When Fishers Mayor Scott Fadness revealed his plans to build a new city hall along with ambitious arts & community centers, he indicated confidence that what he calls “quality of life” projects could be constructed without an increase in the city tax rate.  Speaking before the City Council Finance Committee Wednesday evening, the mayor provided an early hint as to how he plans to accomplish this.

Fadness presented a chart showing how debt payments owed by the city will begin to fall starting after 2024.  The mayor says the new city hall, possible adjoining arts & culture center as well as the large community center could be financed beginning in 2030 or 2031, without a hike in the city tax rate.

Deputy Mayor Elliott Hultgren, speaking to LarryInFishers after the meeting, said the buildings should be completed and in use well before 2030, even with the debt for the projects being issued in 2030.

The mayor went through completed projects the city has financed over the past 8-10 years…such as the new police and fire headquarters, building out more of the city’s fire station system, State Road 37 construction, improvements on Allisonville Road and the 106th Street I-69 interchange.

“I think we are in a really good place as you see we kind of crescendo with debt payments in 2023 and 2024,” Fadness told committee members.  “We are exceptionally confident that we wouldn’t be seeing a tax increase due to that debt (crescendo) in 2023 and 2024.

Fadness promised the council committee more details on the “quality of life” projects soon.

“We’re going to refine those numbers and come back to you at a later date to start talking through the actual financial instruments,” said the mayor.