By Nancy Edwards
Fishers may see a $100 million investment in the future, provided that the town adopts the proposed 1 percent food and beverage tax.
Town council member Scott Faultless announced that an unidentified source is considering investing $100 million in Fishers, during the second hearing for the potential food and beverage tax on Nov. 18 at Fishers Town Hall.
“There is a deal, there is a plan,” he said of the investor’s intentions. “Unfortunately, I can’t tell you (what that is). One thing is for certain, if we don’t pass this, that deal goes away.”
The proposed tax is to be used for either property tax relief or economic development. Although no plans have been announced, council member John Weingardt said he would be in favor of using the additional tax to support Hamilton Southeastern Schools. HSE may be facing budget cuts of $250,000 for the 2014-2015 school year.
The additional funding could support five to six teachers, according to Weingardt.
Council member Renee Cox stood by her decision to oppose the additional tax, stating that she believes the town can still bring in economic development by bringing in new businesses, which prompted responses from other council members, including Stuart Easley.
“You can’t just go out and wish businesses to come,” Easley said. “I caution Renee to think about her foundation of logic.”
Faultless reminded Cox that she signed a letter in favor of the food and beverage tax in March 2012.
“You said ‘I want every small town and city to prosper’ when there were no tools to develop (economic plans),” Faultless said.
Cox replied that she did not know the facts and numbers when she signed the letter.
“I have all the information now, and I’ve made a decision based on the information,” she said. “I still stand (by my decision).”
The council will vote on the tax Dec. 2.