The city will back two major projects involving a new parking and residential development and a new YMCA.
The YMCA is about $2 million short of its $10.2 million goal to build the facility, but a loan is covering the cost of construction.
The city of Kokomo has $10 million in reserves and a structural surplus in its yearly budget.
City officials break ground Wednesday at the future location of the YMCA northwest of Bloomington.
The Monroe County YMCA will break ground on the Northwest on Wednesday.
The Monroe County YMCA will soon be opening a new location, courtesy of a major grant.
A $150-million mixed use development project is being planned for downtown Indianapolis.