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ICVA unlikely to seek loan to pay for enhanced marketing

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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. If I were a developer I would be looking at the Fountain Square and Fletcher Place neighborhoods instead of Broad Ripple. I would avoid the dysfunctional BRVA with all of their headaches. It's like deciding between a Blackberry or an iPhone 5s smartphone. BR is greatly in need of updates. It has become stale and outdated. Whereas Fountain Square, Fletcher Place and Mass Ave have become the "new" Broad Ripples. Every time I see people on the strip in BR on the weekend I want to ask them, "How is it you are not familiar with Fountain Square or Mass Ave? You have choices and you choose BR?" Long vacant storefronts like the old Scholar's Inn Bake House and ZA, both on prominent corners, hurt the village's image. Many business on the strip could use updated facades. Cigarette butt covered sidewalks and graffiti covered walls don't help either. The whole strip just looks like it needs to be power washed. I know there is more to the BRV than the 700-1100 blocks of Broad Ripple Ave, but that is what people see when they think of BR. It will always be a nice place live, but is quickly becoming a not-so-nice place to visit.

  2. I sure hope so and would gladly join a law suit against them. They flat out rob people and their little punk scam artist telephone losers actually enjoy it. I would love to run into one of them some day!!

  3. Biggest scam ever!! Took 307 out of my bank ac count. Never received a single call! They prey on new small business and flat out rob them! Do not sign up with these thieves. I filed a complaint with the ftc. I suggest doing the same ic they robbed you too.

  4. Woohoo! We're #200!!! Absolutely disgusting. Bring on the congestion. Indianapolis NEEDS it.

  5. So Westfield invested about $30M in developing Grand Park and attendance to date is good enough that local hotel can't meet the demand. Carmel invested $180M in the Palladium - which generates zero hotel demand for its casino acts. Which Mayor made the better decision?

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