Cherrish S. Pryor317-327-4245
Indianapolis - At the Council's Economic Development Committee meeting tonight, Councillor Jackie Nytes will advise fellow Council members to vote no on the County Economic Development Income Tax (CEDIT) proposal. CEDIT was originally thought to be a tool from the Indiana General Assembly to help offset a possible increase of property taxes once the inventory tax is eliminated in 2007.
Councillor Nytes, Chairwoman of the Economic Development Committee said, "The General Assembly thought they were helping counties when they authorized this use of CEDIT, but after extensive study, it turns out to be inappropriate for Marion County."
The Economic Development Committee held two hearings before the proposal (Proposal No. 100, 2006) was introduced to the full Council. After the introduction, two additional hearings were held and tonight the proposal will be up for a vote.
Councillor Nytes conferred with several individuals and groups regarding CEDIT including the Greater Indianapolis Chamber of Commerce and school districts that will be hit hard with the loss of inventory taxes. Morton Marcus, a teacher of 33 years at Indiana University, testified against the proposal as a way to address the loss of the inventory tax although he believes that IndyGo plays a major part of economic development and spoke in favor of using the funds for that purpose.
Councillor Nytes said, "I would like to see more opportunities available from the General Assembly to allow additional flexibility in how local governments are funded." She said, "Local governments are struggling to meet the needs of citizens and hopefully the legislature will give us some useful alternatives when they return in January 2007."
The Economic Development Committee meets tonight at 5 p.m. in Room 260 of the City County Building.
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