IBJNews

NEWSMAKER: Lathrop named new CIB chief

Back to TopCommentsE-mailPrintBookmark and Share
Year In Review

When Indianapolis Mayor Greg Ballard shook up the Capital Improvement Board’s leadership in December, local attorney Bob Grand stepped down and Ann Lathrop stepped up.

CIB oversees the city’s professional sports stadiums and the Indiana Convention Center. It struggled all year to close a projected $47 million budget deficit, slashing a $78 million annual budget to just $51 million in actual expenses.

Ann Lathrop

Lathrop, an executive with Oak Brook Ill.-based public accounting firm Crowe Horwath LLP, had served as CIB’s treasurer. Her prior career included a stint as Indianapolis city controller under Republican Mayor Steve Goldsmith. Those skills proved invaluable in 2009, when the deepening recession forced CIB to quickly replace millions of dollars in bond insurance on its outstanding debt.

“You think about the perfect storm of the recession beating down our normal revenues, whether operating or tax revenues and the perfect storm of the financial crisis meltdown … there’s been some pretty big challenges over the last 18 months,” she said.

As its leader, Lathrop has four priorities for CIB: maintaining financial stability, growing revenue, opening the expanded Indiana Convention Center, and finalizing “next steps” with the Indiana Pacers in determining future funding costs at Conseco Fieldhouse, where the team plays.

Her challenge next year will be to keep lights on and their doors open at the three facilities without making so many CIB budget cuts that they affect services, and thus game or event attendance. Lathrop said CIB can’t cut its way to prosperity. Next year it must focus on revenue generation.

“What we do not want to do is cut to a level that it starts to impact the ability to book that building. That is essential,” she said. “We have to keep services at a level people want to continue to come here as a destination. That is the balancing act.”•

 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. In reality, Lilly is maintaining profit by cutting costs such as Indiana/US citizen IT workers by a significant amount with their Tata Indian consulting connection, increasing Indian H1B's at Lillys Indiana locations significantly and offshoring to India high paying Indiana jobs to cut costs and increase profit at the expense of U.S. workers.

  2. I think perhaps there is legal precedence here in that the laws were intended for family farms, not pig processing plants on a huge scale. There has to be a way to squash this judges judgment and overrule her dumb judgement. Perhaps she should be required to live in one of those neighbors houses for a month next to the farm to see how she likes it. She is there to protect the people, not the corporations.

  3. http://www.omafra.gov.on.ca/english/engineer/facts/03-111.htm Corporate farms are not farms, they are indeed factories on a huge scale. The amount of waste and unhealthy smells are environmentally unsafe. If they want to do this, they should be forced to buy a boundary around their farm at a premium price to the homeowners and landowners that have to eat, sleep, and live in a cesspool of pig smells. Imagine living in a house that smells like a restroom all the time. Does the state really believe they should take the side of these corporate farms and not protect Indiana citizens. Perhaps justifiable they should force all the management of the farms to live on the farm itself and not live probably far away from there. Would be interesting to investigate the housing locations of those working at and managing the corporate farms.

  4. downtown in the same area as O'malia's. 350 E New York. Not sure that another one could survive. I agree a Target is needed d'town. Downtown Philly even had a 3 story Kmart for its downtown residents.

  5. Indy-area residents... most of you have no idea how AMAZING Aurelio's is. South of Chicago was a cool pizza place... but it pales in comparison to the heavenly thin crust Aurelio's pizza. Their deep dish is pretty good too. My waistline is expanding just thinking about this!

ADVERTISEMENT