The Indianapolis Business Journal reports that Speedway, Indianapolis has shelved plans to put five 1,000 square foot billboards on the Speedway water tower.  The picture on the right shows what the tower would have looked like with advertising.  The seasonal panels would have been used from April to October.  The plans were shelved for two reasons:

•  The Metropolitan Development Commission staff said that the 13.5 acre site on which the water tower sits prohibits off-premise advertising.

• Speedway was concerned that the advertising would potentially damage the water tower.

Insider’s take: Another example of municipalities attempting to use their real estate to help fund city services.  Have you approached your community’s water system about renting you space for billboards?

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