November 10, 2015

City-County Council Greenlights $75M Bond for Tech Park

City-County Council Greenlights $75M Bond for Tech Park

INDIANAPOLIS -- The Indianapolis city council has endorsed a $75 million bond to help pay for the construction of a new innovation and tech hub on the Near Westside.

The funds will be used for infrastructure upgrades as developers build a ‘makerspace,’ bio-tech lab and entrepreneurship workspace. Planners say ‘16 Tech’ will host up to 2,600 jobs.

Councilor Vop Osili said he supports the project. But he has “grave concerns” about the status of the developer’s funding.

"The two concerns basically have to do with our fiscal responsibilities as council people," Osili said Monday night.

Osili and the rest of the council ultimately voted in unanimous favor of the bond.

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