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Whitestown RDC approves Paget Commons financing steps, creates new TIF and hires construction inspector
Summary
The Whitestown Redevelopment Commission on a unanimous vote approved a package of financing and implementation steps for the Paget Commons development, including approval of draft financing documents, creation of a separate TIF allocation for Paget Commons, consolidation of nearby economic-development areas into a single I‑65 consolidated area, and a construction management and inspection contract for the project.
The Whitestown Redevelopment Commission on a unanimous vote approved a package of financing and implementation steps for the Paget Commons development, including approval of draft financing documents, creation of a separate tax-increment finance (TIF) allocation for Paget Commons, consolidation of nearby economic-development areas into a single I‑65 consolidated area, and a construction management and inspection contract for the project.
The actions are intended to let the town finalize bond terms and to provide an owner’s technical representative to speed design review, construction administration and testing for the 550 South / 575 East Paget Commons infrastructure.
Staff member Kyle described the financing resolution (2025-06) as approval “of the form of financing documents, including the trust indenture, an addendum to the lease, the bond purchase continuing disclosure agreement, and the official statements,” subject to further revisions and final signoff by the Redevelopment Commission president. He said the forms are expected to be refined…
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