CIB approves $62 million in contracts for Fieldhouse overhaul
The board approved eight bids—mostly to local firms—for the first and second phases of the $360 million project.
Capital Improvement Board
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2019 YEAR IN REVIEW: Lawmakers OK funding plan for arena updates, soccer stadium
The law, which passed with bipartisan support in April, created funding plans for most of a $360 million renovation of Bankers Life Fieldhouse and the construction of a $150 million soccer stadium for the Indy Eleven by diverting millions of dollars in annual state tax revenue to the Capital Improvement Board.
Experts say CIB is thin on liability coverage for event venues
The board carries $56 million in liability insurance for its facilities, including a $1 million general liability policy and a $55 million umbrella policy.
Pacers-CIB deal gets final approvals from City-County Council
The move pushes forward the Capital Improvement Board’s deal with the Pacers, which calls for more than $360 million in renovations to Bankers Life Fieldhouse.
New CIB leader Andy Mallon is mix of ‘bulldog,’ ‘cool head’
The 43-year-old Indianapolis native will have to carry out a slate of calculated moves designed to give the quasi-government agency a more sound financial future, including a 25-year vision.
CIB seeking $320M in bonds for Bankers Life Fieldhouse project
A committee of the Indianapolis City-County Council has signed off on bonds and financing the Capital Improvement Board needs for its share of the $360 million overhaul of Bankers Life Fieldhouse.
Council OKs proposals to help fund CIB’s 25-year plan
The Indianapolis City-County Council on Monday overwhelmingly approved proposals to help fund the Capital Improvement Board’s long-term strategic plan, including chipping in $270 million to help fund a massive overhaul of Bankers Life Fieldhouse.
City-County Council panel OKs funding plan for CIB, holds off on Pacers plan
The Rules and Public Policy Committee on Tuesday decided to table two items related to a long-term deal with the Indiana Pacers.
Andrew Mallon chosen as first new CIB director in 28 years
Andrew Mallon, corporation counsel for the city of Indianapolis, was approved Friday morning as executive director of the Capital Improvement Board, replacing longtime leader Barney Levengood.
City commission OKs sports development area expansion crucial for CIB
The Metropolitan Development Commission voted unanimously Wednesday to approve a resolution expanding the city’s primary professional sports development area, or PSDA, to include nine additional downtown hotels.
IBJ Podcast: Funding the CIB and the Pacers’ 25-year, $800 million deal
Podcast host Mason King talks with IBJ reporters Lindsey Erdody and Mickey Shuey about the legislation the General Assembly passed to help fund a 25-year, $800 million deal with the Indiana Pacers.
Amid tensions, plans for Hilton hotel towers on Pan Am Plaza advance
A powerful group of hoteliers that opposes a proposal to build a pair of hotels on Pan Am Plaza scored a victory in the Legislature. But the plan to construct the project remains very much alive.
Lawmakers send funding bill for Pacers, soccer stadium to governor
State lawmakers have given their final approval to legislation that creates funding plans for most of a $360 million renovation of Bankers Life Fieldhouse and the construction of a $150 million soccer stadium for the Indy Eleven.
Lawmakers poised for final approval of bill to fund Pacers deal, soccer stadium
State lawmakers are done making changes to legislation that would provide millions in additional revenue to the Capital Improvement Board, help keep the Indiana Pacers in Indianapolis for the next 25 years and potentially support a permanent soccer stadium for the Indy Eleven.
Legislation provides CIB badly needed cash infusion
Legislation that will help fund a renovation of Bankers Life Fieldhouse will do much more: It will bail out the Capital Improvement Board, which is headed for insolvency without the additional revenue.
Quick take: Six things to know about the proposed Pacers deal
Here’s a breakdown of the 158-page agreement that the CIB was considering Friday morning.
UPDATE: CIB approves Pacers deal to fund $360M renovation, expansion of Bankers Life Fieldhouse
The agreement between city officials and the NBA team provides nearly $800 million in tax revenue to the Pacers over the life of the 25-year deal.
CIB poised to vote on Pacers retention deal during Friday meeting
A major deal to keep the Pacers in Indianapolis for decades is expected to be voted on Friday during a meeting of the Capital Improvement Board.
Downtown hotel coalition launches ad campaign against CIB funding bill
A coalition opposed to the development of two downtown convention hotels plans to launch a “significant” multimedia advertising campaign Thursday with hopes of swaying the public—and lawmakers—on the issue.
Pacers, CIB talks could extend beyond legislative deadline
The president of the Capital Improvement Board said negotiations on a 25-year deal with the Indiana Pacers are progressing, but a final pact is likely months away.