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Carmel Redevelopment Commission approves Clay Terrace interlocal correction, extends attorney engagement
Summary
The Carmel Redevelopment Commission on Wednesday approved a corrected interlocal agreement for the Clay Terrace redevelopment area and renewed outside legal services for 2025.
The Carmel Redevelopment Commission on Wednesday approved a corrected interlocal agreement for the Clay Terrace redevelopment area and renewed outside legal services for 2025.
The commission voted to approve Resolution 2025-01, which amends the Clay Terrace interlocal agreement to clarify that funds collected into the city’s tax-increment financing (TIF) areas and paid over to the county may be used first for debt service and then for improvements along 146th Street. The commission also approved a one-year engagement letter with Wallach, Summers & Haas, with staff noting a $50 increase to the firm’s top partner hourly rate.
The Clay Terrace interlocal agreement governs TIF proceeds and development coordination for two parcels near the intersection of Keystone and U.S. 31 at 146th…
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