The beleaguered Indianapolis Capital Improvement Board has whittled its anticipated 2010 deficit of $47 million to only $5 million. But how it slashed $7 million since the end of the Legislative special session and how it proposes to close the final gap are a mystery.
The legislative session that concluded June 30 with passage of a two-year budget left a bad taste in our mouths. For starters,
legislators lacked the courage to tackle local government reform—even though cash-strapped units of government
desperately need the millions of dollars in savings they would generate. In short, they put political cronyism ahead of the
interests of the state.
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.
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.
The Arts Council of Indianapolis faces the unenviable task of divvying up less than $1 million in city grants for the arts, compared with $2.15 million that was awarded last year.
A panel of five veterans of real estate and construction provided industry insights at IBJ‘s Power Breakfast May
1 at the Westin Indianapolis.
I am truly disgusted after reading the latest in the perennial saga of the CIB.
If a city really wants to attract people to its city (to live and visit), it has to become a better city, but to become a better city it has to know what it is and what it wants to be and what it can be.
Barney Levengood, executive director of the financially-struggling Capital Improvement Board, is one of the state’s highest-paid public employees, and some wonder if his pay should be cut.
Indianapolis still looks like a city with momentum, despite the dismal economy. But appearances can be deceiving.
Well-intentioned or not, competent or not, the so-called “leaders” [sports columnist Bill Benner] referenced in your [May 4] column failed miserably in representing the best interests of taxpayers and instead presided over an unconscionable transfer of wealth from “We the people” to a small number of professional sports owners and players.
A vibrant Indianapolis powers a dynamic Indiana and the governor, the mayor and the members of the General Assembly should all recognize that.
A reasonable and workable solution to the financial challenges confronting Marion County its Capital Improvement Board should include the following:
No matter how the Capital Improvement Board funding mess plays out, we’re left with resentment coming from all directions
and an unprecedented splintering of the long-standing bipartisan cooperation that helped propel our city forward.
Without question, the Pacers’ road back to contending status remains decidedly uphill, but they have the talents of Danny Granger and other strong players and have worked hard to gain community support.
The two principal matters that all agree must be resolved are the biennial budget and a plan to return the Unemployment Insurance Trust Fund to solvency.
When we read that all the Democrats in the House voted against all the Republicans in the House on a given issue, we know independence has been cruelly killed by the leadership of each party. The same applies to the Senate.
Casting the CIB’s deficit as an Indianapolis problem is simplistic and inaccurate because it overlooks the millions of dollars in state tax revenue generated by those venues and an endless list of vendors that do business with them.
The Indiana General Assembly session will end with a focus on what has dominated discussion since Organization Day back in November: fiscal issues.
My prevailing thoughts upon returning from Detroit were how fortunate Indianapolis is when it comes to hosting these kinds of events, and how a thriving downtown is essential to (A) success of the region and (B) national perception.
