Integrated Economic
Development Plan. Therefore, the list is intended to represent the realm of
future possibility, NOT as a list of"approved" projects.
It is also appropriate to note that several of the projects listed above, in
fact, were presented in the previous economic development and
redevelopment for the area, as found in the appendix to this report. For
example, the performing arts center was originally presented as part of the
redevelopment plan for city center.
The economic development planning process requires that all potential
projects be listed in the Integrated Economic Development Plan in order to
be considered for implementation in the future. Therefore, in order for a
project to move from the realm of "possibility" to the realm of
"reality,'the City and the Redevelopment Commission must identify
appropriate financing.
Economic Development Strategy
The comprehensive plan for the City of Carmel over the last three decades
demonstrates a substantial concern for the fate of the city's original core
area. While Carmel has enjoyed high quality growth, there are some areas
which were developed before the city could anticipate the success of its
future. This original development is not compatible with a city which is
nearing its developmental limits. The prime areas of need are in the
2004 Amendment to the Integrated Economic Development Plan
48
& Amended City Center Redevelopment Plan (2/10/04)
vicinity of Rangeline Road, and with this understanding, the Economic
Development Strategy for the Integrated Economic Development Area
contains the elements previously approved by the City, as follows:
The Carmel Redevelopment Commission amended the boundaries
of the 126th Street Economic Development Area to reflect the
boundaries shown on Map #1 (presented earlier in this document).
The City Center project was distinctly designed to re-direct the
focal point of the community of Carmel. The Government Center
was developed over the last decade to include a new City Hall,
Police Station and Fire Station, as well as a central public space.
The Government Center is also adjacent to the Monon Trail corridor
which is proposed for significant improvements creating a linear
park, linked to indianapolis and unequaled in the state of Indiana.
The proposed City Center project is expected to generate an
entertainment complex, as well as new office/retail space to
support and augment the space available in the Science &
Technology Park. The integration of these needs into the overall
needs of Carmel's premier employment center assures that the City
Center project will directly benefit the Integrated EDArea, as
proposed.
The Redevelopment Commission established a Tax Allocation Area
to coincide with the boundaries of the amended 126 t, Street
Corridor Economic Development Area and issued COlT debt to
support the initial phases of the Ci~ Center project.
The Redevelopment Commission should also consider the viability
of using COlT bonding to assist in paying for the necessary
improvements related to the City Center and Monon Trail projects.
The City should, in addition, consider pursuing additional phases
of the City Center project in an appropriate manner, based on
financing for specific projects or elements under the City Center
plan, as presented previously.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
49
Integrated EDPIan Conclusions
The following conclusions are offered for the Integrated 126th Street
Economic Development Plan. These conclusions also include by
reference (see Appendix), the conclusions offered for the original
EDPlans, as well as the City Center Redevelopment Plan and the
Amended 126th Street Corridor Economic Development Plan.
Based on the examination of the facts and the analysis set forth in this
integrated EDPIan, the following conclusions are offered:
That the implementation of the City Center project will directly
benefit the Integrated 126th Street Economic Development Area.
That the implementation of the City Center project will help to
developmentally unify the entirety of the business core of the City
of Carmel, including the Rangeline Road corridor, the Old Town
(historic downtown) area, and the Science and Technology Park.
That the need for the 126' Street extension project has proven
beneficial to the thoroughfare system of the area.
That the 126th Street extension project directly benefitted the City
Center project.
That the future economic development of the entire area, including
the amended 126t" Street Corridor Economic Development Area,
the Old Town Economic Development Area and the City Center
Redevelopment Area, as the business core for the community will
be directly benefitted by the projects proposed in this Integrated
Economic Development Plan.
That it was appropriate to delete the City Center project area from
the original 126th Street Corridor Economic Development Area in
order to facilitate the creation of the City Center Redevelopment
Area and to implement the City Center project.
That it was appropriate to extend the boundaries of the 126 th Street
Corridor Economic Development Area to take in a larger portion of
the Science & Technology Park, due to the economic
interdependence of the economic development areas as the
functional employment center for the community.
That a positive economic impact resulted from the implementation
of the projects recommended in these previous Economic
Development Plans in the form of supporting the creation of new
permanent jobs, securing existing jobs and generation of additional
2004 Amendment to the Integrated Economic Development Plan
5O
& Amended City Center Redevelopment Plan (2/10/04)
tax revenues to the City.
That if this Integrated Economic Development Plan is not approved
and the recommended projects are not implemented, it will be more
difficult for the community to achieve the levels of economic
Intensity and competitive efficiencies which would otherwise be
possible with the implementation of the City Center and other
projects already undertaken within these EDAreas.
10.
That it is appropriate to offer public financing for certain portions of
the proposed projects as an economic stimulus for the proposed
projects.
11.
That the City and the Redevelopment Commission should seek
private sectors partners to assist in the implementation of the
recommended projects and in assembling project "packages"
which will minimize the public sector investment and optimize the
economic impact of the projects.
The Redevelopment Commission has done an outstanding job of analyzing
and implementing an appropriate level of activity to encourage the optimal
economic development of the interdependent economic development
areas. The conclusions of this Integrated Economic Development Plan are
predicated on the continued performance of objective analysis, public
policy direction, and the formation of partnerships with the Plan
Commission and the City Council necessary to assure the success of the
projects.
Integrated EDPIan Recommendations
Based on the information presented, the analyses performed and the
findings and conclusions of this Integrated Economic Development Plan,
the following recommendations are presented for the consideration of the
Carmel Redevelopment Commission, and thereafter to the City Council
for approval.
That the Carmel Redevelopment Commission should formally
integrate the boundaries of the amended 126 th Street Corridor
Economic Development Area and the Pennsylvania Street North &
South Economic Development Areas to create one, single,
Integrated Economic Development Area. This action will result in
greater clarity and simplicity of public policy with regard to
economic development initiatives for this business core area. The
resulting boundaries are shown in Map #2 and the boundary
description was presented earlier in this EDPlan.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
51
That the Carmel Redevelopment Commission add the two areas not
previously included within the economic development areas (as
shown on Map #2) to the Integrated 126 t, Street Economic
Development Area.
That the Carmel Redevelopment Commission should formally
create a Tax Increment Finance (TIF), Tax Allocation Area whose
boundaries ars shown on Map #-4.
That the Carmel Redevelopment Commission should formally
approve this Integrated Economic Development Plan and undertake
further implementation of additional phases of the City Center
project, and the Monon Trail corridor improvements.
That the Carmel Redevelopment Commission should work directly
with the City to develop a financial plan for the implementation of
the City Center project, including eminent domain actions and
negotiated purchases, as well as financing for additional phases of
the project, as determined necessary by cooperative efforts of the
Redevelopment Commission, the City Administration and the City
Council.
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
Parcels Potentially to be Acquired
The following parcels have been identified as those proposed to be
acquired by the CRDC in pursuit of the Economic Development Strategy.
Please note that the City or the CRDC may be acquiring most or all of
these parcels through negotiated purchase, rather than eminent domain.
[126'h street Corridor Economic Development Area - Range Line Road Parcels, west side of road, adjacent/east of City
Hall]
Calc. Area
0.66327
0.663455
0.66366
0.603548
0.441222
0.196017
8.721126
Parcel Number
1609360000023000
1609360000022000
1609360000021000
1609360000020000
1609360000018001
1609360000019000
1609360000018000
1609250000014000
Principal Tax Payer
Phillip L & Judith E Stewart P O Box 374 Carmel IN
Phillip L & Judith Stewart P O Box 374 Carmel 1N
Marketing Services oflndiana Inc 1040 Range Line Rd S Carmel IN
Marketing Services of Indiana Inc 1040 Range Line Rd S Carmel IN
Thomas D Stayer 1036 Range Line Rd S Carmel IN
Marketing Services of Indiana ]nc I040 Range Line Rd S Carmel IN
Marketing Services of Indiana Inc I040 Range Line Rd S Carmel IN
Harry C Elliott 620 A Range Line Rd S Carmel IN
(a.k.a. Elliot's Mohawk Plaza)
[Old Town Economic Development Area - Main Street Parcels, north & south side of road, adjacent/east of Monon Trail]
Calc. Area
0.194119
0.193816
0.200128
0.200121
0.146806
0.304346
0.122907
0.1448
0.315283
0.250083
3.108c-002
9.4009e-002
0.125078
0.250104
0.250144
7.028e-003
0.204721
6.0383e-002
0.219223
Parcel Number
1609251601013000
1609251601012000
1609251601011000
1609251601010000
1609251602031000
1609251602030000
1609251602029000
1609251602004000
1609251602001000
1609251201030000
1609251201029000
1609251201028000
1609251201027000
1609251201026000
1609251201025000
1609251201024000
1609251201023000
1609251201020000
1609251605003000
Primary Taxpayer
TWM lnc 11711 College Ave N St 160 Carmel IN
TWM Inc 11711 College Ave N St 160 Carmel IN
TWM lnc 11711 College Ave N St 160 Carmel IN
TWM Inc 11711 College Ave N St 160 Carmel IN
Hays, John F & Laurence Grabb 89 I st Ave S W Carmel IN
Hays, John F & Laurence Grabb 89 1 st Ave S W Carmel IN
Hays, John F & Laurence Grabb 89 1st Ave S W Carmel 1N
Hays, John F & Laurence Grabb 89 1st Ave S W Carmel IN
Hays, John F & Laurence Grabb 89 1st Ave S W Carmel IN
Anthony Properties LP
Anthony Properties LP
Anthony Properties LP
Anthony Properties LP
Anthony Properties LP
Anthony Properties LP
Anthony Properties LP
Anthony Properties LP
Anthony Properties LP
Glenn A & Am}, D Dunkerly
18881US31N WestfieldlN 46074
18881US31N WestfieldlN 46074
18881US31N WestfieldIN 46074
18881 U S 31 N Westfield IN 46074
18881US31N WestfieldlN 46074
18881US31N WestfieldIN 46074
18881 U S 31 N Westfield IN 46074
18881 U S 31 N Westfield IN 46074
18881US31N WestfieldlN 46074
11 I First St SW Carmel IN
[Old Town Economic Development Area - Main Street and Range Line parcels, SE Corner]
Calc. Area Parcel No. Primary Taxpayer
0.245325 1610300301031000 MA LLC 111 Range Line Rd S Carmel IN
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
53
0.210521
0.198334
0.170281
9.8435e-002
0.213587
0Al1165
9.0456e-002
7.0215e-002
8.5747e-002
1610300301030000
1610300301008000
1610300301007000
1610300301005000
1610300301004000
1610300301003000
1610300301002000
1610300301001000
1610300301006000
William E & Marcia A Foreman 41 Range Line Rd S Carmel IN
William E & Marcia A Foreman 40 1st Ave SE Carmel IN
William E & Marcia A Foreman 0 Ist Ave SE Carmel IN
Carmel Clay Chamber of Commerce lnc 41 Main St E Carmel IN
Gen Ii Marketing Inc. 31 Main St E Cannel IN
Marshall E Andich P O Box 494 Carmel IN
Marshall E & Sandra Lee Andich P O Box 494 Carmel 1N
Marshall E Andich P O Box 494 Carmel IN
City of Carmel One Civic Sq. Cannel IN
2004 Amendment: This amendment to the Integrated ED Plan as well as
the 2004 Amendment to the City Center Redevelopment Plan includes an
amendment to the list of parcels to be acquired by the CRC, as part of
the amended City Center RD Area. These parcels are listed as follows:
(Insert table of parcels from declaratory resolution)
/cr 2004integ draft
2004 Amendment to the Integrated Economic Development Plan
& Amended City Center Redevelopment Plan (2/10/04)
54