KIB getting new headquarters

July 16, 2007
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Keep Indianapolis Beautiful is planning to renovate a vacant industrial building in Fountain Square to serve as its new headquarters. New KIB headquarters The not-for-profit will seek LEED certification for the 25,000-square-foot building at the corner of Fletcher and Shelby streets, across from a walk-up Dairy Queen. The group paid about $500,000 for the red-brick building, the former home of janitorial supply company Roger Popp Inc. The building will get a green roof, cysterns to catch water and a center atrium as part of the $1.7 million renovation. KIB plans to break ground in late August.
UPDATE: Check out a rendering of the project here.
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  • awesome! looking forward to seeing this in person someday...that will be a needed boost to that corner of fountain square. i love how several green buildings have been announced recently. finally, this city is catching on. hopefully this will be a leed/green roof showplace since it's kib's headquarters. this should spur others to consider this type of development.
  • Great that they have a new place--now if they can keep the trees they plant alive--they need a plan to water them after they've been planted so they don't die before they establish.
  • Perhaps their HQ can become Indianapolis' version of Chicago's Center for Green Technology: green roof, permeable paving, rainwater capture, solar energy technologies and above all, a resource center for those who wish to employ green alternatives in everyday development, construction, and renovation.

    ...all with some well-tended urban trees. That corner needs it!
  • This is such great news.. I can't wait for the the corner of Fletcher and Shelby to be beautified!

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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

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