IBJNews

City-County Council, mayor settle on TIF policy

Back to TopCommentsE-mailPrintBookmark and Share

Developers receiving tax-increment finance money from the city of Indianapolis will be asked to set local hiring goals under a new TIF policy agreed upon by City-County Council leaders and Mayor Greg Ballard's administration.

The TIF policy is spelled out in an agreement adopted Monday night by the council's Metropolitan and Economic Development Committee. The Metropolitan Development Commission accepted it earlier this month.

“What this does is it puts discipline around how you analyze a TIF and clear expectations for those who want to propose a TIF,” Council Vice President John Barth said.

The policy could quell the controversy that tends to surround TIF districts, which capture property-tax revenue from new developments for the benefit of a district rather than the entire city. Some councilors have questioned the continued creation of TIF districts, given the impact on other taxing entities, including schools, and the city's ongoing struggle to pay for basic services.

Barth and Vop Osili, the other Democratic councilor who worked on the agreement with Ballard's team, each have backed the creation or expansion of TIF districts. Osili was a key vote on the controversial expansion of the downtown TIF district to include Massachusetts Avenue.

Part of that deal, which paved the way for redevelopment of the city's fire station property, requires developers and builders to hire people who live in the district or adjoining neighborhoods.

Ballard's team readily agreed to make local hiring part of the policy, which includes clawback provisions, Osili said. “When we're spending Marion County taxpayers' dollars, it's important we consider who the beneficiaries are,” he said.

Deputy Mayor for Economic Development Deron Kintner couldn't be reached for comment.

Kintner resisted being locked into new rules regarding TIF districts when former council Vice President Brian Mahern spearheaded a TIF study commission in 2012. At the time, Mahern tried to use support for the Mass Ave project as a bargaining chip that would force Ballard's administration to accept new policies. 

The agreement that Kintner, Metropolitan Development Director Adam Thies and Controller Jason Dudich hammered out with the councilors mirrors the commission's findings but leaves some wiggle room for the administration, saying, for example, that TIF districts should not capture revenue from buildings already under construction “absent substantial justification.”

The next new TIF district will likely be along Madison Avenue on the south side. Under the policy, the administration is to give at least 30 days notice to the chairman of the Metropolitan and Economic Development Committee, the Metropolitan Development Commission and affected taxing entities, which includes school districts.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. If I were a developer I would be looking at the Fountain Square and Fletcher Place neighborhoods instead of Broad Ripple. I would avoid the dysfunctional BRVA with all of their headaches. It's like deciding between a Blackberry or an iPhone 5s smartphone. BR is greatly in need of updates. It has become stale and outdated. Whereas Fountain Square, Fletcher Place and Mass Ave have become the "new" Broad Ripples. Every time I see people on the strip in BR on the weekend I want to ask them, "How is it you are not familiar with Fountain Square or Mass Ave? You have choices and you choose BR?" Long vacant storefronts like the old Scholar's Inn Bake House and ZA, both on prominent corners, hurt the village's image. Many business on the strip could use updated facades. Cigarette butt covered sidewalks and graffiti covered walls don't help either. The whole strip just looks like it needs to be power washed. I know there is more to the BRV than the 700-1100 blocks of Broad Ripple Ave, but that is what people see when they think of BR. It will always be a nice place live, but is quickly becoming a not-so-nice place to visit.

  2. I sure hope so and would gladly join a law suit against them. They flat out rob people and their little punk scam artist telephone losers actually enjoy it. I would love to run into one of them some day!!

  3. Biggest scam ever!! Took 307 out of my bank ac count. Never received a single call! They prey on new small business and flat out rob them! Do not sign up with these thieves. I filed a complaint with the ftc. I suggest doing the same ic they robbed you too.

  4. Woohoo! We're #200!!! Absolutely disgusting. Bring on the congestion. Indianapolis NEEDS it.

  5. So Westfield invested about $30M in developing Grand Park and attendance to date is good enough that local hotel can't meet the demand. Carmel invested $180M in the Palladium - which generates zero hotel demand for its casino acts. Which Mayor made the better decision?

ADVERTISEMENT