Articles

EDITORIAL: City’s fiscal creativity deserves support

In trying times, people and businesses often have to get creative to make ends meet. The same should hold true for local government. That’s why we commend city leaders for thinking outside the box in considering two initiatives to cut costs and generate public revenue.

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City considering new parking meter plan

City officials are considering several proposals designed to wrestle more revenue out of
the city’s roughly 4,000 parking meters, including
the possibility of a long-term lease to a private firm, a move that netted Chicago more than $1 billion
last year.

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$65M development deal would cost Capital Improvement Board

The Capital Improvement Board could be forced to give up one of its most profitable assets so the city can pull off a $65-million
public-private downtown development deal. The city has agreed to help a developer revitalize the vacant former Bank One operations
center in part by acquiring an adjacent
parking garage for $18.5 million.

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EnerDel poised to get jolt of stimulus juice

Within weeks, EnerDel expects to receive notification that it’s getting as much as $480 million in financing under a U.S.
Department of Energy program aimed at fostering advanced vehicle manufacturing.

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EDITORIAL: Project near MSA may be worth the risk

The city has unveiled a dramatic plan for new housing and retail development to revitalize the old Market Square Arena site.
Despite some shortcomings, the project deserves a chance to give the stagnant area a boost.

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$65M downtown development deal raises questions

A $65 million public-private plan for the redevelopment of a vacant downtown office building is raising eyebrows for its unusual
approach and potential risk to taxpayers. The plan calls for a private developer to acquire the former Bank One operations
center, surface parking lots and an adjacent
parking garage from a private owner for $18.5 million, then sell the 1,680-space garage to the city for $18.5 million.

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Velodrome plans in limbo

While the Marian College cycling team has been off this month hunting national championships in Colorado, a plan by school officials to manage the Major Taylor Velodrome has not yet won support from Indy Parks.

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City’s environmental effort gets boost

The McKinney Family Foundation has created a fund to support initiatives of Mayor Greg Ballard’s 3-month-old Office of Sustainability, an environmental initiative that promotes projects ranging from energy-efficient city buildings to bicycle paths.

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Struggling City Market loses subsidy

Indianapolis Mayor Greg Ballard has notified the City Market that the financially strapped city is phasing out its subsidies
to the historic downtown fixture, which account for one-quarter of the market’s nearly $1 million budget.

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Arts advocates seek money from Indy government

The Arts Council of Indianapolis is leading talks with city councilors, Deputy Mayor Nick Weber and the chiefs of top cultural
organizations about how to create a bigger pot of revenue for the arts.

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