NEW ALBANY, Ind. (WAVE) – In a narrow vote, the New Albany Common Council approved a multi-million dollar proposal from Mayor Jeff Gahan that would allow the city to finance several major projects around the city.
The council passed a resolution that will authorize the New Albany Redevelopment Authority to issue a maximum of $30 million in lease rental revenue bonds, of which, $18 million will be used to fund projects around the city and the remaining $11.4 million will refinance existing debt.
The proposal includes building a new animal shelter that would be located on Obama Way and would cost an estimated $6.5 million…