A controversial measure that would expand the city of Indianapolis’ downtown Tax Increment Finance District is going back to committee.
A vote for the measure was scheduled for Monday night, but City-County Council President Maggie Lewis announced at the start of the meeting that it was being sent back to the Metropolitan and Economic Development Committee.
A number of citizens showed up to speak in favor and against the measure which would have expanded the TIF to include portions of Mass Ave and 16 Tech.
Supporters say the TIF expansion was good for economic development and jobs while opponents bemoaned that there was no oversight and TIFs take money from schools and local governments because they take the increase in property taxes paid on rising property values and use them to pay for developments.
The measure has been stalled for months, and was brought back at the August 27 committee hearing. It was not without controversy as then Committee Chairman Steve Talley had tried to adjourn the meeting before the proposal could be brought back to the floor.
In addition, local attorney Paul Ogden had filed a suit against the Council saying that it had been postponed for more than six months and state law requires such measures to be reintroduced.
Lewis says the committee will hear the proposal next Tuesday at 5:30 and a full vote will take place on October 1.
The measure is expected to pass the full Council with bi-partisan support.