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The Indianapolis Local Public Improvement Bond Bank

Issuer Type: Pool/Bond Bank/Conduit

Bond Ratings

1 of 5

General Obligation

Fitch
AAA
Moody's
Aaa
S&P
AA+

Revenue

Moody's
Aa2

Lease

Fitch
AAA

Moral Obligation

S&P
AA-

IndyRoads Series 2019F

S&P
AAA

On behalf of the Indianapolis Bond Bank, I would like to welcome you to our new investor relations website. We appreciate your interest and investment in bonds issued by the Indianapolis Bond Bank, as it allows us to make critical investments in public infrastructure throughout Indianapolis. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.

I hope you find this website useful as you seek to better understand the credit fundamentals of the Indianapolis Bond Bank. Please do not hesitate to contact our office with suggestions for how we can be doing better. Thanks again for your interest in our bond program.

Sincerely,

Sarah S. Riordan
Executive Director & General Counsel

News & Highlights

May 13, 2020

News
ILPIBB May Board Meeting Cancellation

Notice is hereby given that the Meeting of the Board of Directors of The Indianapolis Local Public Improvement Bond Bank previously scheduled for Monday, May 18, 2020, at noon, City-County Building (Room 260), 200 East Washington Street, Indianapolis, Indiana has been cancelled. The next Meeting of the Board of Directors is scheduled for Monday, June 15, 2020.

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April 22, 2020

Press Release
Indianapolis Department of Public Works Announces 2020 Construction Season Projects

INDIANAPOLIS – The Indianapolis Department of Public Works (Indy DPW) today announced upcoming construction projects included in its 2020 capital projects plan to improve roads, rehabilitate bridges, increase pedestrian safety and improve stormwater drainage.

Each spring as the weather warms, contractors working on Indy DPW projects resume work from the previous season and begin construction on improvements in new locations. Deemed essential under Indiana’s current Stay-At-Home executive order, this year’s construction projects will move forward at each contractor’s discretion and with Indy DPW’s strong direction to heed all social distancing guidelines.

View the full 2020 Construction Season list and map, showing where work will be occurring this year.

Construction work this year will include:

  • 232.7 lane miles of street rehabilitation
  • 10.2 lane miles of strip patching
  • 21,380 linear feet of new trails
  • 21,870 linear feet of new sidewalk
  • 31,276 linear feet of sidewalk rehab
  • 11 bridge projects, including the installation of new bridges and rehabilitation of old bridges.
  • 22,021 linear feet of storm sewers.

Indy DPW has programmed $134 million in transportation projects and $35 million in stormwater projects for year 2020. 

Major projects beginning work in the 2020 construction season include:

  • The installation of a raised five-span multimodal bridge on the Monon Trail constructed at the 38th Street crossing. This $5.6 million investment will improve trail safety and mobility by eliminating the crossing and include sidewalk connectivity as well as hosting a Pacers BikeShare Station.
  • Rehabilitation of 19.2 lane miles of street rehabilitation along Keystone Avenue from 39th Street to 65th Street. The $7.66 million investment includes full-depth asphalt repairs, milling and resurfacing as well as sidewalk and curb repair, curb ramp installation, and drainage improvements.
  • Storm drainage improvements in the westside Furman Stout neighborhood to mitigate chronic flooding on residential streets. This $5.4 million investment will be broken down into two phases; work is underway on the first phase, south of Rockville Road. The second phase, primarily north of Rockville Road, is expected to begin this year.
  • Work to extend the Pennsy Trail from German Church to Post Road ($2.689 million) and Post to Shortridge Roads ($1.892 million) in Warren Township. Both projects will feature a continuous multi-use path, pedestrian beacons, enhanced lighting, and drainage improvements when complete in summer 2021.

For more information on current and upcoming DPW construction projects visit www.indy.gov/dpw

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March 30, 2020

Press Release
Mayor Hogsett & Indy Chamber Announce Nearly $3M Toward $10M Goal for Small Business Support Loan Fund

Mayor Joe Hogsett joined leadership of the Indy Chamber today to announce nearly $3 million in investments committed for a Rapid Response Loan Fund for small businesses affected by the COVID-19 pandemic, including $1.5 million from City of Indianapolis sources. The Indy Chamber also issued a challenge to top area businesses and financial institutions to provide additional funding and support toward its $10 million goal for the fund. More information on the Rapid Response Loan and the process to apply is available at response.indychamber.com/loans.

“It’s clear that restrictions are necessary to help curb the spread of COVID-19, but we know that small businesses and their employees are hurting as a result,” said Mayor Joe Hogsett. “As we face this pandemic, leaders from public, private, and philanthropic organizations must work collaboratively and fight for the continued success of our community. History has shown that when Indianapolis faces significant hardship, our community rallies together. Today’s announcement is one of many steps our city’s leaders are taking in order to support and preserve the businesses that form the backbone of our economy.”

$1 million in loan capital contributed by Capital Improvement Board (CIB) is earmarked for the food and beverage industry, two industries significantly affected by the first wave of the COVID-19’s business impact. CIB-funded loans will offer working capital to existing food and beverage industry entrepreneurs to keep their businesses afloat, providing bridge loans while traditional financing or disaster recovery loans from the U.S. Small Business Administration materialize.

"Our restaurants and bars are part of what fuels Indianapolis as a convention and event city. We want to do our part to help our partners in the entertainment and restaurant industries be there to welcome our convention business back when it returns,” said Andy Mallon, executive director of the Capital Improvement Board.

Also in today’s announcement, the Indianapolis Local Public Improvement Bond Bank has committed $500,000 toward this fund.

“To keep our focus on making critical investments in public infrastructure throughout Indianapolis, there must be thriving neighborhoods and thriving neighborhood businesses,” said Sarah Riordan, Executive Director and General Counsel for the Indianapolis Bond Bank. “Small business is a driving force for a growing community, and our commitment today is one in the future of our great city.”

In addition to contributions from the City of Indianapolis, Indy Chamber President and CEO Michael Huber issued a call to action for top area funders to invest in this loan fund with a target goal of $10 million. Private and philanthropic funds raised will extend to all eligible small businesses in the 9-county region.

“Time is of the essence for local entrepreneurs and small businesses,” notes Huber. “While federal loans and tax credits will provide significant relief, our businesses need more immediate financial support. We are calling on all major employers, financial institutions, and philanthropic organizations to join us as we invest in the livelihood of our small business community.”

Anthem has committed $1 million dollars to this fund.

“It is imperative that we do everything we can to support the nearly 43,000 small businesses in the Indianapolis region during this time of uncertainty,” said Anthem President and CEO Gail K. Boudreaux.  “As an Indianapolis-based company for 75 years, we are committed to improving the health of our community and the health of our local economy at this crucial time.”

Other initial funders include the Indy Chamber ($300,000) and LISC Indianapolis ($75,000). Today’s total announced commitments of $2.8 million add to the loan fund’s existing $840,000 balance, bringing the fund to just over $3.7 million toward a $10 million goal.

The Rapid Response Loan Fund will be administered by Business Ownership Initiative (BOI) and other partners. BOI, a program of the Indy Chamber, recently pivoted its focus to emergency assistance for small businesses affected by COVID-19 via free one-on-one business coaching and access to lending capital. Indy Chamber staff, as well as faculty and alumni of the IU Kelley School of Business at IUPUI, leaders of the Indianapolis Bar Association, communications professionals at Vox Global, and other subject matter experts are on call to field small business questions via the Chamber’s Rapid Response Hub.

For more information on loan requirements and steps to apply, visit response.indychamber.com/loans.

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