State Representative Lloyd Arnold of District 74 has authored a new bill that would allow small cities and towns to designate a redevelopment district within their downtown’s main streets.
This piece of legislation would give cities and towns with no more than 20,0000 residents the chance to establish a mile-long district that redirects all sales taxes generated within that area to a special town fund. This fund could then be used to establish financial stability and develop the community further to fit the needs and desires of the residents, such as attracting additional businesses and visitors.
Currently, towns and cities must apply through the state and get approved before a section of their municipality can be considered a redevelopment district. The state usually only grants redevelopment status to districts that have some sort of historical significance.
Arnold says this bill would empower the community to develop and expand their main thoroughfares along with helping the small businesses that depend on local customers to grow and succeed, it would also strengthen the economic environment for job creators and tourist attractions.
Lloyd Arnold represents House District 74, which includes portions of Spencer, Dubois, Perry, Crawford and Orange counties. You may contact him with any questions or input at 317-232-9793 or by email at h74@iga.in.gov.
