Mayoral candidates differ on approach to downtown incentives

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24 thoughts on “Mayoral candidates differ on approach to downtown incentives

    1. Time for Change. Hogsett has had eight years. Higher violent crime rate, no improvement in the homeless situation and population stagnation. Hogsett must go!

  1. As per usual, Shreve talks out of both sides of his mouth. He criticizes Hogsett’s approach but at the same time acknowledges city incentives, including TIF is necessary. It really sounds like he’s against city support for affordable housing but supports high-end condos for the wealthy, most of whom have already fled to tony north side neighborhoods and Hamilton County.

    And Shreve’s criticism of how long some projects ignores the fact that these are private developments that the City itself is not constructing, and the effects of the pandemic including serious supply chain shortages and inflation. He claim to be some sort of real estate guru (self storage isn’t exactly complex development) but his remarks show ignorance.

    There is a total lack of comparison in this article about Hogsett’s use of incentives with his predecessors. Hogsett has changed the Ballard model of giveaways to requiring the developers to guarantee repayment of bonds. This is barely mentioned. And, the single-use TIFs only burden the tax base of one particular development rather than the remainder of downtown subsidizing a single project.

    1. It is entertaining to read your posts Robert. You clearly went to the Hogsett school of misinformation and lies. Shreve made it clear in the article that there are certain types of developments that are difficult to fund and they should receive incentives. While those that are more readily funded by financing markets should use traditional financing not city backed money. Like in so many other situations Hogsett uses city money without clear fiscal strategy. As for project length…you clearly have not managed a project before….there are ways the city could be actively engaging….but Hogsett is clueless on how to do it. Keep commenting Robert…you are giving clear insight on how you and the Hogsett team use misinformation in an attempt to to influence the election outcome. I wish Hogsett was as good at being a mayor as he is at misrepresenting the facts of how is doing.

    2. That’s hilarious Patricia. You’re clearly a Shreve supporter not a real estate expert. I’ve worked in real estate for thirty years. No developer wants the city to run its show, but just give them the money. Oh, and affordable housing is some of the most difficult developments to fund.

  2. Would hate to see the momentum that´s well underway be interrupted if Hogsett & Co. were to be replaced. It is remarkable
    what is being accomplished just since the Pandemic.

    1. Not sure what is to interrupt. A significant portion of the office space on monument circle is vacant. The construction on the corner of Market and Illinois has blocked access for years. A study from the University of Toronto released in May shows Indianapolis on the bottom of the list of post covid downtown recovery. Joe does not have the answers! It is time for a change!

  3. By gum, yes, elect Shreve…and he’ll force those businesses whose offices sit empty because the staff now works from home to get those lazy bums back in their offices. And speaking of lazy bums, I’m sure Shreve has a great plan for the homeless…maybe he could bus them to other cities, similarly to how his friends Abbot and DeSantis handle the immigrants. Perhaps his old friend ex-Congressman Mike Sodrel could load some of them in his trucks running the mail to and from Chicago…perfect set up, since State Police are restriced in their ability to interfere with any truck hauling US Mail. Or maybe he can rent a bunch of storage units from the folks who bought his business, and put them in storage.
    Oh, and crime. I confess I don’t understand how he intends to reduce crime. How many more police would you need to patrol every block of every neighborhood every day of every week of every month for every year. Because absent that sort of presence, crime won’t go down just because you hire 200 or 300 more officers. Crime has root causes, and you can’t just hope hiring more police will cure root causes. Or cure folks who just have lost the ability to reason and not resort to a gun, the one you carry proudly because the Indiana legislature (Shreve’s other good buddies) say you should…and there’s nothing police can do about it…
    Shreve has no answers. There may not be short term answers to most of this. But I’m confident Shreve doesn’t have them, nor does he have the ability to develop them or hire the folks who do.

    1. Tim S
      About and DeSantis are baring a huge disproportionate amount of the burden from
      from all the illegals and economic migrants with NO assistance from
      the President or his administration. The border is in crisis. A crisis
      created by the DEMS.
      The only reason Biden is reacting now is because Dem mayors are losing their
      collectivist minds. Yet they’re burden is nothing compared to what Texas and
      Florida are experiencing.

      Wanna know what to do about crime? Lock up the criminals. Stop the WOKE
      social justice nonsense.
      Obviously Hogsett doesn’t have any answers to the crime problem in our city.
      He’s to busy pandering to the social justice fools.

    2. BTW Robert F….working in over 100 cities across several states…building projects to help those in need of storage provided Jefferson some great experience in how to get things done and manage projects. As for your background and experience, it is great you actually have some basis in real estate to support your opinons. But last time I checked, your name is not on the ballot. Hogsett has failed on several fronts…he is running for a third term and in 2017…he said two terms is all a mayor needs. In 2017…even Hogsett predicted in 2023 it would be time for a change!

    3. Tim S….really? Do you care about facts? Have you read Jefferson’s plans? It is not just about adding more officers. It is about increasing the investment in mental health. It is about supporting the findings from the “Low Barrier Shelter Task Force”. It is about finding ideas that work. Mayor Hogsett released a plan in 2017 to eliminate homelessness in Indianapolis in 2023 when our homelessness count was approximately 1,600 people. In 2023 our homelessness count is approximatly 1,600 people. Hogsett’s plans have failed. It is time for a change. Shreve will pursue initiatives that compassionatly help homeless people.

      It is interesting how you chose to place so many lies in your statement above. Seems like you and Mayor Joe play from the same playbook….throw up a bunch of lies and hope they will distract from people seeing the truth.

      It is time for change…the people of Indianapolis do not deserve lies or plans that do not work.

    1. Thanks for posting this link. It details all the drivers behind the results of this particular study and all the things city government is doing to help the city recover.

    1. The near westside has immense potential. But the crime issue must be addressed first before investment follows. There are several large apartment complexes that line the west side of White River Parkway but very little retail and restaurants that are walkable to get to.
      There’s a reason for that. Crime!

      Elanco is a very welcome investment. Hopefully it help stimulate further
      economic development in that immediate vicinity.

      The city should really push and offer any and all assistance to I.U.
      and Purdue to expand their presence ( increase student population )
      even beyond Whiteriver Parkway
      between New York street all the way up to 10th Street.
      Let’s push to increase student population to 40,000 by offering incentives
      and assistance by any means necessary.

      Last, the I.U.P.U.I. area is BLAND and BORING. It lacks imagination and aesthetics. Let’s make it more appealing
      and festive to make it more attractive to more students. Make it a place
      where students want to be.

      Last, there is a large contingency of students from India that do not feel
      at home here on the campus and that can’t wait to leave. These students
      are already looking at San Diego, Houston, Boston, and other high tech cities.
      * Why can’t the city, I.U.P.U.I., private sector businesses, and students
      corroborate to create a two to three block international food, retail, and
      service area that is festive, appealing, and fun for these students.
      The potential for attracting and retaining students from India would increase. *

      Let’s be creative and corroborating. There’s immense potential.

    2. Sam B.
      +1

      I’m in that area everyday. Vision, corroboration, and backing are badly
      needed for that area.

  4. Let’s all just be honest with one another: During the Ballard administration TIF was used to incentivize downtown residential development. It worked but due to moral obligation backing from the city and the immediate availability of TIF funds the bond rating for Indianapolis went down. In order for the city to have its bond rating recover the Hogsett administration made developers back the TIF bonds for their projects instead of the city using single site TIFs. This made sense but slowed down the use of TIF on projects. The reality is the use of TIF downtown did stimulate residential development, but also had the effect of reducing the rents required to support a project. that reduction is real and, coupled with increases in land values and construction costs, have made it virtually impossible to do major residential development downtown without some type of public/private partnership. TIF seems to be the most effective way to accomplish this. Another reality check: every suburban town surrounding Indy has used TIF to do exactly the same thing with the same results.

    Jefferson Shreve seems to believe he can just stop supporting the use of TIF incentives for downtown projects. That is simply pollyannic. If he, as a developer, believes this to be the case, he is either lying or inept. Neither of these are qualities we should want in a mayor.

    1. Excellent observation SE. Building vanilla garages with a fence around them to store stuff isn’t exactly sophisticated real estate development. I’d say a little of both – half-truths and ineptitude.

    2. He did not say stop….he indicated more cautious use and not just handing them out like candy. Hogsett simply does not understand the long term impact of just giving away them away to all projects. It seems some of the readers are seletively reading and left to their interpretations…then misrepresent the facts. Interesting “Se G.” that you selectively used words from Jefferson to make your point! Jefferson’s success in policitics and in business indicate he is not inept! Hogsett’s failures in leadership over the last eight years (e.g. disasterous riot response, murders over 200 in the city for the last three years and on track for a fourth, terrible leadership on the animal shelter) are factual examples of Hogsett’s failures. He had eight years…he has failed…it is time for a change.

  5. Again Robert…stop with the lies. Shreve’s public safety plan very clearly outlines reasonable gun safety measures. He has taken flack from the NRA for his positions…but has not wavered. Shreve understands and supports the right to gun ownership as outlined in the second amendment…but beleives there are reasonable standards (e.g. permits, age requirements) that can help reduced violence!

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