Mayor, airport, and Sen. Delph announce redevelopment plans for Minnesota Street

INDIANAPOLIS— Mayor Bart Peterson, State Sen. Mike Delph, and airport officials today announced plans to aggressively market and sell airport-owned property along Minnesota St., which includes about 104 acres located near the Indianapolis International Airport.

The sales would result in the generation of new property tax revenues for local government and schools. The properties currently do not generate tax revenue because they are owned by the airport, which is not subject to property taxes.

The airport will:

• Immediately begin surveying and appraising all airport-owned properties along the corridor and make the reports readily available to interested parties;
• Hold a public forum to ensure that all Wayne Township and airport stakeholders are informed and educated about the properties; and
• Develop an aggressive marketing plan, which could include hiring a marketing representative, creating a new website, hosting public meetings, as well as other tactics, to market and sell the property.

“Selling the property would lead to new jobs and businesses on the west side, as well as new property tax revenues for local government services and Wayne Township schools,” Mayor Peterson said. “This property is currently not serving any purpose for anyone, and we don't have the luxury of allowing potential revenue to go untapped.”

“My constituents in Marion County, especially in Wayne Township, face many challenges regarding property taxes,” said Sen. Delph. “Both the Township Trustee and Township Assessor have approached me asking for help on this issue. I want to thank both Mayor Peterson and the Airport Authority for their responsiveness to me. By returning this property to the rolls, we are adding assessed value, which over time can reduce property tax pressure on homeowners. This is a great example of bi-partisan cooperation across levels of government to help Hoosiers. I look forward to further opportunities to work together to help our shared constituents.

Some properties near the airport are not suitable for certain uses, such as family residences, schools and churches, because of aircraft noise. During the 1980s and 1990s, the airport purchased many of these properties along Minnesota St. through the federal noise reduction program. Most are single-family homes and have been vacant for some time.

Even so, the airport has been cautious in buying property that could be on the tax rolls. Since January, 2000, the airport has purchased only seven parcels in Wayne Township. In fact, the airport already has sold one parcel to a private party last November. That property now is back on the tax rolls.

Mayor Peterson, Sen. Delph and Airport Director Patrick Dooley all committed to marketing the remaining properties to potential buyers for commercial or other “noise compatible” uses.

Because the airport currently owns the property, it does not generate property tax revenue. However, many of the businesses located on other airport property generate revenue for the city, local schools and Wayne Township through personal property taxes and special taxes on aviation equipment.

“We enthusiastically support the mayor's effort to redevelop and revitalize the Minnesota Street corridor and return the property to the tax rolls, which was the airport's intent when we started buying property in the area several years ago,” said Indianapolis International Airport Director Patrick Dooley. “This is an important economic development plan for the city, for taxpayers and for the airport. We'll do everything we can to ensure its success.”

“This under-utilized property is ripe for redevelopment,” Peterson added. “New businesses along Minnesota St. will not only bring jobs and economic activity, but also new tax revenues to local government and schools. I am grateful that our newest senator, Mike Delph, has committed to working with us on this project.”