Whitestown EDC approves up to $17.5 million in bonds to refinance Bridal Oaks, fund Mills on Main

The Town of Whitestown Economic Development Commission voted Oct. 6 to approve Resolution 2025-02 authorizing up to $17,500,000 in economic development revenue and refunding bonds for projects described as Mills on Main and Bridal Oaks.

Commission members heard a staff overview that the proposal would refund outstanding bonds tied to the original Bridal Oaks pledge area and issue new bonds to support a Mills on Main tax-increment financing (TIF) district and a parcel reserved for future completion of Phipps Lane. A town staff member said the combined maximum amount under the proposal would be $17,500,000 and that the item also corrects a typographical error in the exhibit—“Phipps Lane,” not “Phillips Lane.”

Why it matters: The refunding and new issuance would change which parcels are pledged to existing bonds and help fund infrastructure necessary for a planned multifamily project and associated retail and commercial space. The commission’s action moves the financing step forward but does not by itself construct the projects; it is part of a sequence that also involves the redevelopment commission and the town council.

Town staff described the broader Bridal Oaks area as generally north of Albert S.…