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.
The move was a big victory for neighborhood leaders who had been fighting to keep in place the city’s ban on digital billboards.
In the two years since the initiative started, the city of Indianapolis has spent $24.3 million—largely in federal funds—to demolish, build or rehab more than 2,500 homes.
The fund is designed to tackle “the significant lack of service provider capacity” that grew after Indianapolis Mayor Joe Hogsett in 2017 launched an effort to provide 400 more housing units for the homeless.
Jose Evans has decided to not to run for mayor and has thrown his support behind State Sen. Jim Merritt. And City-County Council member Jefferson Shreve, who replaced Jeff Miller last year, won’t seek a return to the council after his current term ends.
Indianapolis Mayor Joe Hogsett has a huge fundraising advantage over his Republican challengers, who are starting their campaigns with bank accounts in the four-figure range.
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.
Jim Merritt, who will formally announce his campaign Thursday afternoon, told IBJ he was running for mayor because he “loves my city,” and is concerned about the city’s high number of murders and “rampant homelessness.”
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 Capital Improvement Board of Managers will ask lawmakers for more long-term funding that could be used in part for improvements at Bankers Life Fieldhouse. The governor says he’s ready to listen.