From the Indianapolis Star:
The City-County Council has approved a controversial expansion of a Downtown economic development area.
Supporters said the expansion would pave the way for new development and a fire station. Opponents said it would take much-needed tax dollars away from public entities, such as schools and libraries.
The council passed the expansion, which would add land farther up Massachusetts and Indiana avenues to an existing tax-increment financing district, in a 25-2 vote during a meeting this evening. The expansion includes three areas targeted for development:
>> Two clusters along Massachusetts Avenue. They include the triangular block that houses the Fire Department headquarters and a fire station, and a large property containing the former Coca-Cola bottling plant, which now serves as a school bus parking and maintenance facility.
>> A compact area north of Vermont Street and west of Meridian Street that is the site of the planned Block 400 project. Planned are apartments, a Marsh grocery, retail space and parking garages.
>> A broad swath northwest of Downtown in the new 16 Tech life-sciences corridor along Indiana Avenue and 16th Street, near the old Bush stadium.
The city would use TIF money to build a new fire station to replace the old one, which is slated to become part of a residential and retail development.
The proposal had been stalled for several months, bouncing back and forth between the council and a council committee that reviews proposals related to economic development.
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See the full article here:
http://www.indystar.com/apps/pbcs.dll/article?AID=2012121001040
