Brownsburg EDC approves framework for developer bonds, greenlights TIF-backed retail project

Chair Annette Brown opened a public hearing on Resolution 2026-01 EDC and the Economic Development Commission voted that evening to approve a bond-and‑TIF financing framework to help secure a major retail project at the northeast corner of the Ronald Reagan Parkway and I‑74 interchange.

Ethan, a town staff member who summarized the resolution for the commission, described the financing structure and project estimates. He said, “These investment numbers are what's reflected in the resolution you'll be considering tonight,” and outlined an initial phase of roughly $142,000,000 to develop an estimated 500,000 square feet of retail and create about 650 jobs, with the scope possibly expanding later.

Under the approved framework the town would commit 50% of the tax‑increment financing (TIF) revenue generated by the development to repay developer‑purchase bonds issued to fund site development and construction, while the other 50% of TIF revenue would be retained by the town. Ethan told commissioners the developer‑purchase bond structure “does not impact or interact with the town's tax rate in any way” and that “the developer assumes the risk.” He added the maximum bond amount being considered is $24,000,000.

Commissioner Bob McLaughlin moved to approve the issuance of bonds and other actions related to the proposal; Mike Dehner seconded. Commissioners recorded affirmative votes and Chair Brown declared Resolution 2026‑01 EDC approved. The approval advances the matter to the town council and the redevelopment commission for further consideration.

The staff presentation and subsequent vote closed without public comment; Ethan asked members to remain briefly after the meeting to sign required documents. The resolution authorizes the town to continue negotiating incentive terms but does not itself finalize a development agreement, which will be subject to later plan and permitting reviews.