The Carmel City council will consider two proposals aimed at boosting economic development in the Hamilton County city. One includes an investment of $76 million for new roundabouts, multi-use paths and an attraction featuring a more than century-old antique carousel.
The city says the hand-carved 1907 Dentzel carousel, will be housed within its own building at an as-yet undetermined location. The building will provide year-round access to the carousel for families, as well as space for private and public events. The $76 million plan also includes nearly a dozen other road and infrastructure projects.
The second proposal will allow the city to issue $25 million in bonds for future land purchases by the Carmel Redevelopment Commission. Carmel Mayor Jim Brainard says both proposals, which would be financed without raising taxes, are part of the city’s economic development strategy.
"Strategic investments in our quality of life in Carmel have proven successful to our economic development strategy of attracting new businesses and corporate headquarters, whose contributions help keep our local property tax rates among the lowest in the state of Indiana," said Brainard. "It is important for us to continue investing in our future and we can do this without raising taxes because we have a robust and diverse local economy and have demonstrated strong fiscal management, as was made clear during our most recent bond rating."
The projects that would be part of the $76 million proposal include:
- 106th Street and Hazel Dell Parkway
- 3rd Avenue and Carmel Drive
- 3rd Avenue and City Center Drive
- Medical Drive and Carmel Drive
- East 4th Street and Main Street
- 6th Street and Range Line Road
- Gray Road
- Monon Greenway expansion near City Center
- 136th Street from Range Line Road to Keystone Parkway
- Antique Carousel, including building and land
- New autograph hotel at City Center project
- Civic Square storage and maintenance buildings
- Duke Energy transmission lines burial project (116th & Range Line Road area)
- Brookshire Golf Club improvements (new clubhouse)
- Range Line Road streetscape (Phase 2)
- River Road from Community Drive to 146th Street
- Completion of Cherry Creek Boulevard from Mississinewa to James Dean
- Legacy public site work (bike promenade, storm-water park, new intersection)
- 2nd Avenue NE from Main Street to 1st Street NE
- 3rd Avenue from Carmel Drive to City Center Drive
- Office Suites on 1st Avenue near Monon Greenway