IBJNews

Incentives, long-term leases urged for airport development

Back to TopCommentsE-mailPrintBookmark and Share

The Indianapolis Airport Authority board on Friday is set to approve a long-term land-use plan that will help steer future development in and around Indianapolis International Airport and its five smaller fields for decades to come.

Last year the authority hired international aviation consultancy Landrum & Brown to develop the plan, with input from local government and business leaders.

Those leaders during meetings last month raised a number of issues, including the need for some types of financial incentives to compete with those offered by other communities, such as tax abatements.

Another theme was that the authority, when it leases land for development, grant long-term leases–in some cases 55 years–so developers can better secure financing and boost investment interest, according to a memo prepared for Friday’s meeting.

“It is the intent of the IAA to lease, not sell, land development sites and to look to the private sector development community to assume financial risk on future development opportunity,” said the memo.

The resolution the board will consider Friday states that “wherever and whenever practicable” the authority will return designated airport real estate, developed for non-aviation purposes, to the tax rolls.

For years jurisdictions such as Decatur Township have complained that the expanding airport land holdings, which are tax-exempt, has hurt its tax base.

The ordinance also states that the authority may consider offering incentives for real estate development, including incentives in cooperation with other government entities.

Preliminary portions of the report released last fall were not particularly revolutionary, echoing existing development trends over the last several years. For example, the site of the old airport terminal, just west of Interstate 465, is recommended for airport-centered usage, given its close proximity to runways.

The potential for development themes that take into consideration high-speed rail or commuter rail connections with the airport are also explored.

On the south side of the airport, the plan notes that the authority has long-term future plans for a third parallel runway, and notes the potential for air cargo-related businesses to cluster there.

What may be more interesting are extensive revenue and cost projections for the next 30 years, which will be included in the final version of the report.

Airport officials today declined to release a copy of the final plan to be considered by the board Friday, saying it was still being amended.

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. Great article and post scripts by Mike L (Great addition to IBJ BTW). Bobby's stubborn as a mule, and doubt if he ever comes back to IU. But the love he would receive would be enormous. Hope he shows some time, but not counting on it.

  2. When the Indiana GOP was going around the State selling the Voucher bill they were promising people that the vouchers would only be for public charter schools. They lied. As usual.

  3. I am Mr. Morris Ray, a Legitimate And a Reputable money Lender. We lend funds out to individuals in need of financial assistance, we give loan to people that have a bad credit or in need of money to pay bills, to invest on business. Have you been looking for loan? you have not to worry, because you are in the right place i offer loan at low interest rate of 2% so if you are in need of a loan i want you to just contact me via this email Address: morris_ray123@outlook.com

  4. Jim, your "misleading" numbers comment is spot on. This is the spin these posers are putting on it. News flash, fans: these guys lie. They are not publicly traded so no one holds them accountable for anything they say. The TV numbers are so miniscule to begin with any "increase" produces double digit "growth" numbers. It's ridiculous to think that anything these guys have done has awakened the marketplace. What have they done? Consolidate the season so they run more races on consecutive weekends? And this creates "momentum." Is that the same momentum you enjoy when you don't race between August and March? Keep in mind that you are running teams who barely make ends meet ragged over the summer to accomplish this brilliant strategy of avoiding the NFL while you run your season finale at midnight on the East Coast. But I should not obfuscate my own point: any "ratings increase" is exactly what Jim points to - the increased availability of NBC Sports in households. Look fans, I love the sport to but these posers are running it off a cliff. Miles wants to declare victory and then run for Mayor. I could go on and on but bottom line for God's sake don't believe a word they say. Note to Anthony - try doing just a little research instead of reporting what these pretenders say and then offering an "opinion" no more informed than the average fan.

  5. If he's finally planning to do the right thing and resign, why not do it before the election? Waiting until after means what - s special election at tax payer expense? Appointment (by whom?) thus robbing the voters of their chance to choose? Does he accrue some additional financial advantage to waiting, like extra pension payments? What's in it for him? That's the question that needs to be asked.

ADVERTISEMENT