Why didn’t CIB get Georgia Street deal?

Keywords Opinion
  • Comments
  • Print

Anthony Schoettle’s Feb. 13 article highlights plans for the newly minted asset of Georgia Street downtown. This $13 million taxpayer-funded outdoor venue connects Bankers Life Fieldhouse on the east and the expanded Indiana Convention Center on the west. Yet, peculiarly, the Capital Improvement Board, which runs the indoor facilities at both ends, will have no part in managing Georgia Street. This venue would seem a perfect additional revenue stream for CIB, which is coming off losing an estimated $800,000 as a result of paying the city’s public safety costs for the Super Bowl.

Instead, under a no-bid contract Indianapolis Downtown Inc., which has a reported cash balance of $8 million, will profit from future events on Georgia Street. Unlike CIB, IDI is not overseen by public officials.

It is a real shame that Mayor Ballard has turned such an expensive community asset with real revenue potential into a missed opportunity to help taxpayers going forward.

Brian Mahern
councilor, District 16, City-County Council

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our updated comment policy that will govern how comments are moderated.