Progress slows on city projects

Four projects being paid for with more than $1.2 million in tax dollars were approved about a year ago, but only half have been completed.

Last year, the Franklin Development Corp. agreed to give out grants and loans to four projects that would improve and redevelop areas of the city. The organization, which was created and funded by the city, has paid out about half the money, but two of the projects are not finished and are behind schedule.

Indianapolis developer Indreno is working to renovate 97 E. Monroe St., the historic Alexander carriage shop, into three shops on the first floor and three condominiums on the second floor. But the developer is waiting to get the state to approve building plans before construction can start.

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