Carmel committee hears Edward Rose proposal for 22-acre PUD on Michigan Road; tax, connectivity and industrial-zoning loss top concerns

Developer Edward Rose sought approval of a planned unit development (PUD) for about 22 acres along US 421/Michigan Road at the Carmel Land Use Committee meeting on June 18, a proposal that would allow up to 360 multifamily units on the site.

The proposal drew both support for reactivating a long-neglected area and concerns over tax impacts, loss of industrially zoned land, wetland constraints and road connectivity. Committee members and project representatives discussed tax projections, the local TIF (tax-increment financing) allocation, state changes under "Senate Bill 1," and potential future local income-tax options.

John Davichiewicz, a land-use professional with Nelson and Frankenberger representing the project team, told the committee the site is currently inside a county TIF allocation area that will expire in the 20302031 timeframe and that Edward Rose "have no plan to seek TIF assistance through the county and or city" for the project. Davichiewicz said the property now generates about $240,000 in taxes annually and that a full multifamily build-out would be expected to produce about $1,100,000 annually in property taxes once fully…