INDIANAPOLIS, IN – The Libertarian Party of Marion County (LPMC) strongly opposes the proposed
North of South Deal. The proposal (No. 292, 2010) will have the City issue a $98,000,000 bond in order
to secure financing for a private development on the near south side of downtown.
The project is proposed to include a boutique hotel, a YMCA, upscale apartments, and more in a mixed
use development led by Buckingham Cos. A proposal was ready to go before the City-County Council
until it was removed from the agenda prior to the February 7 meeting.
“We have another case of corporate welfare about to go before the Council,” says LPMC Chair Matt
Wittlief. “The project failed to secure private funding, so the City has gone back to its bag of tricks to
provide corporate welfare in the name of economic development. The project is too risky for private
banks – banks that took risky bets and nearly collapsed the economy. We have our own version of too-big-
to-fail here in Indy: too-politically-connected-to-not-get-taxpayer-money.”
Mayor Greg Ballard was quoted in the Indianapolis Business Journal in September saying, “Traditional
credit does not exist in this environment.”
Wittlief adds, “In this environment we have the billionaire owners of the Pacers and the Colts getting
handouts. We also have a history of proposed economic development projects which have not come to
fruition. This is not the environment of the free market. It’s the environment of private investment
recognizing risks and the government getting involved thinking that it knows better. We are glad that
the vote was postponed tonight due to insufficient notice given to the public. Hopefully, the residents
of Marion County will gain more awareness of this proposal and refuse to put their livelihood at risk
when banks were not willing to do so.”
The Libertarian Party is the third largest political party in the United States, and is the only non-major
party with ballot access in the state of Indiana. Libertarians believe in a small non-intrusive government
that is financially responsible, administratively competent and socially tolerant.
Libertarian Party of Marion County
LPMC Contact: Matt Wittlief, LPMC Chairman, 317.660.LPMC or chair@indylp.org
LPMC Website: www.indylp.org
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