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Redevelopment commission approves New Carlisle EDA amendment, authorizes up to $5 million in bonds
Summary
The St. Joseph County Redevelopment Commission approved a declaratory amendment to the New Carlisle Economic Development Area to designate AWS‑related parcels and create allocation area No. 5, and authorized special‑district bonds not to exceed $5 million to fund property acquisition and infrastructure; both measures passed unanimously (4–0).
The St. Joseph County Redevelopment Commission on a unanimous vote approved Resolution 2024‑15 to amend the New Carlisle Economic Development Area (EDA), designating parcels tied to an Amazon Web Services project as designated taxpayers and creating a new allocation area intended to support property acquisition and local infrastructure.
Bill (staff) told commissioners the amendment adds about 33 properties to the acquisition list, for roughly 50–51 properties total when combined with parcels already in the EDA, and emphasized that inclusion on the acquisition list does not guarantee acquisition. The amendment also creates allocation area No. 5 to coordinate projects such as a potential south shore station site, bike‑and‑ped connections across the railroad, and related property development.
The commission then approved Resolution 2024‑16, authorizing the St. Joseph County Redevelopment District to issue special‑taxing‑district bonds to fund property acquisition, road improvements, and utility infrastructure serving the New Carlisle EDA. Tom Everett of Barnes & Thornburg summarized the financing parameters, saying, “the total principal amount of the bonds would not exceed 5,000,000 and, they would be issued at an interest rate not exceeding 7%.” He added the bonds would be payable from an ad valorem tax on property in the taxing district but that the expectation is to repay from a pledge of TIF revenues with the tax serving as a backup. Everett noted the bond issuance will require county council approval on Oct. 8.
Commissioners raised questions about repayment sources and timing; staff said the bonding is intended to accelerate near‑term property acquisitions and enable projects where immediate cash flow is insufficient. The measures passed with aye votes recorded from Lane, Goebel, Horvath and Jordan. Staff said property owners in the affected area will receive formal notice ahead of a confirming public hearing scheduled for Oct. 8.
Next steps: county staff will coordinate required notices and present the bond authorization to the St. Joseph County Council for final approval on Oct. 8. Any awards or acquisitions tied to the EDA changes remain contingent on further approvals and, where noted, receipt of required financial statements.
