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Fishers redevelopment commission approves developer-purchased bonds for Great Eagle clubhouse and adjacent age‑targeted housing
Summary
The Fishers Redevelopment Commission voted to approve two developer‑purchased bond resolutions tied to improvements at Great Eagle Golf Course and a connected age‑targeted multifamily project, following a public hearing in which a resident questioned the use of tax increment financing and job projections.
The Fishers Redevelopment Commission voted to approve two resolutions authorizing series 2025 bonds to finance improvements at Great Eagle Golf Course and an adjacent age‑targeted multifamily development, after a public hearing and staff explanations of how the tax increment would be used.
Commission staff said the project at “Great Eagle at 326 and Brooksville Road” includes two pieces: a new clubhouse with restaurant bays and an age‑targeted multifamily component to be developed by JC Hart, described in staff remarks as a mix of paired patio homes and traditional apartment units for seniors. Staff described both bond issues as developer‑purchased bonds, meaning the developer, not the city, would bear repayment risk.
Why it matters: the city will capture tax increment generated by new improvements to repay debt service on the bonds, rather than directly underwriting the debt. During public comment, a resident raised…
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