Brownsburg redevelopment commission approves Parkway Corridor economic development area

On March 4, 2025, the Town of Brownsburg Redevelopment Commission adopted Resolution 2025-1, a declaratory resolution establishing the Parkway Corridor Economic Development Area (EDA) on the town’s northeast side along the future west side of the Ronald Reagan Parkway.

The resolution creates a designated area where new tax revenue generated by development can be captured and reinvested in local infrastructure such as water and wastewater utilities, road upgrades and intersection improvements that staff said will be needed to allow development to occur. "Establishing the Parkway Corridor EDA gives the town the ability to use new tax revenue generated here, to help fund infrastructure improvements and attract new development to the area," town staff member Mr. Pierce said during the presentation.

Mr. Pierce told the commission the bulk of the proposed EDA is the Heche and Maloney property, which voluntarily annexed into Brownsburg last year. He said the town and Hendricks County have discussed the area and that Town Manager Cook spoke with Hendricks County Commissioner Denny Dawes to notify the county of the town’s plans. "The county economic development area in this location totals 108 parcels," Mr. Pierce said, and the parcels that would fall in the town’s proposed EDA represent roughly 3% of that county area.

Mr. Pierce provided more detail on the overlap: seven parcels overlap with the county’s economic development area; four of those are right-of-way parcels associated with the future Ronald Reagan Parkway, and three are developable parcels. He said the right-of-way parcels are included because an EDA typically includes adjoining rights of way and that the town would still benefit from construction and extension of the Parkway.

During public comment, resident David Wyant asked the commission for clarity about what communications the town had had with the county regarding any tax-increment financing or other attempts by the county to recover expenses related to construction of the Ronald Reagan Parkway. "If folks here can provide some clarity into what collaboration or communication this body has had with the county…that would be appreciated," Wyant said. Mr. Pierce and other commissioners confirmed prior conversations with county representatives and said county officials had expressed minimal concerns.

Commission members asked staff to clarify technical points: one member asked why right-of-way parcels were included; Mr. Pierce replied they are included because the Parkway will run through those parcels and EDAs commonly include adjoining right of way. Another member asked whether an economic-impact study had been done; Mr. Pierce said, "you don't typically do [an] impact study when you're creating an economic development area," and reiterated that the EDA is intended to capture new revenue to reinvest in infrastructure.

Commissioners also asked about the type of industrial development the town would seek. Mr. Pierce pointed the commission to the Unified Development Ordinance (UDO) for specific zoning definitions and said the town would assess any proposed project for compatibility with surrounding homes; he compared the intended development to existing light-industrial and commercial development near the Reagan Parkway exit on Brownsburg’s south side.

The commission voted to approve the declaratory resolution by voice vote after a motion and second; no roll-call tally was recorded on the record. Following the RDC approval, staff outlined the next steps: a plan commission review on March 19, town council consideration on March 27, and a return to the Redevelopment Commission on May 6 for a public hearing and consideration of a confirmatory resolution.

The meeting also included a presentation of the town’s 2024 economic development annual report. Staff highlighted Arbuckle 2, a mixed-use development built by Flaherty & Collins in the Arbuckle Commons area on Green Street that opened in June 2024, includes about 100 apartments and roughly 3,600 square feet of retail space and was reported as 96% leased as of February 2025. Staff also reported 11 new industrial buildings recently completed in Brownsburg representing a little under $200 million in capital investment: eight are fully leased, two are partially leased and one—opened in August 2024—remains available.

The RDC asked no further questions and signed routine documents requested by staff. The meeting adjourned after the commission completed its agenda.