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Track Uses Public Land for Paid Parking
Local residents, fearing burglaries, said they have complained to the track about vehicles parking in the wooded lot at night during times when there is no track activity, but were told that the track can't block off Meyers because it is a public street. 23rd Street is blocked off at Auburn with metal posts and cables and a chain link fence at Georgetown.
TIF Is No Free Lunch
(posted May 25)Wayne Township Assessor Michael McCormack wants taxpayers to understand that there is no free lunch when it comes tax increment financing. McCormack explained the recent passage of HEA 1001 has provided a loophole to help TIF districts with covering revenue shortfalls to pay off their debt obligations without implementing special benefits taxes.
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MSD Wayne Township Looks To Borrow Money
(posted May 25)Metropolitan School District of Wayne Township advertised legal notice May 23 in preparation to borrow money to fund school operations. The late tax distributions due to the 2007 reassessment has forced another local government entity to find other sources of funding to maintain services.
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SPEED Sees Super Bowl as Bonus for Speedway
(posted May 25)SPEED (Speedway People Encouraging Equal Development) members discussed Indy's 2012 Super Bowl and its impact on Speedway during its May 21 meeting. Jo Ellen Dotlich said she views the Super Bowl as a mixed blessing. SPEED's concern is how the Super Bowl award will impact the SRC's time table. Dotlich is concerned the SRC will try to move redevelopment at a faster pace in hopes the town could be prepared for the Super Bowl.
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DPW Says No to Impact Study
(posted May 25)The Indianapolis DPW has denied a request to conduct a neighborhood impact study on the effects of vacating Georgetown Road. Local residents had request a closure study to see where traffic will disperse to in the surrounding neighborhoods once Georgetown Road is closed.
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Nabors and Shaw Share IMS Memories
(posted May 23)Part of the Indianapolis Motor Speedway tradition is Jim Nabors singing Back Home Again In Indiana. Nabors recalled the first time he sang the song at the start of the race in 1972. It was pure chance that Nabors found himself singing to a crowd of hundreds of thousands people.
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IMS 100 Year Celebration Starts Now
(posted May 23)The kickoff for the Indianapolis Motor Speedway's three year centennial celebration started May 22 at the Allison Mansion at Marian College. The kickoff also introduced the centennial logo that was designed in house by Brad Walters. IMS President Joie Chitwood said images from the 1910, 1934 and 1961 races inspired the design.
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Speedway Schools Set to Borrow
(posted May 22)Like other school corporations, Speedway Public Schools is in dire need of money to continue operations. The late distributions from the state are the culprit for the shortfall. The Department of Local Government Finance would not release tax distributions until the reassessment was completed, which just occurred last month.
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Council Passes Ordinance 1114
(posted May 22)The Speedway Town Council approved 4-0 to adopt Ordinance 1114 which authorizes a lease rental agreement that will allow the redevelopment authority to bond for a maximum of $62,755,000. The ordinance finalized the resolutions adopted by the redevelopment authority and redevelopment commission on May 19. The lease agreement also requires Department of Government Local Finance approval, which is schedule for a hearing on June 26.
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SPEED Questions SRC Plans
(posted May 21)A group of SPEED (Speedway Population Encourages Equal Development) members made their first public appearance by raising concerns over a leasing arrangement with the Speedway Redevelopment Authority. Despite the comments and concerns over the lease, which has a maximum amount of $62,755,000, the commission approved the resolution 5-0. The resolution did not contain an exact financing plan because Executive Director Scott Harris thinks they are about six weeks away from having a more concrete plan. The SRC members repetitively told the remonstrators that a special benefits tax would not be used because the tax increment financing revenues would support the bond payments.
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Quail Creek Golf Course Feels Like Home
(posted May 21)Thirty years have passed since Mike Hardwick graduated from Speedway High School. Some might remember Hardwick for playing high school and collegiate golf. The golfing bug still remains strong within Hardwick who is now the head golf pro at Quail Creek Golf Course in Pittsboro.
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