INDIANAPOLIS – City Market’s board of directors will meet on Monday to discuss a plan that will provide rent relief to ailing vendors.
Some traders have seen their business fall 50 percent or more over the past year as a result of the COVID-19 pandemic shutdown, fewer downtown workers, and construction that closed Market Street. At least ten food stalls are empty in the market.
The board of directors of the market may decide to postpone some rental payments for the remainder of the year. Full repayments would not be due until 2022.
HAPPEN TODAY: @IndyCM’s board of directors meets to discuss possible rent relief for suffocating providers. The companies there had a challenging year with COVID, construction and fewer people downtown. pic.twitter.com/CVd6wExzuK
– Eric Pointer (@EricPointerTV) May 17, 2021
At the same time, market management tells vendors whose business relied on the crowd at lunch to diversify their hours of operation and service.
“When you find yourself in such an environment, it goes without saying that companies come and go and factors that determine what factors are important to any business,” said Keisha Gray, executive director of City Market.
“I would like to believe that we can celebrate the dealers and companies that are still here trying to try.”
Gray also says that despite construction, some think they have closed, but the market has and will remain open throughout the process.
“We have dealers here and this is their life’s work and dreams. We try to support them as best we can,” said Gray.
“This particular building has a rich history and there are people who love that about us. We’re not trying to be the newest and shiny. We are here and we have been here for a very long time and it is anchored in people’s lives. ”
The Board of Directors has also discussed the possibility of giving struggling providers the opportunity to terminate their rental contracts prematurely without a contractual penalty.
Market officials also say they may go to the city council to request additional funding of up to $ 250,000 this year to help balance their budget.
Despite the difficult year, some new vendors have come on board the City Market, including Maxine’s Chicken and Waffles.
The Original Farmers’ Market is usually in front of the City Market building but has had to move due to construction. This year it will be on Market Street in front of Whole Foods.
The goal is that people can keep visiting the city market building when they go to the farmers market because they are so close.
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