Whitestown Town Council approves resolutions for Paget Commons economic development project

The Whitestown Town Council meeting on May 14, 2025, focused on several key resolutions aimed at advancing local economic development projects, particularly the Paget Commons initiative.

The council began by discussing Resolution 2025-11, which authorizes the execution of lease agreements related to public improvement projects supporting the Paget Commons development. This resolution is crucial as it allows the Redevelopment Commission (RDC) to issue debt with the council's consent, ensuring that the financing will primarily rely on Tax Increment Financing (TIF) revenues rather than a tax levy. The council unanimously approved this resolution, indicating strong support for the project.

Following this, the council considered Resolution 2025-12, which involves removing certain parcels from the existing economic development area to establish a new allocation area specifically for Paget Commons. This step is part of a broader process to create a TIF district, which will help fund local infrastructure improvements. The council confirmed that the new area would still contribute 50% of its assessed value towards the repayment of the new interchange construction, maintaining financial commitments to previous projects. This resolution also passed unanimously.

Lastly, the council reviewed Resolution 2025-13, which consolidates several economic development areas into one. This consolidation aims to streamline the management of these areas and enhance their development potential. The council received approvals from both the RDC and the Planning Commission for this resolution, which also passed without opposition.

Overall, the meeting underscored the council's commitment to fostering economic growth in Whitestown through strategic planning and development initiatives. The successful passage of these resolutions marks a significant step forward for the Paget Commons project and the town's economic landscape.