Fishers Council approves bond measures, property-maintenance update and a tax abatement for relocating biopharma

The Fishers City Council on July 21 approved a package of economic development and regulatory measures, including bond ordinances linked to the Grey Eagle Golf Course project, a confirmatory resolution to establish an economic revitalization area (ERA) and tax abatement for a biopharmaceutical company relocating to Fishers, and amendments to the city’s property-maintenance code.

Lisa Bradford, Fishers city controller, told the council the council had previously approved first reading of the bond ordinances tied to two portions of the Grey Eagle project — one for the golf course and one for age-targeted multifamily housing — and that the project agreement had been updated to allow interest proceeds to be split between the golf course and the multifamily developer as needed.

The council voted to approve the bond ordinances after a roll-call vote. Several councilors noted Financial Committee support for the items; the roll calls recorded affirmative votes from council members present.

Separately, Megan Baumgartner, director of Community and Economic Development, presented the final step in abatement approval for 12001 Exit 5 Parkway. She described the confirmatory resolution as necessary to finalize personal property and vacant-building tax abatements for the relocating company, which she identified as “1 11 BioPharma,” a California-based biopharmaceutical compounding pharmacy group relocating to Fishers. The council initially approved the item but then reconsidered to hold the required public hearing; after reopening the hearing, no members of the public spoke on that item and the council approved the confirmatory resolution.

Lindsay Bennett, corporation counsel, presented the second and final reading of the city’s property-maintenance code update, saying the only change since first reading was additional language clarifying sign repairs and who can enforce the ordinance. The council approved the change by roll call on final reading.

At the community-comment portion of the meeting, resident Matthew Brands challenged the Grey Eagle transaction and its tax impact, saying the project represents foregone tax increment revenue he estimated at “$5,300,000 in lost tax revenue” over 25 years and questioning job estimates and long-term need for another golf course. Councilors acknowledged the comment and noted the approvals followed the required notice and approval processes for bond and economic-development measures.

All ordinances and the confirmatory resolution were approved by the council in roll-call votes during the meeting. City staff said they will complete required post-approval steps for abatement finalization and bond issuance and will publish related documents from the executive session as required by counsel.

Votes at a glance: bond ordinances for Grey Eagle (approved), confirmatory resolution establishing ERA and abatements for 1 11 BioPharma at 12001 Exit 5 Parkway (approved after reconsideration and public hearing), property-maintenance code update (approved on final reading).