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Redevelopment commission approves North End Phase 3 allocation, TIF pledge and Phase 2 project agreement
Summary
At its regular monthly meeting the Carmel Redevelopment Commission unanimously approved three resolutions establishing an allocation area for North End Phase 3, pledging TIF for a North End Phase 2 bond and authorizing a project agreement that sets unit counts, parking easements and affordable/age-restricted covenants.
The Carmel Redevelopment Commission at its regular monthly meeting approved three linked actions to move the North End development toward construction: a confirmatory resolution creating a North End Phase 3 allocation area, a tax-increment financing (TIF) pledge for a North End Phase 2 bond, and a Phase 2 project agreement that sets development and affordable-housing commitments.
The commission voted unanimously to adopt resolution 2025-16 to confirm the North End Phase 3 allocation area, which carves a new allocation area out of the existing Smoky and Monon Phase 2 area. Commission members then approved resolution 2025-17 to pledge 90% of the annual TIF for the Phase 2 project, subject…
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