INDIANAPOLIS — Monday night was the first Indianapolis City-County Council meeting since Election Day and dozens of new proposals were introduced.
One of the proposals seeks to create an Economic Enhancement District for downtown to address safety, cleanliness and homelessness.
The city has used extra funding through the American Rescue Plan Act to create a pilot program operated by Downtown Indy, Inc. to provide extra services downtown. However, those federal funds are running out.
The EED would be funded by a fee on taxable property within the district based on the assessed value of the property. For downtown Indianapolis, this fee would include property within the Mile Square and the rate would be set by the City-County Council.
The properties will be assessed in 2024 and the fee would go into effect in 2025.
On Monday, the council heard the proposal but there was no discussion. However, the Council Republican Caucus said in a statement that pushing for the district after the election is “dishonest and distasteful.”
Another proposal looks to create a special district to help fund the Eleven Park project along the White River.
The total cost of the project is $1 billion.
This would allow the city to take various taxes produced by the properties in the area and put them toward the project. Those taxes include the innkeeper’s tax and the food and beverage tax. Normally, those taxes go to the state or the Capital Improvement Board.
Eleven Park will take over the former Diamond Chain Co. Property just southwest of downtown. The developer looks to add a 20,000-seat soccer stadium, apartments, retail, green space and a hotel.
The goal is to have the stadium done in time for the 2025 season.
Both proposals will head to the metropolitan and economic development committee next Monday. That is when the council will see presentations and be able to ask questions.
The public will also have an opportunity to comment.
If both pass, the proposals will head back to the council for final approval in December.