No-So and Library Funding on Committee Agendas This Week

There are a goodly number of City-County Council committee meetings this week - click here for list and links to individual public notices. Of particular note are meetings for the Economic Development committee and the Municipal Corporations committee. Neither committee has a regularly scheduled meeting this week, making both meetings specially called. The full Council meets next Monday, February 7.

The Economic Development committee will meet this Wednesday night, February 2, beginning at 5:30 pm in room 260 of the City-County Building. Prop 292, 2010, which would allow $98 million in bonds to be floated and loaned to the developer of North of South, is the lone item on the agenda. This development could not find any financial institution that was willing to back it. Why the property taxes of the City of Indianapolis are being put at risk is beyond me. (for more details on how horrendously bad this deal is, see previous posts "MDC To Vote On No-So Deal Today", and "North of South - Details of the Proposed Deal")

On Thursday night, February 3, beginning at 5:30 pm in the Public Assembly Room, the Municipal Corporations committee will meet. The sole item on their agenda is Prop 18, 2011. This is a Council resolution urging the General Assembly to enable the use of County Option Income Tax revenues as a source of Library funding.