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Last updated on Tuesday, May 20, 2014
(INDIANAPOLIS) - The Metropolitan and Economic Development Committee of the Indianapolis City-County Council has approved over seven-million dollars in bonds which will go toward a new mixed-use development in Broad Ripple.
The project would tear down an abandoned gas station and would include 33-thousand square feet of retail space, 119 apartments, a parking structure, a public canal walkway and a pedestrian plaza.
The retail space could house a Whole Foods grocery store, but developers told the committee the chain hasn't fully committed to the project until it is fully approved.
Republican Councilor Jeff Miller says he believes the project, which would cost 27-million dollars to complete, is a great idea. He says the abandoned gas station is a blight on the area and the proposed project is a game-changer.
Democratic Councilor At-Large Zach Adamson says he would support the proposal to improve the area, but believes using money from a Tax Increment Financing (TIF) district isn't the way to do it. He says TIF money should go to areas of the city which are struggling economically and Broad Ripple is not one of those areas.
Other opponents of the proposal have stated in previous meetings that the project would ruin the unique character of Broad Ripple and create unsustainable traffic in the area.
Supporters say the project will create an economic boost in the area, including creating 100 jobs.
The proposal was approved by a five-to-one vote and now goes to the full council for consideration.
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