Whitestown council approves Paget Commons economic development agreement after clarifying completion guarantee

Whitestown’s town council voted to approve an economic development agreement (EDA) for Paget Commons on March 3, 2025, with an explicit clarification that the completion guarantee described in section 3.04(c) will cover both the defined project and the additional project scope. The motion passed by voice vote, recorded as four in favor and one opposed.

The agreement commits the town to fund and construct infrastructure around the mixed‑use Paget Commons site at the intersection of County Roads 550 and 575 and contemplates financing through tax‑increment financing (TIF) bonds supported by new property tax revenue from the project and “over‑performance” in existing TIF areas. The EDA includes a taxpayer agreement that, according to the EDA exhibits discussed in the meeting, would commit approximately $1 million per year in incremental property tax payments from the core mixed‑use components. The council’s approval included the explicit amendment that the completion guarantee in 3.04(c) applies to both the project and the additional project scope.

Why it matters: Council members and residents pressed for clearer protections in the event the project is partially completed or the developer cannot finish construction, and they debated how much of the town’s existing TIF capacity would back this project. Supporters say the project and the associated roadwork will unlock development around Exit 131 and boost local tax revenue; critics warned of costs if the project stalls.

Developer and municipal…