A proposal to promote downtown development will be introduced at tonight's City Council meeting. The proposal will be discussed at City Council's September 19 meeting.
The City is seeking to establish a Municipal Riverfront Development Project, which would be bounded by an area similar to that of the downtown Community Revitalization Enhancement District. This would allow restaurants to obtain a liquor license from the Indiana Alcohol and Tobacco Commission. The license would be less expensive than obtaining a license on the open market and serve as a valuable incentive for a business or individual looking to open a restaurant downtown.
A Municipal Riverfront Development Project area must have received federal, state or local funds for revitalization, have a history of blight by having been designated a redevelopment district and be near a river.
The passage of a development area could spur downtown development as outlined in the City's Downtown Blueprint process to revitalize downtown.
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