The move is a win for Mayor Joe Hogsett, who originally faced skepticism from council Republicans over the decision to borrow for big-ticket items by renewing bonds that are about to expire.
Ratings service Moody’s said Indianapolis’ ability to maintain a AAA rating on $78.6 million of general obligation debt reflects a “healthy financial position despite continued draws on reserves to support ongoing operations and capital maintenance.”
The Nov. 8 referendum—if it’s approved—doesn’t institute a transit tax. It only gives the City-County Council permission to vote on one, if it chooses to.
The budget, Mayor Joe Hogsett’s first in office, sailed relatively smoothly through the public process except for a debate from Republicans about road funding.
Mayor Joe Hogsett’s administration is targeting the former General Motors stamping plant site on the west side, where development plans have stalled, and the upstart Market East District on the opposite end of downtown.
Both Indianapolis Republicans and Democrats want to spend $20 million on infrastructure, but the question is about how to fund it.
Under rules to be proposed next week, operators of foot-powered trolleys on Indianapolis streets would need to be licensed and insured. City councilors also hope to address noise complaints.
The deal, which still needs to be approved by the full council, would give the city $45,000 per year in franchise fees.
The Hogsett administration’s proposal is to take big-ticket items out of the city’s operating budget to help resolve a persistent budget deficit. Republicans worry about taking on the debt.
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.
Advocates and opponents of a Nov. 8 referendum that would let the City-County Council increase taxes to pay for a mass transit plan are gearing up to vie for your vote.
The city aims to spend $12.7 million less than it did last year in an effort to begin reducing the structural deficit.
Negotiations with property owners to buy a few parcels of land in the Martindale-Brightwood neighborhood appears to have stalled. City-County Council members this week will discuss exercising eminent domain.
The decision follows a seven-week investigation into an alleged incident involving Democrat Zach Adamson that the accuser said occurred last fall.
Most of the special disbursement has to be spent on transportation funding, but the city can decide what to do with 25 percent of its $53 million distribution.
Local cab drivers have complained that current rules put them at a disadvantage when trying to compete with ride-sharing services Uber and Lyft.
REI Investments, the Carmel-based developer who had been under contract to redevelop about half of the site into a $30 million concert venue, has mutually agreed with owner RACER Trust to terminate the plan.
A similar measure was vetoed by former Mayor Greg Ballard last year, but this one is likely to stick.
The question will be whether Marion County voters are willing to approve a 0.25 percent income-tax hike to pay for expanded mass transit.
A proposal that would let Marion County residents vote for an income-tax increase to help fund expanded mass transit passed a City County Council committee Tuesday night.
