The proposed budget takes in $113,884 more than it spends, leading Indianapolis Mayor Joe Hogsett’s administration to characterize it as the fourth consecutive balanced budget since he took office in 2016.
The Indianapolis City-County Council is scheduled to meet at 7 p.m. Monday night to consider the proposal.
Gov. Eric Holcomb announced Friday during his press briefing that cities, towns and counties will be eligible for a certain portion of the $300 million based on population.
The Coronavirus Aid, Relief, and Economic Security Act, which President Donald Trump signed into law on March 27, provided $2 trillion in economic aid for business, hospitals and governments struggling with the impact of the pandemic.
The 2020 spending plan—which passed 22-2—is projected to spend about $171,500 less than the city will receive in revenue. Officials say that makes it the city’s third consecutive balanced budget since Hogsett—who is seeking re-election—took office in 2016.
The city plans to spend $3 million on infrastructure, lighting and beautification projects in the area, using funds generated within the TIF district.
Republican mayoral candidate state Sen. Jim Merritt on Thursday criticized Mayor Joe Hogsett’s plan to spend about $580,000 on programs to combat food insecurity in Indianapolis and said it “will likely make the problem worse.”
The Indianapolis City-County Council’s public works committee on Thursday unanimously approved a plan to spend about $8 million in returned local option income tax dollars.
Indianapolis Mayor Joe Hogsett’s new initiatives to combat food insecurity were advanced by a vote at an Indianapolis City-County Council committee Wednesday. The overall plan involves spending $580,000 on four programs.
The mayor’s office says the strategy is a way to meet the city’s growing infrastructure needs—which amount to $160 million per year—without raising taxes. But the proposal would create winners and losers among area counties, even as it addresses what’s considered a regional problem.
The often-bipartisan Indianapolis City-County Council cast a rare politically divided vote Monday night on a proposal that would, among other things, spend nearly $850,000 to buy new vehicles for city employees.
Representatives from the city were in New York City on Thursday to entice investors to buy bonds to fund the new criminal justice center—a milestone in the giant public project.
The proposed tax abatement is related to a $91 million investment the company is making in a building at the Lilly Technology Center on Kentucky Avenue.
Some council members voted for the measure in spite of previously expressed frustration that the measure transfers $300,000 out of the city’s parking meter fund to eventually pay for initiatives that seek to curb homelessness and panhandling.
Council Vice President Zach Adamson said “we all have received lots of calls” on the proposal and said postponing the matter would “allow additional conversation” on whether or not to amend the proposal or accept it as written.
The new ordinance is expected to generate an additional $800,000 in parking meter fees annually—about $200,000 less than council members initially sought in a more extensive proposal.
The Indianapolis Parks Department is proposing the creation of public-private partnership involving a health care provider to help pay for a new family event center at Broad Ripple Park.
S&P Global upgraded the city’s property-tax-secured bonds to AA+ from its previous rating of AA.
Moody’s also assigned an initial Aa2 rating to $30 million in revenue bonds issued this year by the Indianapolis Bond Bank to pay for long-term transportation funding.
The proposal’s sponsor, Democratic Majority leader Monroe Gray, said he intends to bring back the pay-raise plan for a vote early next year.
