Capital Improvement Board

Lucas Oil Stadium lease for Final Four is on CIB's front burner

January 9, 2010
 IBJ Staff
Greg Shaheen, NCAA senior vice president of basketball and business strategies, said the deal needs tweaking because Lucas Oil Stadium was in the conceptual stages when Indianapolis won the bid to host the 2010 Final Four.
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Here are some ways to help the CIB

January 9, 2010
Is there enough money coming in to keep the city's world-class sports facilities maintained, pay them off, put enough away for the inevitable refurbishing that they will need over time and also promote Indianapolis?
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Big companies seek chance to bid on CIB privatization

January 8, 2010
Peter Schnitzler
Indianapolis receives a dozen responses to its proposal to privatize management of Lucas Oil Stadium, the Indiana Convention Center and, perhaps, Conseco Fieldhouse.
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CIB financial situation improving

December 26, 2009
Scott Olson
The past year has been mighty unkind to the Capital Improvement Board, the entity charged with operating the city’s professional sports venues and Indiana Convention Center.
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City tries to raise cash by privatizing operations

December 26, 2009
Peter Schnitzler
Indianapolis Mayor Greg Ballard pulled out his predecessor Steve Goldsmith's Republican playbook and began exploring a host of privatization proposals in an effort to save money.
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New CIB membership nearly set

December 17, 2009
Scott Olson
Marion County Commissioners reappointed Doug Brown on Thursday morning to the Indianapolis Capital Improvement Board, leaving only one seat open on the nine-member panel whose financial troubles this year have elevated its profile.
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IUPUI seeking funds from CIB to renovate Natatorium

December 14, 2009
Scott Olson
IUPUI says it needs about $15 million to renovate the aging Natatorium swimming complex and wants the city's Capital Improvement Board to fund part of the expense.
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Ballard set to shake up CIB with staff moves

November 24, 2009
Peter Schnitzler
CIB Treasurer Ann Lathrop will become board president, replacing Bob Grand at the helm of the organization that oversees the city's professional sports stadiums and the Indiana Convention Center.
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Heavyweights may vie to manage venues for troubled CIBRestricted Content

November 21, 2009
Peter Schnitzler
An aide to Mayor Greg Ballard says he hopes a private operator can find “operating and maintenance savings in the millions."
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CIB may accept $27 million state loan after all

November 9, 2009
Scott Olson
The Indianapolis Capital Improvement Board likely will accept a state loan providing $27 million over three years to help shore up its fragile financial situation.
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CIB finances improving, though concerns remain

November 9, 2009
Scott Olson
Approaching the end of 2009, Indianapolis' cash-strapped Capital Improvement Board is on much more solid financial footing.
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Members of City-County Council form task force to study CIB financial problems

November 7, 2009
 IBJ Staff
A new task force formed this month is charged with recommending solutions to the financial problems of the Indianapolis Capital Improvement Board and its related convention and tourism issues.
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City official: 'We're obligated' to weigh privatizing some stadium, convention duties

October 21, 2009
Peter Schnitzler
Mayoral Chief of Staff Paul Okeson said the city isn't sure it makes sense to privatize operations now handled by the Capital Improvement Board, “but we’re obligated on behalf of the taxpayer to find out.”
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CIB improves financial situation with more cuts

October 13, 2009
Scott Olson
The Indianapolis Capital Improvement Board's dire financial situation might be improving enough that it may forego the first installment of a $27 million state loan.
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NCAA, city haggle over Final Four rental dealRestricted Content

September 19, 2009
Anthony Schoettle
A little more than six months before the 2010 NCAA men’s Final Four is set to tip off at Lucas Oil Stadium, the NCAA has not yet finalized a rental deal for the facility. While officials for the NCAA and Local Organizing Committee, the group charged with operating the event in Indianapolis, downplay any problems, sports business experts say it is unusual not to have an agreement pinned down in the months leading up to the event.
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More layoffs, furloughs possible for cash-strapped CIB

September 14, 2009
Scott Olson
The financial condition of the city’s Capital Improvement Board, though improving, is still dire enough that employees of the Indiana Convention Center could be subjected to more unpaid furloughs or layoffs.
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ICVA unlikely to seek loan to pay for enhanced marketing

September 12, 2009
 IBJ Staff
The idea of the not-for-profit Indianapolis Convention & Visitors Association taking out a loan was not warmly received by city officials. And financial institutions were less than thrilled with the idea given the ICVA’s diminishing revenue and increasing costs.
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ICVA: Stadium's retractable roof worth the cost

August 29, 2009
Anthony Schoettle
Three music events with direct visitor spending estimated at $28 million that were hosted at Lucas Oil Stadium offer proof, city officials said, that the expense of the retractable roof and other features of the $720 million facility are paying off.
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ICVA might take out loan to market city for conventionsRestricted Content

August 24, 2009
Anthony Schoettle
The Indianapolis Convention & Visitors Association is so desperate for more marketing funding, the organization charged with promoting the city as a convention and tourism destination is considering taking out a loan. While that would be the last resort, ICVA CEO Don Welsh said it is one he will have to consider if the money can’t be raised through local taxes.
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EDITORIAL: Partisan games plague councilRestricted Content

August 17, 2009
The City-County Council wisely averted disaster for the Capital Improvement Board Aug. 10 by voting to raise the city’s hotel tax from 9 percent to 10 percent, but the razor-thin vote was another disappointing case of elected officials making decisions based on partisanship rather than good judgment.
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EDITORIAL: Leadership void stymied special legislative sessionRestricted Content

July 6, 2009
 IBJ Staff
The legislative session that concluded June 30 with passage of a two-year budget left a bad taste in our mouths. For starters, legislators lacked the courage to tackle local government reform—even though cash-strapped units of government desperately need the millions of dollars in savings they would generate. In short, they put political cronyism ahead of the interests of the state.
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$65M development deal would cost Capital Improvement BoardRestricted Content

June 22, 2009
Cory Schouten
The Capital Improvement Board could be forced to give up one of its most profitable assets so the city can pull off a $65-million public-private downtown development deal. The city has agreed to help a developer revitalize the vacant former Bank One operations center in part by acquiring an adjacent parking garage for $18.5 million.
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$65M downtown development deal raises questionsRestricted Content

June 15, 2009
Cory Schouten
A $65 million public-private plan for the redevelopment of a vacant downtown office building is raising eyebrows for its unusual approach and potential risk to taxpayers. The plan calls for a private developer to acquire the former Bank One operations center, surface parking lots and an adjacent parking garage from a private owner for $18.5 million, then sell the 1,680-space garage to the city for $18.5 million.
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Arts Council faces grants-divvying dilemmaRestricted Content

June 1, 2009
Kathleen McLaughlin
The Arts Council of Indianapolis faces the unenviable task of divvying up less than $1 million in city grants for the arts, compared with $2.15 million that was awarded last year.
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Panel handicaps market recovery chancesRestricted Content

May 25, 2009
Cory Schouten
A panel of five veterans of real estate and construction provided industry insights at IBJ's Power Breakfast May 1 at the Westin Indianapolis.
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  1. I am so impressed that the smoking ban FAILED in Kokomo! I might just move to your Awesome city!

  2. way to much breweries being built in indianapolis. its going to be saturated market, if not already. when is enough, enough??

  3. This house is a reminder of Hamilton County history. Its position near the interstate is significant to remember what Hamilton County was before the SUPERBROKERs, Navients, commercial parks, sprawling vinyl villages, and acres of concrete retail showed up. What's truly Wasteful is not reusing a structure that could still be useful. History isn't confined to parks and books.

  4. To compare Connor Prairie or the Zoo to a random old house is a big ridiculous. If it were any where near the level of significance there wouldn't be a major funding gap. Put a big billboard on I-69 funded by the tourism board for people to come visit this old house, and I doubt there would be any takers, since other than age there is no significance whatsoever. Clearly the tax payers of Fishers don't have a significant interest in this project, so PLEASE DON'T USE OUR VALUABLE MONEY. Government money is finite and needs to be utilized for the most efficient and productive purposes. This is far from that.

  5. I only tried it 2x and didn't think much of it both times. With the new apts plus a couple other of new developments on Guilford, I am surprised it didn't get more business. Plus you have a couple of subdivisions across the street from it. I hope Upland can keep it going. Good beer and food plus a neat environment and outdoor seating.

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