Committee approves 2026 downtown Economic Enhancement District budget and rate adjustment

The Metropolitan and Economic Development Committee approved the Downtown Economic Enhancement District—s proposed 2026 budget Nov. 17 after a presentation outlining revenue timing and program priorities.

Ms. Schafer, the district presenter, said the EED—s initial 2025 billing resulted in a first distribution of about $2.2 million and that 2026 projections anticipate roughly $5.5 million in revenue after the board lowered the assessment rate from 0.1681 to 0.1638 to remain under the district—s cap following increases in downtown assessed value. She said downtown assessed value rose from approximately $2.68 billion in 2025 toward $3.3—$3.4 billion because of state valuation adjustments, which disproportionately affected Center Township and downtown buildings.

Budget priorities for 2026 highlighted by the presenter include maintaining street-level clean-team operations, continuing a partnership with HBAF (including a $1,000 stipend per qualified individual), increased funding for Indianapolis Police Department homeless-unit staff, more outreach specialists in partnership with Horizon House, higher funding for safety ambassadors and a tactical reserve to support future low-barrier shelter operations. The presenter said the budget and program decisions were informed by feedback from property owners, the EED board and public meetings.

Greg Henneke, identified as an EED board member and downtown property owner, offered public comment in support, praising Downtown Indy's leadership and noting the recent groundbreaking for a low-barrier shelter.

The committee moved, seconded and approved the EED budget by voice vote. The district will maintain reporting and a public dashboard to track metrics and expenditures.