Chris Sikich

IndyStar

Carmel has released a preliminary timeline for construction on up to 32 new roundabouts, including an interchange at 96th Street and Keystone Parkway, and other infrastructure projects for the next three years.

The city on May 5 closed with Huntington Bank on a bond package valued at $257 million that includes a 2.95 percent fixed interest rate over 20 years based on the city's AA-plus bond rating. About $229 million will be available for projects. The remainder will cover fees and debt service.

The city estimated that to pay back a portion of the bonds, property taxes would rise $13.70 for a homeowner with a $150,000 house and $20.53 a year for a homeowner with a $200,000 house, based on standard deductions. Owners of homes valued at more than $255,000 would see no increase because they have reached the constitutional cap of 1 percent of gross assessed value. Existing revenues will pay for the majority of the work.

Carmel also will partner with other local governments and apply for federal funding for some of the projects.

The most expensive project, the Keystone interchange, will cost $40 million and be built from 2017-18. The county will contribute $2 million.

Here is a list of projects with a timeline:

2016 projects

Rangeline Road drainage improvements to begin this summer.

Widening Hazel Dell Parkway from Cherry Tree Road to 146th Street to begin this summer.

Roundabout at Carey Road and 136th Street to begin this fall.

Roundabout at Carey Road and Hawthorne Drive to begin this fall.

Roundabout at Pennsylvania Street and City Center to begin this fall.

Roundabout at 116th Street and Gray Road to begin this fall.

Roundabout at Carmel Drive and Rangeline Road to begin this fall.

Roundabout at Towne Road and 116th Street to begin this fall.

Foster Estates storm

Monon drainage improvements to begin this fall.

Old Town drainage improvements to begin in fall.

Summer 2016 to 2018

Subdivision drainage improvements will begin in Carmel Meadows Green Tree Estates, Carmel View Harrowgate, Cedar Point Ironwood, Concord Village Jordan Woodlands, Crooked Stick and Crooked Stick West Village of Mount Carmel and Wilson Village.

2017 projects

Roundabout at 96th Street and Delegates Row to begin in spring.

Roundabout at 96th Street and Gray Road to begin in spring.

Roundabout at Rangeline Road and 116th Street to begin in spring.

Monon Boulevard construction from 2nd Street to Main Street to begin in spring.

96th Street and Keystone Parkway interchange construction to begin in spring and last two years.

Roundabout at Rangeline Road and Executive Drive to begin in spring.

Roundabout at Gray Road and 126th Street to begin in spring.

Roundabout at ​Gray Road and 136th Street to begin in spring.

Roundabout at Rangeline Road and 4th Street to begin in spring.

Rangeline Road from 136th Street to U.S. 31 to begin in spring.

126th Street reconstruction from Rangeline Road to Keystone Parkway to begin in spring.

Monon Trail reconstruction from City Center to Main Street to begin in spring and last two years.

Roundabout at 96th Street and Hazel Dell Parkway to begin in summer.

Roundabout at 116th Street and Hazel Dell Parkway to begin in summer.

Roundabout at Rangeline Road and City Center Drive to begin in summer.

Roundabout at 96th Street and Priority Way to begin in fall.

Roundabout Carmel Drive and Old Meridian Street to begin in fall.

Roundabout at Gray Road and Main Street to begin in fall.

Construction to connect Keystone Way to AAA Way to begin in fall.

Roundabout at Pennsylvania Street and Carmel Drive to begin in fall.

Roundabout at AAA Way and Carmel Drive to begin in fall.

Roundabout at Carmel Drive and City Center start date undetermined.

Roundabout at Guilford Road and Carmel Drive start date undetermined.

Roundabout at Guilford Road and City Center start date undetermined.

Roundabout at Towne Road and 106th Street start date undetermined.

Rangeline Road streetscape with street parking start date undetermined.

Spring Mill reconstruction from 111th Street to Main Street start date undetermined.

2018 projects

126th Street path to be built from Keystone Parkway to Hazel Dell Parkway.

Guilford Road reconstruction from City Center to Main Street.

96th Street and Keystone Parkway adjacent roadway construction.

Roundabout at 96th Street and Randall Drive.

Roundabout at 111th Street and Rangeline Road.

Roundabout at 116th Street and College Avenue.

Roundabout at 116th Street and Guilford Avenue.

126th Street reconstruction from Hazel Dell Parkway to River Road.

Roundabout at AAA Way and 116th Street.



Call IndyStar reporter Chris Sikich at (317) 444-6036. Follow him on Twitter: @ChrisSikich and at facebook/chris.sikich.

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