Articles

Indianapolis 2015 budget would use reserves

Indianapolis Mayor Greg Ballard will introduce to the City-County Council on Monday night a $1 billion budget for 2015 that taps reserves to make ends meet. Next year would be the third year in a row that the city taps fund balances to close a budget deficit.

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City quietly scales back World Sports Park

Indianapolis is reining in costs and dialing back ambition at the new east-side World Sports Park. The park, which will be home to one of the few premier cricket fields in the United States, is coming in about $1 million under its $6 million budget because it will have fewer features than planned.

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City Dems propose $16 million more for road repairs

Indianapolis City-County Council Democrats want to spend $16 million more on emergency road work. The Democrats oppose Republican Mayor Greg Ballard’s plan for a $150 million bond issue and instead want to tap general and special funds.

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Council backs city financing plan for $81M tower

The Indianapolis City-County Council voted 18-9 Monday night to provide up to $23 million in city financing for the project, with the stipulation that 30 percent of the workers hired to build the 28-story building live in Marion County.

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City close to maxing out $7.3M snow-removal budget

The city spent about 70 percent of its annual budget on just the first 10 days of the year. With the Department of Public Works’ Indy Snow Force scheduled to work on the latest snowfall through 11 p.m. Tuesday, the city is nearing its cap.

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City loses top bond rating from Standard & Poor’s

Indianapolis had its bond rating cut from AAA to AA this week by financial rating service Standard & Poor's after the city dipped into reserve funds to balance its budget. Two other major ratings services retained the top rating.

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Indy council Democrats pitch budget alternative

City-County Council Democrats are pitching a 2014 budget alternative that would close an $8-million gap left by the majority party's refusal to go along with Mayor Greg Ballard on eliminating the homestead tax credit.

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