CIB financial situation improving
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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Articles
Opera directors create $40,000 challenge grant
Indianapolis Opera board Chairman Garry Fredericksen says in a recent appeal for donations that the company is in a “battle
for survival.”IUPUI seeking funds from CIB to renovate Natatorium
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.
Indianapolis Colts, the team L.A. didn’t want
In some strange way, Indianapolis may have Raiders owner Al Davis to thank for having the winningest team this decade.
Some people still ask why L.A. didn’t lasso the Colts when it had the chance.Indiana Historical Society lands $2M for new exhibits
Dubbed the “Indiana Experience,” the exhibits represent the first ticketed tourist attraction at the society’s headquarters building.
Revived Marsh Supermarkets goes up for sale
Florida-based Sun Capital has completed the turnaround of Marsh Supermarkets and now is seeking a buyer
for the home-grown chain. CEO Frank Lazaran told IBJ Sun will sell Marsh “when the market is right, financing
is right, and
someone is willing to pay a fair multiple.”Constantino’s and City Market reach settlement
City Market has agreed to forgive Constantino’s $27,000 in unpaid rent if the meat and produce stand shuts down by Dec.
24.Construction
-Capitol Construction Services Inc., Fishers, has started a 5,254-square-foot tenant build-out for Encore-Sotheby’s
International Realty at 9510 N. Meridian St. The project is scheduled to be completed Jan. 8.-D.B. Klain Builders
LLC, Carmel, recently completed tenant interior renovations of 5,253-square-feet of office space at 4005 Vincennes Road. The
space is occupied by Pillow Express Logistics.-D.B. Klain Builders LLC, Carmel, recently completed tenant build
out of a1,750-square-foot office space located at 1007 3rd Ave., SW, Carmel. The space is occupied by Comm Works.EDITORIAL: Hardball tactics put City Market tenants in a bind
Mayor Greg Ballard can’t have it both ways with City Market.
SPECIAL REPORT: Financial travails dog ‘mystery man’ at helm of Premier Properties
An IBJ review of hundreds of pages of public records shows Christopher P. White and his Premier
Properties USA Inc. are facing major financial and legal challenges. The most glaring signs of trouble: Contractors have filed
more than $3.5 million in liens against Premier’s retail properties in Plainfield; the state of Indiana is trying to
recover $375,000 in sales taxes on White’s airplane; and the contractor who renovated his Lake Clearwater mansion
is suing him to recover more than $600,000 in unpaid bills.Electric car maker plans Indiana manufacturing plant
Norwegian electric car maker Think Global will locate its U.S. manufacturing facility in Indiana, Reuters reported Tuesday,
citing information from a major investor in the company.Construction
-Hagerman Inc. has been named general contractor and MD Architects PC is the designer of a $1 million expansion and renovation of Bangs Laboratories, 9025 Technology Drive, Fishers. The project, which will add 7,500 square feet, is to begin this month and be completed by April.
-Alt Construction has started work on a 3,000-square-foot tenant build-out for Optimal Wellness at 4545 Northwestern Drive, Fishers. The project is scheduled to be completed by the end of this month.
-Alt Construction is finishing a 2,210-square-foot tenant build-out for Dr. Adam W. Brazus at 8433 Harcourt Road.
City Market gets OK to evict anchor Constantino’s
The cash-strapped, half-vacant City Market is playing legal hardball with five current or former tenants that are behind
on rent, a move that’s led to the imminent eviction of Constantino’s Market Place.Losses grow for EnerDel parent, but sales rise
New York-based Ener1 reported late Monday that it suffered a third quarter loss of $15.8 million.
CIB finances improving, though concerns remain
Approaching the end of 2009, Indianapolis’ cash-strapped Capital Improvement Board is on much more solid financial footing.
Indiana voters trending against schools in tax votes
Indiana voters seem willing to pay more in property taxes to help school districts cover operating costs. The results of last
week’s referendums, however, continue the trend against supporting plans for bigger, better schools during tough economic
times.Allen Plaza developer bullish on downtown, eager for next project
J. Greg Allen sees the $14 million Allen Plaza renovation as a message to city leaders that he intends to leave
a lasting mark on downtown.City Market board sought 3-year closure for redevelopment
Board president says he quit after Indianapolis Mayor Greg Ballard declined proposal to shut down historic landmark until
2013 for major renovation.Construction
-TMG Construction Management Inc., Noblesville, will begin construction next week of a new town hall for the town of Trafalgar.
The project, which includes a 1,000-square-foot expansion and 3,400-square-foot renovation of existing space, is scheduled
to be complete by the end of January.-TMG Construction Management Inc. has completed a 1,500-square-foot renovation
for Indy Laser Hair Removal at 55 S. Raceway Road.Wishard hopes to overcome taxpayer skepticism in referendum
Tuesday’s vote will determine if Marion County Health & Hospital Corp. can sell up to $703 million in taxpayer-backed bonds
to replace the county-owned hospital.