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ICVA unlikely to seek loan to pay for enhanced marketing

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On The Beat Industry News In Brief

In August, Indianapolis Convention & Visitors Association CEO Don Welsh told the Capital Improvement Board his organization might seek a loan if the city of Indianapolis can’t come up with $3 million to $5 million in 2010 to market the city to potential visitors.

“We’re going to continue to be diligent—to seek funding that is essential to the viability of the facilities that we own,” Welsh said at the Aug. 10 CIB meeting. “We’re looking at loans ourselves.”

Welsh


“We’ve judiciously and pragmatically presented our case for additional funds. We understand the situation. We don’t like the situation. Unfortunately, it is what it is,” Welsh told CIB members.

The idea of the not-for-profit ICVA’s taking out a loan was not warmly received by city officials. Welsh also discovered financial institutions were less than thrilled with the idea given the ICVA’s diminishing revenue and increasing costs. With its reserve funds shrinking, Welsh discovered the ICVA had little to offer in terms of collateral to secure a loan.

High-ranking City-County Council members on both sides of the aisle said they’d like to fund the ICVA’s expanded marketing initiative, but simply don’t know where they’ll find the money. The City-County Council has until the end of this month to set its budget.

 

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  1. why oh why does this state continue to elect these people....do you wonder how much was graft out of the 3.8 billion?

  2. i too think this is a great idea. I think the vision and need is there as well. But also agree with Wendy that there may be better location in our city to fulfill this vision and help grow the sports of hockey and figure skating in Indy. Also to help further develop other parts of the city that seem often forgotten. Any of the other 6 townships out side of the three northernmost could benefit greatly from a facility and a vision like this. For a vision that sounds philanthropic, the location is appears more about the money. Would really like to see it elsewhere, but still wish the development the best of luck, as we can always use more ice in the city. As for the Ice growth when they return, if schedules can be coordinated with the Fuel, what could be better than to have high level hockey available to go see every weekend of the season? Good luck with the development and the return of the Ice.

  3. How many parking spaces do they have at Ironworks? Will residents have reserved spaces or will they have to troll for a space among the people that are there at Ruth Chris & Sangiovese?

  4. You do not get speeding ticket first time you speed and this is not first time Mr.Page has speed. One act should not define a man and this one act won't. He got off with a slap on the wrist. I agree with judge no person was injured by his actions. The state was robbed of money by paying too much rent for a building and that money could have been used for social services. The Page family maybe "generous" with their money but for most part all of it is dirty money that he obtained for sources that are not on the upright. Page is the kind of lawyer that gives lawyers a bad name. He paid off this judge like he has many other tine and walked away. Does he still have his license. I believe so. Hire him to get you confiscated drug money back. He will. It will cost you.

  5. I remain amazed at the level of expertise of the average Internet Television Executive. Obviously they have all the answers and know the business inside and out.

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