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Council approves Trace Commons PUD; debate centers on proposed Shady Nook roundabout and TIFF projections
Summary
Council adopted the Trace Commons PUD (Ordinance 26-08), a mixed-use, trail-oriented project. Staff presented revised 2026 assessed-value and TIFF projections that increased expected city and school revenues; councilors pressed staff on whether the Shady Nook roundabout is guaranteed and how INDOT participation and funding will be secured.
The Common Council voted 5–2 to adopt Ordinance 26-08 approving the Trace Commons planned-unit development, a mixed-use, trail-oriented project located along State Road 32 and the Midland Trace Trail.
Kevin Todd of the Community Development Department told the council that updated 2026 assessments raised the projected finished-assessed value for the project (previously estimated at about $59.5 million) to $69 million. Using a 60/40 TIFF split, staff estimated an annual tax-increment of about $1.24 million by 2030, with roughly $496,000 net to the city and $148,000 annually to the schools under current projections. Todd said the city will apply the first $1 million of city TIFF to fund a new roundabout at Shady Nook; construction is estimated to begin in 2028 and finish in 2030 under the current INDOT timetable.
Developers and their representatives—Matt Skelton and Peter Murphy of Church Hill/Level Two Development and John Nail—presented design and commitment details. Skelton said the PUD includes specific tree-preservation language, limits on bank uses, and commitments that restrict rental units in one townhome area unless the council later approves a change. The team also agreed to temporary tree-fencing and additional mounding and plantings to respond to neighbors’ concerns about sight lines and headlight impacts.
Council debate focused on whether the Shady Nook roundabout is assured: staff said INDOT has designed for the roundabout and is drafting an interlocal agreement that would require the city to cover an identified $1 million cost difference; design and land-acquisition work is reportedly underway. Several councilors said they support the PUD but remain concerned that the roundabout is not guaranteed and could affect how some members vote on dense residential elements. The ordinance passed after roll call.
