Redevelopment commission agrees to pursue authority and lease‑rental bond to finance Whiteland roundabout

Whiteland, Ind. — The Whiteland Redevelopment Commission on July 10 voted to proceed with creating a redevelopment authority and to pursue a property tax lease‑rental bond to finance a roundabout at Bobglinton and Main Street, the commission’s staff said.

The vote to proceed — taken by voice roll call after a staff presentation and questions — starts a public process that will include a public hearing and separate approvals by the Whiteland Town Council and bond counsel before any money is borrowed.

Why it matters: The financing structure presented would let the town use future tax settlements to repay the bonds without immediately “starting the clock” on the town’s tax‑increment financing (TIF) area, officials said. The proposal would fund construction of the roundabout, include public artwork and purchase six license‑plate‑reader cameras and a first‑year subscription; the bond package is “just under 2½ million dollars,” staff said.

Carmen, a staff member leading the presentation, told commissioners that the structure under consideration is a property tax lease‑rental bond issued by a redevelopment authority. “This particular bond would not impact our taxpayers,” Carmen said, explaining the plan to earmark future tax settlements to make debt service payments rather than levying an additional tax. Adam Stone, the town’s financial consultant, and other advisors have worked on similar road projects, staff said.

Steven, a staff member who addressed legal structure, said the financing is intended to avoid pledging TIF revenue directly — a step that, under state practice discussed with bond counsel, can trigger the TIF “clock.” “It’s gonna be a combination of three factors,” Steven said, including using at least two other revenue sources and structuring the bonds through a separate redevelopment entity.

Commissioners asked how the bonds would be repaid and how long the term would be. Staff said drafts allow for 10‑ to 12‑year lease terms, with the draft public‑hearing notice showing up to 12 years; bond counsel and market conditions would determine final terms. Staff gave a working estimate that average annual payments could be about $320,000 over a 10‑year schedule.

The project plan also includes installation of six Flock license‑plate‑reader cameras; staff said the town would buy the units and cover the first year of subscription service in the bond, with ongoing subscription costs then moving to the police budget. Staff estimated subscription fees at roughly $2,500–$3,000 per camera per year.

Construction timing and traffic impacts: Staff said property owners have given a right of entry for a temporary access alignment near the Amazon building on the project site, which would allow the west leg of the intersection to be closed during work. Partial construction could keep traffic moving; staff estimated a partial‑work timeline of roughly 90–110 days, while a complete closure could reduce the work window to about 60 days but would block access to nearby warehouses and require coordination with county roads and truck routing.

Next steps and approvals: Commissioners gave consensus to move forward with publishing a public‑hearing notice and creating a redevelopment authority; the town council must separately approve the financing plan and the authority’s creation. Staff also agreed to invite bond counsel to the next meeting for a fuller legal briefing and to continue refining revenue projections and draft documents.

The commission’s action is an initial authorization to proceed; no debt was issued at the July 10 meeting and the town council will make any final borrowing decisions.

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Sources: Presentation and discussion at the July 10, 2025 Whiteland Redevelopment Commission meeting; staff remarks and exchanges with financial consultant Adam Stone and staff member Steven.