Indianapolis Business Journal

Indianapolis-based Lilly Endowment Inc. is the third-largest private charitable foundation in the country and has given hundreds of millions of dollars to arts organization in the city. But once you cross 96th Street? Nothing. The longstanding policy is to keep funds in the city in which Eli Lilly and Co. was founded. Lindsey Erdody reports that Carmel’s arts leaders and Mayor Jim Brainard say it might be time for the foundation’s board to reconsider. Also in this week’s issue, Hayleigh Colombo reports that the Hogsett administration is racing against a deadline to tear down blighted and abandoned homes with $3 million it has remaining from a federal grant. And Scott Olson explores the latest obstacle to the creation of a $3 million fund to spruce up downtown.