The numbers don’t add up

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The statistics gleaned by CNN/Money seem to have been fed by the Mayor’s magical numbers team.

What is quite interesting is to compare statistics compiled by www.city-data.com in 2009 as a comparison to the supposedly current statistics. That year gives a picture of the economy in the throes of recession, and it seems questionable thatCarmelhas had such an astonishing recovery.

Carmel’s median family income in 2009 was $87,133. For that number to increase by 38.5 percent to $120,714 appears incredible in the midst of a recession. If that number is correct, it may be due in large part to the Clay annexation and not necessarily through any action by the Mayor.

Per capita income inCarmelin 2009 was $43,515. Interesting that CNN/Money did not report the current figure.

Carmel’s median home price in 2009 was $295,900. If the current asserted figure of $268,750 is correct, that is a 10 percent overall loss in property values. It may still be dropping given the recent property assessments.

The rosy story in the article gives the same picture I saw when I first came toCarmel. What I experienced was a clean, good-looking suburb with nice buildings, plenty of trees (many visible ones have now been cut down) and convenient roadways. What is missed in the story is the underlying political and financial situation inCarmel.

Notwithstanding the fact that there is hardly a commercial building in the city that does not have a for-lease sign attached, the Monon Center facility is operating at a consistent loss, the Performing Arts Center has impacted both residential and commercial taxes by more than $7.5 million this year alone, the Arts and Design District is an arbitrary success and many businesses and restaurants are having difficulties staying in business.

Carmelmight be a wonderful-looking city on its face, but any and all new residents will be faced with the problems that have been or are yet to be created by this city government. I believe that CNN/Money should investigate the underlying city condition, rather than totally relying on data supplied by the government.

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