by

Fred Swift

Hamilton County Reporter

County officials tell me it will be in the year 2022 before the city of Noblesville and Hamilton County can jointly get started on the long-discussed Pleasant Street Bypass and White River bridge designed to relieve downtown traffic congestion. At least three more years is a long time to wait.

Not surprisingly, the problem is money. The city doesn’t have enough to get started now although the administration has been gradually buying property along Pleasant for the additional right of way needed for the new roadway.

The county has money to build the bridge, but does not want to proceed until the city is ready. (Bridges are a county responsibility.)

To get the actual work underway, the city could bond the project. This is something that not everyone finds preferable, but it is a way to get improvements underway more quickly, and pay for them in the future.

This project is only one of several outlined by Noblesville officials in recent months. A new police headquarters, the Nickel Plate Trail, more downtown parking, and the rebuilding of Noblesville’s section of the State Road 37 upgrade are the major and most costly of these.

Already underway is the public-private development named the Levinson, the new pedestrian bridge along Logan Street and the Midland Trail. But, to undertake the most expensive projects such as Pleasant Street, a funding source must be found.

When considering bonding, those in favor of such a funding source point out that not only does bonding raise funds quickly, but the people who will enjoy the benefits in future years will pay their share of retiring the debt and paying the interest costs rather than current residents paying the full amount.

There are, in some cases, a couple of other options for financing public projects. A federal transportation grant involving local matching requirements and a lengthy processing period is one way to fund road projects. Tax Increment Financing (TIF) in some cases can be used to assist in redeveloping blighted areas of a city.

On Jan. 1, a new city administration takes office. Chris Jensen, certain to become mayor, has generally supported the plans offered by the current administration of Mayor John Ditslear. But, neither has yet publicly endorsed a specific funding mechanism for the various needs both say exist.

The city community relations office says studies are ongoing.