Kite Realty seeks TIF funds for 3 mixed-use projects
Indianapolis-based developer Kite Realty Group Trust is asking the cities of Carmel and Indianapolis to ante up incentives for a trio of mixed-use projects in its pipeline.
Tax-increment financing
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Creation of TIF district in Old Southside approved by council panel
City officials said the area is primed for redevelopment, especially after being designated a Lift Indy neighborhood, which means the city will direct about $4 million in investments to the area over three years.
City-County Council OKs $30M incentive deal with Dow Agro successor
The City-County Council on Monday approved a plan to provide Corteva Agriscience with $30 million in incentives to maintain operations in Indianapolis, but not without reluctance from some council members.
Posh Intercontinental Hotel part of $141M redevelopment plan for two downtown buildings
Keystone Realty Group is in line to receive financing help from the city for an ambitious plan that would overhaul two nearly vacant office properties near Monument Circle and bring a prestigious Intercontinental Hotel to Indianapolis.
Council panel advances $2.9M in financing for new Duke Realty headquarters
An Indianapolis City-County Council panel on Monday night unanimously advanced proposals that would help Duke Realty Corp. move its headquarters from Carmel to a new $28 million office building it would build in Indianapolis.
Huge surpluses have dried up for downtown tax increment financing district
Tens of millions in spending, along with unforeseen events, have drained the TIF’s unrestricted cash balance—money left to fund extra projects after covering debt and reserves.
Council panel OKs $9.5M in loans to help Central State, Monon 16 neighborhoods
The projects are coming up now because the city has six months left to take advantage of more than $30 million in a federal loan guarantee program that it was awarded in 2012 by the U.S. Housing and Urban Development Department.
Broad Ripple project to get $2.7M boost from city bonds
The developer-backed bonds will support a 87-unit, $18.9 million mixed-use apartment building that’s been in the works for about two years.
City to consider $15.2M in bonds for downtown projects
The bonds would help finance development of a hotel complex on the site of Indianapolis’ oldest African-American church, as well as a five-story apartment and retail project near the base of Massachusetts Avenue.
Development taking off in east-side corridor
Harrison College is asking $11.5 million for its two-building campus along East Washington Street, a steep jump from their assessed values but reflective of the area’s increasing potential for growth.
GM stamping plant site going back on block
The owner of the former General Motors stamping plant property plans to solicit bids for the site as early as next month and is expecting proposals to be much bolder than previous pitches.
City-County Council votes to expand downtown TIF district
Council members voted 24-1 to include in the TIF district the former General Motors stamping plant property and the Market East District.
Council committee approves expanding downtown TIF
The proposal, which supporters say will spur development in needed areas, still needs the support of the full City-County Council to move forward.
Developers ironing out details on $20M housing project in Mapleton-Fall Creek
Mapleton-Fall Creek Development Corp. and Merchants Affordable Housing Corp. are closing in on a complex financing plan for the proposed low-income housing development.
City-County Council approves ‘percent for art’ program
A similar measure was vetoed by former Mayor Greg Ballard last year, but this one is likely to stick.
City to consider selling $75M in bonds for 16 Tech project
The Central Indiana Corporate Partnership wants the city to improve streets, walkways and other infrastructure around the 170-acre project north of the IUPUI campus, designed to attract high-tech businesses and workers.
TIF glitch may imperil projects in Midtown
TWG Development LLC has agreed to pay $3 million to buy part of the AT&T property near the busy intersection of College Avenue and Kessler Boulevard to build a $39 million apartment project with an underground parking garage.
Downtown TIF district awash in cash
The Indianapolis downtown TIF district is so flush with cash that the mayor can cover all its debt payments, fund two layers of reserves, and still have tens of millions to spend at his discretion.
Carmel OKs $20M bond for City Center garage, public space
A divided Carmel City Council on Monday approved a $20 million bond issue to build a parking garage and other infrastructure at Carmel City Center, clearing the way for the final phase of construction at the ambitious mixed-use project.
Noblesville delays decision on funding scaled-back downtown park
The Noblesville Common Council postponed its vote on funding a downtown park planned for west of the White River, asking the city administration for more information about long-term costs—and future projects that also might require a municipal investment.