Fishers City Council Adopts Economic Development Resolutions for Gray Eagle Golf Course

The Fishers Redevelopment Commission made significant strides in economic development during its meeting on July 21, 2025, by adopting resolutions that will enhance funding for key projects in the city.

The commission approved a resolution pledging tax-exempt revenues from the Gray Eagle Golf Course allocation area to support the repayment of bonds related to economic development. This move is expected to streamline financial processes and ensure that the generated tax increment is effectively utilized for community growth. The resolution sets a not-to-exceed limit of $7 million, which will facilitate the development of the area while minimizing risks for the city, as the financial burden primarily falls on the developers.

In a related decision, the commission also adopted a resolution for the Gray Eagle multifamily allocation area, further pledging tax increment revenues to support bond payments. This resolution mirrors the previous one, reinforcing the city’s commitment to fostering multifamily housing development.

Additionally, the commission discussed the State Road 37 project, making a preliminary determination to amend a lease with the Fishers Redevelopment Authority. This amendment is crucial for transitioning from short-term bond anticipation notes to permanent financing for the project, which includes significant infrastructure improvements. The public hearing on this matter will allow for community input before final decisions are made.

Another key resolution authorized the execution of a lease for the Fishers Community Center project, with a not-to-exceed rental payment of $5.7 million. This financing structure has been planned for several years and will not impact the city’s tax rate, allowing for the timely opening of the community center for public use.

These resolutions reflect the commission's proactive approach to economic development and infrastructure improvement, setting the stage for enhanced community services and growth in Fishers. The next steps will involve further public hearings and approvals from the city council, ensuring that community voices are heard in the decision-making process.