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Fishers City approves Buckingham project and $6.1 million to facilitate JD Sports headquarters
Summary
Fishers City Council approved a redevelopment project agreement with Buckingham Companies and a purchase agreement that includes a $6.1 million city contribution to enable JD Sports’ North American headquarters, secure parking easements and fund road and infrastructure work tied to a new fieldhouse and multifamily development.
A city staff member told the council that two linked agreements — a Buckingham Companies project agreement and a purchase agreement tied to JD Sports’ proposed corporate headquarters — will support a large mixed-use development and secure parking and road access for event days.
“They plan to bring 400 new jobs … with plans to add an additional 250,” the staff member said, describing JD Sports’ employment plans for the site. The staff presentation said Buckingham’s master development includes a 166-unit multifamily phase and 88 for-rent units, a 180,000-square-foot fieldhouse to house Ignite’s headquarters and training facilities, and an allocation area designed to capture tax-increment financing (TIF) from both the fieldhouse and the multifamily project.
Under the purchase agreement explained to the council, Buckingham Companies will close on the existing link building and JD Sports will ultimately purchase the building. The city will contribute $6.1 million to lower the purchase price; staff said that amount secures a perpetual parking easement across the link parking area on event days, gives the city ownership of USA Drive as a public road, and conveys two outlots positioned for retail or commercial development.
Staff framed the $6.1 million contribution as a lower-cost alternative to building a replacement parking garage. The presentation cited an estimated $25,000–$30,000 per parking space for a garage and noted that replacing about 800 spaces could exceed $45 million, making the acquisition approach more economically attractive to the city.
Council members then moved and seconded a resolution approving the Buckingham project agreement and a second resolution approving the purchase agreement. The transcript records voice votes marked as “I” and the chair announcing the motions carried; the transcript does not record individual vote tallies or the names of who moved or seconded.
The staff member said Buckingham will construct a Maynard Lane extension through the site to public-road standards and that some private roads through the site will be reconfigured as part of the development. The staff presentation also said Buckingham will initially receive abatement benefits and will capture TIF increment after an initial 10-year abatement period for the fieldhouse expires.
The council’s approvals set the agreements up to close: staff said the closing on the purchase was hoped to happen the following week, and Buckingham’s master plan and the city’s project agreement will guide subsequent infrastructure and development steps.
