Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Council adopts two TIF bond ordinances for MCI Merit project after public questions about wells and septic
Summary
Boone County adopted two TIF-backed bond ordinances for the MCI Merit project (2025-06 for personal property up to $1.7 million and 2025-07 for real property up to $4 million). A nearby homeowner urged additional protections for wells; officials said septic will be commercial and permitted through IDEM and cited APC review and developer commitments.
Boone County council adopted two tax-increment-financing (TIF) bond ordinances for the MCI Merit development at the southwest corner of State Route 47 and I-65 after a public hearing and council discussion.
Bob Clutter, representing the Redevelopment Commission, presented the ordinances during a second reading. He said ordinance 2025-06 covers personal property purchases by MCI not to exceed $1,700,000 and ordinance 2025-07 covers real property purchases expected to be purchased by the Hagerman Group not to exceed $4,000,000. Clutter emphasized these are TIF bonds only and carry no property-tax backup: if TIF revenues fall short, bondholders bear repayment responsibility.
During the required public hearing, homeowner Jodi Stewart expressed concern about water and sewage protections for adjacent homeowners, asking whether a bond or other safeguards had been required to protect wells. Stewart said she would "serve you with a notice to conserve the people's natural resources, which is water." Council members and staff responded that the project had multiple APC (Area Plan Commission) reviews, that developer commitments satisfied the APC, and that the project will use a commercial septic system approved through IDEM.
After discussion, councilors moved and approved both ordinances by voice vote.
Next steps: Adopted TIF ordinances will enable the redevelopment commission and project partners to proceed with planned financing under the terms presented to the council.
