The ordinance, sponsored by Friend, will be up for first reading April 28.
We're told the ordinance proposes funding the IU Med Center for $51.1 million.
$8.3 million of that would be used to acquire D-Patrick's downtown property.
The council is hoping to have the car dealership paid off by June 1.
Friend tells us there is a risk involved with passing this ordinance.
If the state chooses not to approve the deal, the city would be stuck with D-Patrick's property.
Friend says he remains optimistic about the deal because "the reward is so great."