Council Committee Votes Down Loan for Street Improvements
The Indianapolis City-County Council's Public Works Committee voted down a proposal which would have approved a loan meant for improving the city's streets and neighborhoods.
The proposal would have allowed the city to take a $150 million loan for those improvements. That loan would be paid back over the next 30 years. Councilor Vernon Brown, Chairman of the Public Works Committee, says the city already gets $7 million per year from the state for that purpose.
"With that additional $7 million, in 30 years they could do $210 million worth of improvements instead of doing $150 million worth of improvements," Brown says.
“Tonight Democrats on the City-County Council turned their backs on every neighborhood in Indianapolis," Mayor Greg Ballard said in a statement Thursday night. "By placing politics ahead of the best interests of the community, they rejected a plan that would have provided sidewalks in many of our neighborhoods, repaved every one of our worst streets, made our bridges safer and fixed flooding problems in some of our poorest neighborhoods without an income or property tax increase.”
Brown says voting down the proposal saved the city millions of dollars in additional debt. He adds the city already has $202 million with which to make street and neighborhood improvements.