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"People have been talking about Main and Madison for a decade, but no one stopped to consider that old town is more than Main and Madison," Maslowski said.
Taxpayers will chip in, but no one knows yet how much, and it probably won't require a tax hike. Besides the roads, sewers and other infrastructure upgrades, the vision calls for the city to help a developer build a new building that features condominiums, retail shops and even a restaurant with roof-top dining.
The funding
would come from a new tax increment financing district that would collect tax dollars from any future growth in the downtown area. That money would get diverted away from schools and libraries to spur more development until the infrastructure improvements are paid off.Despite the energy behind the plan, it won't happen soon. The city has to jump through a lot of hoops to create a new taxing district. Still, many in the city are enthusiastic.
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http://www.indystar.com/apps/pbcs.dll/article?AID=2012211080335&nclick_check=1
