Economic Development
Andretti Autosports Financing
8. 091922E - An Ordinance of the Common Council of the City of Fishers, Indiana, Authorizing the Issuance of the City of Fishers, Indiana Economic Development Revenue Bonds and Authorizing and Approving Other Actions In Respect Thereto
- 2nd Reading: Council Action Form I Exhibit A I Ordinance
The $200 million facility will create 500 new high-paying jobs for the area and house Andretti's IndyCar, Indy Lights, IMSA programs, and a neat destination museum. The bond sold will be used to develop roads, sewer connections, proper drainage, and trail connections to the campus and will be paid back to Fishers with the property taxes they pay. The development will break ground next month and finish in 2025.
96th & Allisonville Financing
9. 091922A - An Ordinance of the Common Council of the City of Fishers, Indiana, Authorizing the Issuance of the City of Fishers, Indiana Taxable Economic Development Revenue Bonds and Authorizing and Approving Other Actions In Respect Thereto -
2nd Reading; Council Action Form I Exhibit A I Ordinance
The bond will be used to construct the roads leading to the new White River park and other infrastructure required. The developer is assisting with the new 96th St and Allisonville Roundabout by donating the needed land.
10. R111422C - A Resolution of the Common Council of the City of Fishers, Indiana, Approving Certain Matters in Connection with an Amendment to the Declaratory Resolution for the Consolidated Fishers/I-69 Economic Development Area, the Creation of a New Allocation Area and the Approval of a Plan Amendment for Said Area (Project REV):
Council Action Form I Exhibit A I Exhibit B I Resolution
The new Downtown Fishers Condo project next to the Nickel plate trail will be set up in a Tax Increment Finance District (TIF). The allocation area will collect property taxes to pay the bond for the infrastructure of the building. The condo will reduce your property tax rates one day because of the property's sizeable assessed value.