Shelbyville OKs spending $13.8 million on downtown pending Stellar Communities win

Shelbyville is a finalist in the state’s Stellar Communities program, an effort that began in 2010 to spur “economic development, housing, transportation and overall quality of life” in local communities, according to www.stellarindiana.org. 

During the council’s Monday premeeting, DeBaun outlined the wording of the resolution, saying the Stellar program is looking for a commitment from the council to the process.

“So this is like a letter of intent?” asked Councilman David Carmony (R - 2nd Ward) to which DeBaun replied yes.

Councilman Jeff Wright (D - 5th Ward), who read the resolution in the council’s regular meeting, made notes during discussion on how to word it.

According to the resolution, the city will commit to spend $13.8 million on the elements of the Stellar application; the money is to be raised by way of general obligation bonds the city will issue.

A key element of the Stellar proposal is the mayor’s Downtown Redevelopment Plan, which includes significant changes to the Public Square.

Earlier this month, DeBaun said he had eliminated a major expense of the downtown plan – an underground parking garage.

Without the garage, the total cost of the remainder of the redevelopment plan is $19.3 million, according to estimates by Remenschneider Associates Inc., the city’s design consultant.

The city has to submit its plan to the Stellar program committee by July 1. Winners will be chosen later this year.