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Wednesday, September 01, 2010

Ind. Gov't. - "Carmel redevelopment no issue"

Chris Sikich reports in the Indianapolis Star:

CARMEL, Ind. —Attorney General Greg Zoeller [8/31/10] has issued a nonbinding legal opinion that finds no fault with the Carmel Redevelopment Commission’s authority to pay for the city’s massive redevelopment. * * *

The concern stems from a $45 million in installment purchase contracts which the Redevelopment Commission approved for payment to contractors in 2008 when money from the original $80 million bond for the arts center's construction was running out.

The council was never asked to approve the $45 million, despite the fact that state law requires such approval for debts of more than $3 million. Mayor Jim Brainard had maintained the installment purchase contracts do not require council approval under state law.

Here is Official Opinion 2010-3 [not posted yet]

Posted by Marcia Oddi on September 1, 2010 08:30 AM
Posted to Indiana Government