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Commission approves first step to create North End Phase 3 allocation area in Old Town plan
Summary
The commission approved Resolution 2025‑10 to begin creating a separate allocation area for North End Phase 3 in the Old Town Economic Development Area, carving out a portion to accommodate separate taxpayer agreements and a projected 25‑year allocation life. Next steps include plan commission and city council review.
The Carmel Redevelopment Commission voted to take the first step in creating a North End Phase 3 allocation area within the Old Town Economic Development Area by approving Resolution 2025‑10.
Mr. Lee, executive director, said the commission is “carving out this portion here to create a separate allocation area because there'll be different taxpayer agreements for the bonds and everything.” He added that dividing the area “just makes everything easier if we do it that way.”
Staff explained the new allocation area addresses two components—senior living units and townhomes—and that the portions will follow separate taxpayer agreements and bond structures. Mr. Lee said the areas will each have a 25‑year life.
Mr. Lee outlined the procedural path: after the commission’s action, the amendment will go to the plan commission and city council before returning to the commission for a confirmatory resolution.
Mariana called the roll for the motion to approve Resolution 2025‑10; President Hammer, Vice President Bowers and Counselor Austin each voted aye.
