The Midtown Economic Commission will meet June 18, 4pm at the Hatch (6161 N. Hillside Ave). This public meeting will evaluate one Broad Ripple project for Tax Increment Financing within the structure of Midtown TIF District: 6200 College Avenue. Public comment will be heard. Meeting and project details can be found here.
- Location: 6201, 6207,6211, 6215 North College Avenue.
- Total Development Budget: $24 million
- TIF Request: $4.8 million (developer backed)
- Residential Space: 36 units of workforce housing totaling 21,171 sq ft.
- Office/Commercial Space: 59,300 sq. ft. Class A
- Lobby Space: 1,901 sq ft.
- Onsite Parking Count: 51 spaces/ Offsite Parking Count: 80 spaces
- Estimated Bondable Increment Generated: $5,760,000
- Requested TIF Support: $4,800,000 (80%) of total bondable increment.
Project Employment Profile (Anchor Tenant)
- 205 existing jobs
- 33 minority/97 women/103 Marion County residents
- $16,557,000 existing wages (approx. $38/hour)
- 330 new jobs (over 5 years)
- 209 minority/women
- 166 Marion County resident
- $26,000,000 projected new wages
Use of Midtown TIF Funds:
- Public street, sidewalk, and landscape improvements
- 1% For Public Art
- 1% Developer match to support the Broad Ripple Avenue Streetscape redevelopment
- Structured parking
- Demolition, site excavation, and preparation
- Utility relocation, and storm water management
To learn more about the Midtown Economic Commission, click here.