Mayor Greg Ballard has decided not to pursue a third term next year, sources familiar with Ballard’s plans confirmed to IBJ.

Speculation had swirled in recent weeks about the Republican mayor’s intentions, but he had deflected questions until telling an Indianapolis Star reporter Wednesday afternoon that “it’s time to move on.” He told the newspaper he didn’t know what he’ll do after he completes his final year in office.

Ballard was elected in 2007, riding a wave of outrage over rising property taxes, toppling two-term mayor Bart Peterson in one of the biggest surprises in Indianapolis political history.

Spokesman Marc Lotter said the mayor has called a press conference for noon Thursday at City Market. He would not preview what Ballard will say.

If Ballard, 59, had sought his third term, he faced the prospect of bruising election battle. Two prominent Democrats, former U.S. Attorney Joe Hogsett and state Rep. Ed DeLaney, have jumped into the race. Ballard's tenure was marked by an explosion in downtown development, especially apartment projects, and construction of bike paths across the city. He also funded massive infrastructure improvements by selling the city's water utility to Citizens Energy Group.

“While many cities have struggled over the last seven to eight years, Indianapolis has prospered, and that’s no coincidence,” said Deron Kintner, a former deputy mayor under Ballard.
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