The Indianapolis Metropolitan Development Commission approved a 10-year tax abatement Wednesday afternoon for a controversial
public-private plan to redevelop a vacant downtown office building.
A city board this week will consider tax abatements worth about $47,000 over six years for Indianapolis-based IT consultant
Apparatus Inc., which is moving its headquarters to the former WFYI building at 1401 N. Meridian St.
Fishers development officials hope to create a huge cluster of medical and research facilities near Interstate 69’s Exit
10, near St. Vincent Medical Center Northeast, but local real estate experts disagree about the amount of potential demand
for such a development.
A proposal that would prevent smokers from lighting up in all indoor public places in Marion County is expected to meet fierce
resistance from bar owners who oppose a stricter smoking ban.
Officials grappling with a water utility deep in debt and a sewer infrastructure needing upwards of $2 billion in
upgrades were swamped with proposals about how to fix the mess.
A little more than six months before the 2010 NCAA men’s Final Four is set to tip off at Lucas Oil Stadium, the NCAA
has not yet finalized a rental deal for the facility. While officials for the NCAA and Local Organizing Committee,
the group charged with operating the event in Indianapolis, downplay any problems, sports business experts say it is unusual
not to have an agreement pinned down in the months leading up to the event.
In the worst recession since the Great Depression, it must be difficult to broker business expansions. But
IEDI’s making no excuses for the city’s job creation and retention figures. In fact, it’s touting them.
The new city would count more than 80,000 residents. In terms of population, it would zoom past Fishers and Carmel to rank
sixth or seventh in the state.
The Metropolitan Development Commission this afternoon approved two requests for property tax abatement, including one for
a mammoth development known as World Connect at AmeriPlex.
The Westfield City Council passed a smoking ban 7-0 last night that will prohibit smoking in most public places, including
outdoor arenas, stadiums and amphitheaters.
The financial condition of the city’s Capital Improvement Board, though improving, is still dire enough that employees
of the Indiana Convention Center could be subjected to more unpaid furloughs or layoffs.
The idea of the not-for-profit Indianapolis Convention & Visitors Association taking out a loan was not warmly received by
city officials. And financial institutions were less than thrilled with the idea given the ICVA’s diminishing revenue
and increasing costs.
Fitch and other rating agencies are concerned that the phase-in of property tax caps will further strain the city’s finances.
Three music events with direct visitor spending estimated at $28 million that were hosted at Lucas Oil Stadium offer proof,
city officials said, that the expense of the retractable roof and other features of the $720 million facility are paying off.
The northwestern Indiana town of Merrillville is requiring its employees to take five unpaid furlough days this year, along
with five more in the first half of 2010.
Officials in Kokomo and Howard County are in a tough spot. The “new” Chrysler created after its bankruptcy
sale to Fiat contends it‘s no longer on the hook for $12.9 million it owes various local taxing bodies this year and
$12.3 million it will owe next year.
The Indianapolis Convention & Visitors Association is so desperate for more marketing funding, the organization charged
with promoting the city as a convention and tourism destination is considering taking out a loan. While that
would be the last resort, ICVA CEO Don Welsh said it is one he will have to consider if the money can’t be raised through
local taxes.
The City-County Council wisely averted disaster for the Capital Improvement Board Aug. 10 by voting to raise the city’s
hotel tax from 9 percent to 10 percent, but the razor-thin vote was another disappointing case of elected officials making
decisions based on partisanship rather than good judgment.
Clark talks to IBJ about how the airport can increase revenue by diversifying its sources of income. The airport can’t rely
on higher passenger counts to boost its bottom line.
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.
