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This summer, the city announced plans to build a mixed-use development on the site of the old Market Square Arena.
The $81 million-dollar project will include apartment, retail, and parking.
This week, the Economic and Metropolitan Development Commissions voted in favor of the city contributing $17.8 million toward the project.
"By getting this approvals in place, it does help go out and attract the anchor retailers that the developers are pursuing," said Deputy Mayor Deron Kintner. "They see certainty that the project is going to happen. So, it is helpful to take these critical steps now."
The complex will include 300 apartments and 43,000 square feet of retail.
The City County Council still must sign off on bonding for the project.
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