July 25, 2018

City-County Council Committee Recommends $26 Million Bond

City-County Council Committee Recommends $26 Million Bond

IndyGo’s Marion County Transit Plan -- to increase service and introduce rapid transit lines -- may take a step forward next month.

The City-County Council Municipal Corporations Committee recommended a $26 million bond to the full council.

If passed when the council meets on Aug. 13, IndyGo Vice President of Public Affairs Bryan Luellen says, the bond allows the transit service to apply for a federal construction grant.

“Right now, in order for us to even continue the design work to get to a point where we’re eligible for the grant we need the bond proceeds,” Luellen says.

The bond, essentially a loan from the city, would fund IndyGo’s Blue and Purple lines design work,  as well as bus replacements and facility upgrades.

IndyGo would pay the city back with the local income tax revenue approved by voters in 2016.

The project’s completion is slated for 2022. IndyGo told the committee it needs the bond to meet that deadline.

Correction - The original version of this post had the wrong date that the full council would consider the bond issue. The next full meeting of the City-County Council is Aug. 13.

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