Carmel mayor outlines public‑private plan, charrette set for January to shape Prospect’s downtown

Mayor Jim Braynard of Carmel, Indiana told the Prospect City Council on Nov. 17 that the city has assembled a team to lead a public‑private partnership aimed at creating a walkable downtown for Prospect. Braynard said the team includes master planners Jeff Speck and Mike Watkins, a civil engineering firm with local experience, a tax‑increment financing (TIF) attorney and the financial advisory firm Baker Tilly to prepare bond documentation and financial analysis.

"What you're gonna have in Prospect is something that many, many suburbs don't have, and that's a walkable, pedestrian friendly downtown," Braynard said, describing the project as an opportunity to build a central gathering place and to expand the city's tax base. He said the team has met with the developer holding a contract to buy the 'head property' (identified in the presentation as Wes Johnson and his financial backer) and with public safety officials to plan infrastructure and operations.

The presenters said a weeklong charrette is scheduled for the week of Jan. 12–16, 2026 (with key stakeholder sessions on Jan. 14 and Jan. 16). Braynard said master planners will produce preliminary sketches during that week so stakeholders can critique and refine the design. "By the end of that week, we'll hire some preliminary sketches on what a downtown could look like for Prospect," he said.

Braynard discussed funding and legal steps: the city has retained a TIF lawyer (Barnes & Thornburg working with local counsel Steitz & Harvison) and Baker Tilly will prepare the financial materials needed to market bonds. He emphasized these documents will list the public and private responsibilities in a multi‑year project agreement.

Council members asked about the annexation and statutory timeline for moving property into the city. Braynard and Mayor Doug Farnsley said they expect roughly a 75‑day statutory process for the chosen annexation method and noted a council ordinance and a petition/voter step will be required for properties with eligible voters.

The council did not take formal action on the presentation. The mayor encouraged residents to attend charrette sessions and review early sketches when they are posted, and said the next steps will include more detailed financial analysis and draft project agreements.

The presentation signals the city is moving from planning toward a structured PPP framework that will require additional approvals, legal steps and public review before any construction or bonding occurs.