A revised infrastructure improvement plan for Indianapolis will be presented this month to city-county council members. The mayor's office says the initiative proposes $300 million in improvements, down from $350 million. The original RebuildIndy plan was voted down in the council's Public Works Committee. June 6, 2014
INDIANAPOLIS – City-County Council Republican Leader Michael McQuillen (District 12) and Mayor Greg Ballard today announced their plan to introduce a revised RebuildIndy 2 plan to improve streets, sidewalks and more in neighborhoods across Marion County.
Following months of input through community meetings that concluded last night, the revised version includes:
* Smaller initial bond estimated at $105 million, down from $150 million
* Shorter bond period of 20-years, down from 30-years
* $300 million in total improvements, down from $350 million
* DPW will work with local Councillors and neighborhood groups in selecting projects in their area
“We have asked the Council majority to provide input on our plan for months without a response,” said Mayor Ballard. “This plan includes suggestions made by the general public and is a fiscally responsible way to invest $300 million in street, sidewalk, bridge and park improvements without a tax increase.”
The City expects to spend a total of $95 million on construction projects over the next three years. RebuildIndy 2 adds proceeds from the estimated $105 million bond and approximately $100 million in state and federal matching funds that would not be available without the bond revenue.
“RebuildIndy 2 is a smart investment by the City,” said Councillor Michael McQuillen, City-County Council Republican Leader. “The $100 million in state and federal matching funds is more than we would pay in interest, and a dollar today will get more work done in our neighborhoods than a dollar 20 years from now.”
Mayor Ballard joined Republican and Democratic Councillors last August to announce RebuildIndy 2. The original proposal was co-sponsored by Council President Maggie Lewis and Councillor McQuillen but voted down by Democrats on the Public Works Committee. The revised proposal will be introduced at the next Council meeting on June 23 and is being co-sponsored by 13 of the 14 Indy Republican Councillors, exception is Councillor Christine Scales.
Visit www.indy.gov/RebuildIndy for more information on Mayor Ballard’s RebuildIndy 2 plan. Source: Office of the Indianapolis Mayor