Brainard to seek $2 million in property, income taxes for arts center

Brainard to seek $2 million in residential property, income taxes for arts center
Money would go towards the center's operating costs
Current in Carmel

Mayor Jim Brainard has repeatedly stated that no residential property taxes will be used to fund The Center for the Performing Arts, but now he is expected to ask the City Council to dip into those funds.

At the March 1 council meeting and again to Current in Carmel last Thursday, Brainard said the operating costs of several big projects - including the arts center - will be "miniscule" and should be easily funded with tax increment financing (TIF) money and other sources aside from residential property taxes. But at the April 19 council meeting, Brainard is expected to ask council members to approve dipping into a reserve fund comprised of residential property and income tax dollars to assist with the operating costs of the arts center, scheduled to open in January. Initial operating costs for the arts center are expected be between $3 million and $4 million before escalating in later years.

The council has long been requesting financial information on the Carmel Redevelopment Commission's various projects. At the previous council meeting, a financial consultant made a presentation indicating that the CRC's projects could easily be funded without residential taxes through 2023, but the report did not include operating costs. Brainard stressed to council members that such costs would be minor in comparison, but the council said it would still like to see the data before its members could be completely satisfied. Thursday Brainard said that the operating costs will be provided to the council in another presentation at Monday's meeting and that he hoped all concerns would be resolved.