Revised RebuildIndy 2 Plan Introduced to City-County Council
The revised RebuildIndy 2 proposal has been officially introduced to the Indianapolis City-County Council.
The proposal makes some changes to Mayor Ballard's original RebuildIndy 2 plan. Republican City-County Councilor Mike McQuillen says the length of the bond term goes from 30 years to 20 years and will address $300 million in infrastructure improvements instead of $350 million.
McQuillen says while $300 million only addresses about a third of the infrastructure needs of the city, this project will allow the city to hit the largest thoroughfares, intersections, streets and bridges that are in the worst shape first. He says the council is asking to borrow $110 million which will allow them to leverage over $100 million more in state and federal matching funds. He says the city would lose the ability to get those funds if this project doesn't happen.
McQuillen says as part of the project, they will make sure all of the stakeholders have input on what's going on. He says councilors, neighborhood associations and citizens will be able to give their opinions on what items need to be addressed first.
The proposal's introduction comes less than a week after council Democrats unveiled their plan which they are calling "Fix Our Neighborhoods Now." McQuillen says a few red flags on that proposal have come up including the use of $45 million from the downtown TIF district, money that can only be used in the area from which it was raised.
The proposal now goes to the Public Works Committee which meets next on July 10. McQuillen says he hopes the committee will allow testimony on the proposal from both council members and the public, something that was not done for Ballard's original proposal.