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Council approves two tax‑increment financing actions to support local development projects
Summary
On Feb. 3 the council approved amendments to create the Kennedy Cloy allocation area and authorized a developer‑backed TIF bond for KTKF Holding LLC; the body also authorized bonds to fund the Arnold Place project (series 2025) with a maximum aggregated principal amount read on the floor. Both items passed after committee endorsement.
The Indianapolis City‑County Council on Feb. 3 approved two economic development actions referred by the Metropolitan Development Commission and committee: the creation of a Kennedy Cloy allocation area (amendment to the downtown redevelopment area) tied to a developer‑backed tax increment revenue bond for KTKF Holding LLC, and authorization of tax increment revenue bonds to fund the Arnold Place project.
Chairwoman Lewis presented proposal 384, which amends allocation boundaries and designates parcels for a newly created Kennedy Cloy…
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