Fishers Town Council update, May 20

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What happened: Lynda Carlino, executive director of S.P.O.R.T.S., briefed the council on the state of the organization.

What it means: Carlino broke down the statistics behind the not-for-profit that provides children the chance to play both recreational and team sports. In 2012, S.P.O.R.T.S. had 11,705 participants. A scholarship fund for children in need exists, as well as payment plans. Carlino said S.P.O.R.T.S. spent $24,000 in scholarship funds so children who couldn’t pay to play, could.

What’s next: Councilor Scott Faultless asked Carlino to start thinking about how to formally recognize the volunteers that make what the organization does possible.

What happened: A resolution was adopted that authorized the town to transfer “interest in real estate to the Fishers Redevelopment Authority and appropriating proceeds therefrom.”

What it means: This resolution deals directly with funding the prospective 106th Street funding. A segment of 106th Street – Allisonville Road to Hawthorne Ridge – would be transferred to the Redevelopment Authority – which is just a single part of the process. Councilor Stuart Easley asked town manager to explain the process for the audiences. Fadness said, “This is a public financing mechanism that the town uses, and most municipalities in the state of Indiana use. … There was a constitutional limit put on the amount of debt any municipal organization can issue… Since that time, they added several standard deductions and other things that bring down our assessed value, which then means we have even less, what you would say, borrowing capability under a general obligation bond. So what this does is allow for us to issue debt by leveraging the current assets that we have – whether it’s a road, a building, any public asset that we currently own.” He said the move works the same as a property tax-backed bond, but because of the statute these steps had to be taken.

What’s next: According to the town’s timeline, more steps need to be taken before the bonds close, currently scheduled for June 20. According to Tim Gropp, assistant director of economic development, authorization for payment to INDOT is scheduled for June 3. The proposed I-69 exit at 106th Street is slated to cost the town $8 million.


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