Midtown Economic Council (MEC)
In early 2009 neighborhood leaders in parts of Midtown Indianapolis gathered informally to advocate for economic reinvestment and the activation of economic tools to help stimulate growth and redevelopment in Indianapolis’ Midtown. In 2011 the group, together with key stakeholders and residents, lead efforts to secure the North Midtown Economic Development Area, a designation which helped to formally establish the need for additional resources and key economic tools. In 2012 the group adopted the name, Midtown Economic Council (MEC). In March of 2013, after more than 4 years of advocacy, the MEC and its partners secured the North Midtown Tax Increment Finance District and was formally recognized by the City-County Council in its adoption of the enacting TIF resolution.
The MEC received a charge from the City-County Council to oversee the community’s interests in the North Midtown TIF and to make recommendations to the City’s Metropolitan Development Commission about the investment of TIF proceeds. MEC members gathered to create a formal operating agreement which would help to ensure the success of the TIF, ensure that the TIF proceeds are invested strategically toward the community’s core objectives in a way that would help stakeholders balance interests along the way.
In early April 2013 the MEC met with the City’s Metropolitan Development Commission (MDC) to share its guiding principles and to seek the MDC’s cooperation in implementing the TIF collaboratively over the decades to come. The MEC pledged to the MDC that it would develop clear goals and objectives and a process that would encourage projects which were:
1. Consistent with community identity and vision
2. Transit supportive/Residential density
3. Urban in design/include an appropriate strategy for parking
4. Mixed use
5. Equitable-Provides jobs, attracts residents, and benefits the existing residents and businesses
6. Contributes to or enhances the public realm
In the attached document, the MEC seeks to further define its guiding principles in articulating procedures that seek to balance transparency for the sake of public trust while offering confidentiality in key stages of project development to secure the confidence and cooperation of the development/investor community. It is our sincere hope that the MEC’s process will encourage collaboration between public representatives and private developer/investors. Such collaboration will result in better projects for the community and clear direction for the developer, helping to save precious time and limited resources.
Click the above picture to view the Midtown Economic Council Charter Document