Committee approves technical correction to US‑31 ramps interlocal agreement with Hamilton County

The Carmel Finance, Utilities, Rules & Safety Committee voted May 28 to send ordinance D‑2773‑25 to the full City Council with a positive recommendation. The ordinance reinstates language omitted from an earlier interlocal agreement between the city and Hamilton County concerning the US‑31 Ramps Economic Development Area.

Henry Mostesky, Carmel Redevelopment Director, told the committee the prior interlocal did not include a section authorizing Hamilton County to apply new allocation‑area revenue to pay existing debt or to issue new bonds backed by future TIF (tax increment financing) revenue. The corrected language, highlighted for the committee, restores both authorities so the county may either retire existing debt or borrow against future allocation area revenue.

Mostesky said the corrected version has already been approved by the other signatories — the Carmel Redevelopment Commission, the Hamilton County Commissioners, the Hamilton County Council and the Hamilton County Redevelopment Commission — and is before the Carmel City Council to finalize the interlocal. Committee members asked clarifying questions; one councilor said he had reviewed the material with Mostesky and was comfortable with the correction.

The committee voted 4‑0 to send the corrected interlocal agreement to the full council with a positive recommendation.

Ending note: Redevelopment staff said they expect related allocation‑area ordinances to appear on the City Council agenda at the council’s next meeting.