Permitted uses of EED funds:

• Security (including public safety technology)
• Safety ambassadors
• Cleaning, litter and graffiti removal; power washing
• Outreach of homeless
• Operations for a low barrier shelter for homeless
• Landscaping and beautification
• Public events
• Business attraction and development
• Planning for improvement activities

 Timeline:

• Q4 2023 - Passage of EED at Indianapolis City County Council
• Q1&2 2024 - Appointment of Board Members
• Q3 2024 - Expiration of ARPA funding for downtown Indianapolis programming
• Q2 2025 - Supplemental assessment fee added to 2024 property taxes

Visit Rethink 65/70 Page

Indiana legislators are out of session.  Check back in January 2024!

National Bills

H.R.1491 Update (9.19.23)

Congress is coming back to Washington this week after lawmakers were home for a month-long summer recess. The Advocacy team was up on Capitol Hill meeting with House and Senate staffers about the issues important to the commercial real estate industry. This week H.R.1491 picked up yet another new cosponsor in Rep. Angie Craig (D-MN). The Small Business Energy Loan Enhancement Act would expand the maximum allowable amount businesses may borrow through the U.S. Small Business Administration 504 loan program for energy efficient investments and upgrades. The 504/CDC program provides small businesses with long term, fixed rate, low-cost loans that can be used to finance renovation and retrofit projects, as well as the purchase of major fixed assets, such as land, equipment and machinery. Among the small businesses that will benefit from this legislation are commercial properties seeking to increase operational efficiency through capital-intensive investments, particularly older building stock. As this top priority now moves through the legislative and committee process, the support and help from BOMA membership is critical. We are asking that you take action through this Capitol Canary campaign link and amplify the messaging of BOMA International on social media If you have questions or would like additional information, please contact Sam Lopez, Director of Federal Affairs, at slopez@BOMA.org.