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Plan Commission approves TIF allocation-area resolutions for Gramercy development
Summary
The Carmel Plan Commission on May 20 recommended approval of three resolutions to establish multiple tax-increment financing allocation areas to support the multi-phase Gramercy project; the items will next go to city council and the Redevelopment Commission.
The Carmel Plan Commission voted May 20 to recommend approval of three resolutions establishing tax-increment financing (TIF) allocation areas for the Gramercy development, a multipart residential and mixed-use project along Carmel Drive and adjacent parcels.
The resolutions, described during the meeting as CRC Resolution No. 2025-02, 2025-03 and 2025-04 and submitted to the commission as PC-5-20-25-a, -b and -c, would terminate allocation provisions of earlier declaratory…
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