Speedway approves application to MPO for $10.2M Georgetown Linear Park project (20% grant request)

At the Dec. 8 meeting the Town of Speedway voted to authorize a grant application to the Indianapolis Metropolitan Planning Organization (packet reference as INPO) for the Georgetown Linear Park project. Grant (town staff) said the project has appeared in the town’s master plans for roughly 15 years and that updated drawings by American Structurepoint are included in the application materials.

Grant described the project cost estimate as roughly $10.2 million to cover design, engineering, construction inspection and contingency. The town will request approximately 20% of the total project cost through the MPO grant program (about $3 million). Grant said the MPO funding would be part of a five‑year planning/grant cycle and that, if awarded, construction would be expected to start around 2030; the town would then follow the MPO’s grant agreement and project scoping, hire an engineering consultant and pursue funding sources (general obligation bonds, TIF, redevelopment commission, partner contributions).

Councilors discussed potential partnerships to offset the town’s local share: council members and staff mentioned approaching Indianapolis Motor Speedway (IMS) and the City of Indianapolis for contributions because of shared benefits (hotel/motel tax, food and beverage, rental car revenues). Council approved the motion to file the grant application 5-0.

The application obligation and next steps: staff said applying costs the town little (American Structurepoint agreed to file without charge). If the MPO approves funding in the spring, staff will return with a grant agreement and proposed funding commitments that would require council approval.