ICBR Supports House Bill to Increase Restaurant Development

INDIANAPOLIS – The Indiana Commercial Board of REALTORS® (ICBR) has announced its support of House Bill 1118 which was passed February 2, and now moves to the Senate.

This bill allows for the creation of ten three-way liquor permits for restaurants in communities located in counties with a population between 270,000 and 300,000 residents, and ten one-way, two-way or three-way permits for restaurants in communities located in counties with a population between 55,000 and 57,000 residents.

The passing of this bill would immediately impact Hamilton and Boone counties.

“The Indiana Commercial Board of REALTORS® supports state legislation that promotes economic development. House Bill 1118 encourages development and redevelopment of commercial real estate in areas designated for that purpose,” says Ken Williams, ICBR legislative committee chair. “Throughout Indiana, commercial REALTORS® have seen firsthand that promoting and enhancing the quality of life in our communities leads to overall economic growth and development. Therefore, we support this legislation.”

Per the bill, the restaurant must be located within an economic development area, an area needing redevelopment or a redevelopment district established under Indiana Code 36-7-14.

Inquiries regarding this statement and ICBR’s advocacy efforts may be directed to Lindsey Knight, CAE, executive director.

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About ICBR
The Indiana Commercial Board of REALTORS® is a commercial overlay board for commercial real estate professionals.  Its members are dedicated to serving the needs of commercial clients in aspects of brokerage, leasing, appraising, property management, and development.  ICBR has a statewide membership base of more than 600 professionals.  For more information, visit the ICBR website at www.myICBR.org.