The rail line used to host the Indiana State Fair train may be pulled up and converted into a trail.
The Fair Train, operated by the Indiana Transportation Museum, last operated in 2015 when it carried more than 10,000 passengers.
However, the Hoosier Heritage Port Authority, which owns the rail line, would not allow ITM to operate the Fair Train or any other trains on the line in 2016.
The HHPA says that the line needs $5 million in safety investments before it can be used for rail service again.
The line extends from the fairgrounds along 38th Street in Indianapolis northward through Fishers and Noblesville.
The museum is based in Noblesville but in recent years the Fair Train has originated in Fishers.
If built, the trail would be similar to the Monon Trail, which uses a former Monon Railroad right of way that in the 1980s hosted the Fair Train.