Fishers City commission considers pledge of tax‑increment revenue to back Union and Crossing bonds

At a public meeting, the Fishers City commission reviewed a pledge resolution that would commit tax‑increment revenue from the Crossing allocation area to back developer‑issued bonds for the Union and Crossing development. Staff said the project is under construction south of the Union and ties into the event center and mixed‑use components.

"This is related to the Union and Crossing project agreement," a staff member said, and added that the developer is preparing to close on bonds in August. The presenter described the residential component as "200ish multifamily units" and said the bonds would be developer backed.

The presenter said the pledge resolution would "pledge[ ] the site specific tiff from the Crossing allocation area," and would also pledge, on a junior basis, tax‑increment from the Stations and District allocation areas, which were referenced in the project agreement.

Commissioner Dustin Meeks confirmed the description, responding "yeah, that's that's correct." The presenter also said the commission had previously created the allocation area and that this was the only approval item related to these redevelopment bonds for the commission at this time.

A motion to adopt the pledge resolution was made and seconded by Dan. When the chair called for those in favor, the transcript records at least one participant saying "No." The provided transcript segments do not include a complete roll call or a final tally for the motion.

Because the transcript stops before a clear recorded outcome is provided, the record in these segments does not show whether the resolution was adopted or defeated. The pledge would commit future tax‑increment revenue to servicing the developer‑backed bonds if approved, a financial step that can affect future revenue available for other projects in the allocation area.