The Indianapolis City-County Council has been busy this week with meetings and hearings, so we’re breaking down everything our city leaders have given the green light.
Downtown taxing district
City-County Council voted to approve a new fee district on Mile Square business and residential property owners, which aims to clean up the city’s streets and reduce homelessness. The plan would raise an estimated $5.5 million annually + the district would start collecting fees from property owners in spring 2025 tax payments.
Professional sports development area
The council voted to allow the city to proceed with establishing a professional sports development area (PSDA) to partially pay for the new 20,000-seat soccer stadium for Indy Eleven. The district would collect various taxes to cover a portion of the cost for the $1.5 billion Eleven Park development.
Broad Ripple Family Center
The council voted to authorize up to $26 million in principal bonds, allowing the city to move forward with its plan to acquire the new Broad Ripple Park Family Center. The city’s goal of taking full control of the property is to avoid shelling out nearly $1 million per year as part of a long-term lease agreement with BR Health, which will go into effect if the city fails to close on the acquisition by Jan. 3.
City’s use of Artificial Intelligence (AI)
City leaders have voted to move forward with a proposal to study AI and how it can be used to make several city services — like public safety and communications — more efficient. The city intends to take the next several months to study AI and explore its pros and cons before rolling out its plans in July.
Bonds for downtown redevelopment
The council voted to authorize $18 million in tax-increment revenue bonds, as part of a city incentive package to support the redevelopment of Old City Hall. Leaders also voted to approve $37 million in bonds to demolish the former Jail I building and renovate portions of the City-County Building.