JUST IN | The Indianapolis City-County Council voted yes to approve the city to borrow $625 million in bonds to finance the Signia Hotel portion of the Pan Am Plaza redevelopment.
INDIANAPOLIS — The Indianapolis City-County Council voted yes to approve the city to borrow $625 million in bonds to finance the Signia Hotel portion of the Pan Am Plaza redevelopment.
The 40 story, 800 room hotel would be ran by Hilton and will be built across from the Indiana Convention Center. The Hogsett Administration announced they would take over the funding of the hotel in May, after the orginal developer, Kite Realty group, said they were not able to secure private financing based on current market conditions.
According to the Hogsett Administration, there will be no new taxes involved in funding this project, as it will be funded through hotel revenue bonds.Visit Indy estimates that this development could bring in 2.9 billion dollars over the next 10 years. They say that large conventions have already reached out about booking their convention at the Indiana Convention center is this hotel is built.Thank you to our partners on the Indianapolis City-County Council for voting yes on Proposal 147.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indy City-County Council approves 'No turn on red' at three intersectionsNEW | Turning at red lights will no longer be permitted at three Indianapolis intersections. Additional intersections will be assessed by DPW but must be posted on their website 30 days prior to adding a No Turn on Red sign, the amended legislation says.
Read more »
'Cop City' vote: Atlanta City Council to vote on budget for projectThe Atlanta City Council will vote on allocating up to $31 million to 'support the continued construction of and improvements to' the controversial Atlanta Public Safety Training Center.
Read more »
Denver voters to decide multiple city council runoff races TuesdayIn addition to the mayoral runoff between Mike Johnston and Kelly Brough on Tuesday, Denver voters will decide multiple runoff races for Denver City Council.
Read more »
Redmond mayor creates new city council salary commissionRedmond Mayor Angela Birney disbanded a citizens’ salary commission after it proposed an increase to a six-figure salary for the part-time position, and now a new commission will take its place.
Read more »
Chicago City Council Members on the $51M Migrant Aid PlanA plan to provide $51 million in migrant care passed by a comfortable margin at this week’s Chicago City Council meeting. But the lead-up to that vote was met with upheaval and racist remarks from audience members.
Read more »