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Fishers Redevelopment Commission expands Union & Crossing allocation area, pledges increment to project bonds
Summary
The Fishers City Redevelopment Commission approved a confirmatory resolution to expand the Crossing Lot 3 allocation area, pledged tax increment from related allocation areas to senior project bonds, and approved an amended and restated project agreement to broaden revenue backstops.
The Fishers City Redevelopment Commission voted to expand a tax increment allocation area tied to the Union and Crossing project, pledged increment from related allocation areas toward repayment of senior project bonds and approved an amended and restated project agreement intended to provide additional revenue certainty to the developer.
Commission members opened and closed a public hearing on the confirmatory resolution after no members of the public spoke. Dustin Meeks, attorney with Barnes & Thornburg, summarized the background: the allocation-area expansion updates parcel boundaries to match changes in the building footprint and follows approvals from the planning commission and city council. Meeks said the process…
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