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CIB to provide $5M for natatorium maintenance

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The Capital Improvement Board of Managers of Marion County will give the Indiana Sports Corp. $500,000 a year for the next 10 years to create a reserve fund for maintenance on the IU Natatorium at IUPUI.

The CIB voted 5-2 on Monday afternoon in favor of a resolution, which kicks in this year, for the ongoing grant to the Indiana Sports Corp.

CIB Chairwoman Ann Lathrop said the board, which oversees Bankers Life Fieldhouse, Lucas Oil Stadium and the Indiana Convention Center, also has an interest in the success of other sports facilities for which it isn't directly responsible. The natatorium, owned by IUPUI, is being overhauled by Indiana University with assistance from the Lilly Endowment in time for the 2016 Olympic diving trials.

CIB members Maggie Lewis, president of the Indianapolis City-County Council, and Doug Brown voted against the resolution.

To those who question whether the CIB should be spending more money when the city faces an ongoing revenue deficit, Lathrop said, "Come downtown this weekend. Look at the tax revenues that are generated."

The money is being spent on facilities that generate economic activity in the first place, Lathrop said.

"Without us I believe the budget problem would be worse," she said.

Allison Melangton, president of the ISC, which promotes amateur sports events, said that even though the natatorium is receiving an overhaul, it would be wise to set aside a reserve fund for capital expenses that may arise, such as replacing air-conditioning units, or the indoor air-filtration system.

The CIB will make the first $500,000 grant this year. Though that money wasn't included in the CIB's budget, Lathrop said the CIB can afford it because its expenses are running below budget, and it has a $7.7 million cash reserve.

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  • General Assembly
    Good luck getting any changes from the state legislature that will stop this madness. The downtown mafia makes sure they are taken care of whenever they need free tickets to Colts or Pacers games or want a free dinner at St. Elmos.
  • shocking
    Its a gross abuse of our tax money. I agree with Paul Ogden. Its time the legislature stepped in and dissolved the CIB. Someone has to protect the taxpayers. The University can maintain its own swimming pool. We taxpayers want police protection, not all this capital improvement business. These TIF zones and CIBs and Indianapolis Bond Banks are stealing us blind.
  • General Assembly
    I put a lot of the blame for the CIB's antics at the collective feet of the Indiana General Assembly. The CIB was created through legislation. It can be disbanded through legislation. A few years ago the CIB went to the legislature falsely claiming that it was deeply in the financial hole and received a bailout from the legislature and the right to have the Council raises taxes to give it more money, which of course the Council did. It turns out the CIB had a lot of money after all, deciding to give $10 million plus yearly to the Pacers and millions more to improve a building owned by a university. The clowns at the CIB have no interest in protecting taxpayers or being responsible stewards of our public dollars. It's time that the legislature simply pass a law to disband the CIB and give the organizations function to an entity that will be more responsible.
  • Here we go again
    Again and again we taxpayers are bilked (no ROBBED) by cib. I want the right to VOTE on whether or not 5 million of my dollars supports the natitorium
  • ???
    Why are Indianapolis taxpayers paying for maintenance on a building the city does not even partially own????

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