Mayor Greg Ballard on Tuesday provided details of his plan to upgrade city infrastructure by using revenue from an expected
$425 million sale of the city’s water and sewer utilities to Citizens Energy Group.
In early April, IBJ reported that Ballard planned to use the funds from the utilities' sale to improve
residential streets and sidewalks, similar to how Gov. Mitch Daniels supported his Major Moves transportation program by leasing
the Indiana Toll Road for $3.8 billion.
The largest project on the city’s planned list of improvements is a $3.8 million resurfacing of 82nd Street between
Allisonville Road and Interstate 69.
Also, 46th Street will get major improvements, including a $1.6 million project to replace curbs and sidewalks and to resurface
the road between College and Keystone avenues, and a $1.5 million resurfacing project between Keystone and Emerson avenues.
In addition, a portion of the city’s planned investment will be used to demolish abandoned homes that pose a public
safety threat to neighborhoods, the mayor said in a prepared statement.
“Moving forward with the planned improvements will not correct all of the infrastructure problems facing our city,”
Ballard said. “However, this investment represents an unprecedented effort and a significant boost for all areas of
the city.”
The City-County Council must approve any final agreement with Citizens Energy. The proposal then will go before the Indiana
Utility Regulatory Commission.
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Mayor unveils infrastructure-improvement plan details
IBJ Staff
May 11, 2010
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You guys have some "interesting" comments to say the least. I hope you will call in and share those opinions starting June 1. I'm looking forward to having you on the air.
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For those who let this information strike a nerve, remember that this is still the America that allows the freedom to achieve dreams and goals. Should you really chastise those who are given a perk on a deal that is supported by the consumer (that is until they don't like the deal anymore due to envy) or should the dream of rewards for working be looked at a little closer? I say lets stick to the deal, go to work,earn our keep, shoot for dreams, change our jobs to have that dream or shut up about others achievements ..............while we are still afforded this liberty of America !
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Three Magi
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Cats out of the bag. The object of the game is to get acquired. That means the company has no idea how to grow beyond a certain point. Email is a 1990s technology. I have laughed at this company since day one. Such a small bit player. If it was anywhere but here, it wouldn't be newsworthy.
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Esther, Indy has passed Chicago in the local government corruption arena. Don't downgrade us. We're No. 1 in the Midwest.
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Where's the money normally budgeted for repairs each year in the City budget? They're sure as hell not spending it on street repairs!
Per some estimates, we need to invest $4 billion in the next 15 years (which would require 400% rate increases). Ballard won on anti-debt, anti-tax campaign. It makes sense since most people want free stuff, and have unrealistic expectations. I hope our mayor will give up populism, and start investing in the infrastructure (which will require rate/tax hike).
The City really has no business of owning and attempting to operate the water company. They simply don't have the resources or personnel to do it. Regardless, rates are going to go up. All the details of the financing need to be laid out. Right now we just have to take their word for it. With a number of other "deals" that have turned out bad for taxpayers, it's no wonder some are skeptical.
Copying Daniels Major Moves model is not a good idea. Gov. Daniels and INDOT have all the money, and it's a shell game where the promised money will show up. INDOT promised a lot of projects, only to cancel or "defer" them.
Let's get some real transparncy before we move forward. Plus let's get some reality into the money it takes to run the city. At some point we have to pay for all the services we expect.
The MOU states that they want to sell bonds on future payments in lu of taxes to get the $425 million upfront.
Additionally the residential water and sewer rates are scheduled to increase 900% to meet the EPA's billions in unfunded sewer overflow settlement including more increases to pay for the water company purchase.
Citizens Energy would be giving an advance of the water revenues. That is NOT a loan. And that also does not equate to a 900% increase. Sheesh, get your facts straight please.
It doesn't take much thought to see taxpayers are being given a loan, to give away a asset ,so water ratepayers can get scheduled bill increases, and have the money redirected away from required improvements in the sewer and water infrastructure, so someone can get re-elected, and campaign donors can profit.
Giving away taxpayer assets and building debt might win elections but it doesn't keep water water bill from raising 900% or fix the water problem.