The Fishers City Council voiced solid support Monday night for the new proposed Yard project, a culinary and entertainment development planned near the IKEA store, currently under construction near 116th Street and I-69.  The project agreement with Thompson Thrift calls for the developer to invest $40 million.

The city will lease space at $1 per year to select new culinary startups.  It is expected that 8-13 restaurants will also be part of the complex.

Thompson Thrift purchased all the homes that will make up this development.  No eminent  domain threats were used to buy the homes, according to city officials.  All homeowners were paid a premium by the developer.

Tax Increment Financing (TIF) will be utilized as part of the incentive package.  This land area is not part of the city and will need to be annexed before the project can move forward.

The council also unanimously voted to change the zoning in the area from residential to commercial.