Capital Improvement Board

City-County Council approves 2011 budget

October 25, 2010
 IBJ Staff
The CIB's $73.1 million budget, which included a $10 million payment to the Pacers for the operation of Conseco Fieldhouse, passed by a 15-14 vote.
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Some council members still unsure about CIB budget

October 25, 2010
Francesca Jarosz
The Capital Improvement Board’s controversial spending plan will face its final trial Monday night as the City-County Council takes up the city’s $1.1 billion budget for next year.
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CIB budget could face rough ride in council

October 11, 2010
Francesca Jarosz
Some City-County Council members are skeptical of the Capital Improvement Board's spending plan for 2011 that includes $10 million for the privately operated Indiana Pacers.
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Conseco Fieldhouse to get new video signage

September 14, 2010
Scott Olson
The new "video ribbon," which could cost up to $1.6 million, will be paid for with funds from the Capital Improvement Board. It will be installed around the entire upper fascia of the arena between the second and third levels.
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CIB approves 2011 budget

August 30, 2010
Scott Olson
Including debt obligations, the CIB's total budget for 2011 is expected to be $104.4 million. The City-County Council is set to receive the budget at its Sept. 20 meeting and could approve it Oct. 25.
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CIB's 2011 budget slated to grow by $10 million

August 27, 2010
Scott Olson
Capital Improvement Board president says initial $10 million payment to the Indiana Pacers is not only reason for the larger budget. Rather, she insisted it's largely due to $5 million in renovations slated for Conseco Fieldhouse and other CIB-operated facilities.
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CIB approves $33.5 million deal to keep Indiana Pacers

July 16, 2010
Mason King
The three-year agreement is designed to help the franchise shoulder the costs of operating Conseco Fieldhouse. One dissenting voice called the team and city back to the negotiating table for a longer-term deal.
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CIB saves $1M after state agrees to lower loan rate

July 16, 2010
Anthony Schoettle
State officials decided to reduce the interest rate on a $9 million loan to the city's Capital Improvement Board by 1 percentage point. The news couldn't come at a better time for the agency, which is trying to find money to assist the Indiana Pacers.
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UPDATE: CIB wringing money from general operating fund to pay Pacers

July 12, 2010
Anthony Schoettle
A combination of taxes targeting downtown visitors and users of the city's professional sports complexes are expected to generate the bulk of the subsidy.
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CIB audit shows agency finances improving

July 2, 2010
Scott Olson
The Capital Improvement Board earned $10 million last year after reporting a $16.8 million loss in 2008. Its financial future is clouded, however, by talks with the Indiana Pacers over Conseco Fieldhouse operating costs.
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Pacers, CIB still talking post-deadline

July 1, 2010
Scott Olson
A June 30 deadline imposed by the basketball team passed with no agreement on who will pay Conseco Fieldhouse operating expenses, but both sides remain optimistic a deal will get done soon.
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CIB, Pacers discussing three-year deal

June 17, 2010
Anthony Schoettle
City officials want to wait until economy, National Basketball Association labor situation stabilize before entering longer-term deal. Optimism remains deal can get done by June 30.
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City not ready to privatize Capital Improvement BoardRestricted Content

June 5, 2010
Peter Schnitzler
Mayor Greg Ballard has put privatization of Indianapolis’ stadium and convention center management on indefinite hold.
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CIB agrees to help Black Expo, but not with grant

May 11, 2010
Scott Olson
Capital Improvement Board votes not to restore IBE's annual $150,000 grant, but agrees to provide the organization with in-kind services equaling the amount.
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Study: Pacers, Fever add $55M to local economy each year

May 10, 2010
Scott Olson
The Indiana Pacers and Indiana Fever contribute an estimated $55 million a year to the Indianapolis economy, according to a study conducted by Chicago-based hospitality consulting firm Hunden Strategic Partners.
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CIB set to release results of Pacers impact study

May 10, 2010
Scott Olson
The report from a Chicago consulting firm will detail how much the Indiana Pacers contribute to the local economy, as the Capital Improvement Board negotiates with team officials over paying $15 million in annual Conseco Fieldhouse operating costs.
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Pacers' woes tied to Lucas Oil Stadium deal

April 16, 2010
Anthony Schoettle
Five years ago, the Indiana Pacers ownership was not included in discussions about a potential new downtown home for the Indianapolis Colts, and now city and Pacers officials are paying the price.
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Pacers playing hardball with city on lease

April 14, 2010
Anthony Schoettle
The Indiana Pacers set a June 30 deadline to get a deal worked out to operate Conseco Fieldhouse. The team wants $15 million annually.
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CIB takes Black Expo grant request under consideration

April 13, 2010
Local not-for-profit wants annual $150,000 grant from the Capital Improvement Board restored to better market the Circle City Classic.
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Black Expo making pitch for lost CIB grant

April 12, 2010
Scott Olson
Not-for-profit hopes to have $150,000 in annual funding restored, particularly now that it has taken on the additional duties related to the Circle City Classic.
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NCAA, city still hammering out long-term deal

April 2, 2010
Anthony Schoettle
The NCAA and city put together a deal to cover insurance and liability issues for this year's Final Four, but are still finalizing an agreement that assures the event comes back regularly through 2039.
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CIB turns down Axe deodorant ad for stadium

March 9, 2010
Scott Olson
The Indianapolis Capital Improvement Board on Monday rejected a request from Axe deodorant to place an advertisement in Lucas Oil Stadium because the message is too racy for youngsters.
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Low-profile CIB leader embraces tough financial task

March 6, 2010
Scott Olson
Lathrop Watch VideoAnn Lathrop's interactions with the Indiana Pacers and Indianapolis Colts aren't what she might have envisioned as a young college student pursuing a career in sports medicine. Now president of the city's Capital Improvement Board, her relations with the teams are tied to their financial conditions rather than the health of their players.
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ICVA receives $5.4M gift to promote Indianapolis

January 28, 2010
Scott Olson
The Indianapolis Convention & Visitors Association said Thursday that it has received a $5.4 million gift to help market the city's tourism and convention industries. The grant comes from a foundation headed by the developer of the Marriott Place hotel complex under construction downtown.
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Hamilton County tourism leader selected to join CIB

January 18, 2010
Scott Olson
Brenda Myers, executive director of the Hamilton County Convention and Visitors Bureau, rounds out the appointments to a restructured Indianapolis Capital Improvement Board.
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