Indianapolis Mayor Joe Hogsett signed an ordinance which clears the way for the Indianapolis Department of Public Works (DPW) to invest in additional roads, sidewalks and bridge projects over the next four years. The bond ordinance passed the City-County Council with unanimous support on Monday, Sept. 10. The event marked the final step in the process, allowing DPW to move ahead with issuing bonds that will fund infrastructure improvements across Marion County.
“What brings us together is bi-partisan cooperation that looks increasingly revolutionary in this day and age. Speaking for myself and on behalf of a thriving city, I am immensely grateful for that partnership,” said Mayor Joe Hogsett.
Councillors Monroe Gray, La Keisha Jackson, Scott Kreider, Duke Oliver, Janice McHenry, Jefferson Shreve and Colleen Fanning joined the mayor for the ceremonial signing at DPW’s West Street garage. This garage is located along a stretch of road that has been assessed as having some of the worst conditions in the city. The segment of West Street outside of DPW’s garage from Bluff Road to Morris Street will be resurfaced next year.
With the help of the Indianapolis Bond Bank, the funding authorizes the city of Indianapolis to issue $120 million in revenue bonds over the next four years to finance long-term projects. In addition to the West Street repairs, the bond issuance funding will be used for long-overdue bridge repairs, federally funded thoroughfare projects and much-needed sidewalk construction. Work will begin on these projects in 2019.
“These will not be seasonal repairs, that require yearly maintenance,” said Mayor Hogsett. “These investments are long-term fixes to address decades-old neglect, ensuring we are maximizing the impact of tax-dollars.”
The proposed 2019 City-County budget includes a total investment of $126 million for transportation improvements. The 2019 City budget will go before the City-County Council for a final vote on October 15.