City Proposes Madison Avenue Redevelopment
Designation would make southside corridor eligible for more grant funds
Indianapolis is kicking off a redevelopment plan for the Madison Avenue corridor.
The city is proposing a five-thousand-acre redevelopment district straddling Madison Avenue, from Garfield Park to the Johnson County line. The designation allows the city wider eligibility for grant money, and potential tax-increment financing.
City planners say they've identified vacant lots and buildings within the district that can be dangled before developers.
The Gateway South Community Alliance, a group of southside business and community leaders, has been pushing for a focused redevelopment effort. Alliance member Kevin Wheeler with Cardinal Insurance says the city proposal mirrors what the group had in mind.
The City-County Council needs to approve the designation -- that's expected before Thanksgiving.