Council approves Grey Eagle bond ordinances; residents raise concerns about tax abatement

Fishers City Council approved two bond ordinances and related economic-development terms for the Grey Eagle Golf Course redevelopment at first/second readings, including an adjustment to split interest proceeds between the golf course and an age-targeted multifamily developer.

The project agreement includes two separate bond documents — one for the golf course portion and another for the multifamily, age-targeted housing portion — and a modification allowing interest proceeds to be split between the two components. Controller Lisa Bradford explained the change and said it had been agreed to by the project team.

During public comment later in the meeting, resident Matthew Brands criticized the tax abatement associated with the Grey Eagle project, estimating a $5.3 million loss in tax increment over 25 years and arguing that the city’s budget burden ultimately shifts to other taxpayers. Brands said the city provided project data late in the process and questioned whether demand for golf justifies subsidizing another course; he said, “Golf demand for golf is declining. Maybe we only need 3.”

Council voted on the related motion(s) and took roll-call votes to pass the bond ordinances as presented. Motion language provided by staff was approved and the council recorded aye votes from members present; items passed per roll-call (detailed votes recorded in actions). No public opposition during the bond vote was recorded at the time of ordinance passage.

Officials noted the economic-development framework and final confirmatory resolution for related items would be processed according to the project agreement; separate public hearings and votes were held where required. Council later reopened and held a public hearing on the confirmatory resolution for the ERA tied to a separate company relocation (see separate article on 111 BioPharma).