As Lucas Oil Stadium nears 10th year, new director rolls out ambitious agenda
Eric Neuburger, hired in April to run Lucas Oil Stadium, hopes to draw more conventions and other non-sports events to the $720 million venue.
Capital Improvement Board
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CIB ordered to give deposition in IRS-Simon lawsuit over Pacers deal
CIB attorneys had sought to block the IRS from deposing former presidents Pat Early, Bob Grand and Ann Lathrop in a legal dispute stemming from a 2009 deal that transferred full ownership of the Indiana Pacers to Herb Simon.
Former CIB chiefs try to avoid entanglement in legal fight involving Pacers
Three former presidents of the city’s Capital Improvement Board—Pat Early, Bob Grand and Ann Lathrop—are fighting an effort by attorneys for the IRS to depose them about what they learned about the Indiana Pacers' finances during discussions with the team.
Capital Improvement Board passes budget with hefty deficit
CIB Executive Director Barney Levengood implored the board not to be overly concerned about the projected $46 million shortfall. The City-County Council is set consider the budget at its Sept. 25 meeting.
New report exposes Indy convention soft spots
The annual report of the city’s Capital Improvement Board shows the number of events at the Indiana Convention Center and Lucas Oil Stadium—and the total attendance for those events—fell sharply from 2014 to 2015.
CIB approves $1.63M for Bankers Life, Lucas Oil
Melina Kennedy had a busy first day as president of the Capital Improvement Board but says she hasn’t been approached by Mayor Joe Hogsett or City-County Council members about shaking up the board’s finances—yet.
Hogsett replaces 5 of 6 Ballard appointees on CIB
Mayor Joe Hogsett has put his own stamp on the board that owns most of the city’s major sports facilities and oversees its relationship with pro teams.
CIB signs pact for $50 million Pacers practice facility
The five-story, 130,000-square-foot St. Vincent Center will be built downtown across the street from Bankers Life Fieldhouse.
Pacers go into new season with revenue streams headed in right direction
Sales of season tickets, merchandise and sponsorships are all up. Attendance is expected to match—or even exceed—the 2013-2014 season. And the stadium deal the Pacers struck with the city’s Capital Improvement Board last year has freed the franchise to make investments it hopes will pay dividends long term.
Pacers receive CIB approval for $50M practice facility
The five-story practice facility across the street from Bankers Life Fieldhouse would contain a gymnasium and offices for basketball operations and Pacers Sports & Entertainment.
Q&A: Departing CIB prez looks back on crisis
Ann Lathrop explains why she’s stepping away from the city’s Capital Improvement Board after helping pilot its recovery and cutting a deal to heavily subsidize the Indiana Pacers’ operation of Bankers Life Fieldhouse.
CIB closes business with state over facilities
The punch list is nearly complete on Lucas Oil Stadium and the expansion of the Indiana Convention Center, six and four years after their respective openings.
Lean years loom for Capital Improvement Board
The Capital Improvement Board is headed for lean years, but it’s not for a lack of resources. The entity that oversees downtown convention and sports venues faces payment of two big debts.
CIB to provide $5M for natatorium maintenance
The Capital Improvement Board of Managers of Marion County voted Monday to give the Indiana Sports Corp. $500,000 a year for the next 10 years to create a reserve fund for maintenance on the IU Natatorium at IUPUI.
Herb Simon: $160M Pacer deal helps heirs
Herb Simon, 79, says the $160 million deal the city struck with the Indiana Pacers this month for operating costs and stadium improvements is an outgrowth of negotiations that began way back in 2007.
CIB OKs Pacers subsidy after promise of no additional taxes
The city’s Capital Improvement Board on Monday afternoon unanimously approved a $160 million, 10-year finance package to the Indiana Pacers for the operations of Bankers Life Fieldhouse.
CIB chief: $160M Pacers deal won’t require tax hike
CIB President Ann Lathrop said Friday that debt refinancings at low interest rates have freed up money to fund capital projects at the 14-year-old Bankers Life Fieldhouse.
Stephen Simon surfaces as Pacers’ heir apparent
Stephen Simon has been increasingly involved with the team since his father, Herb, acquired full ownership of the franchise before the death of Herb’s brother Melvin in 2009.
UPDATE: City reaches $160M deal with Pacers
The city's Capital Improvement Board will spend $160 million over 10 years on subsidy payments and stadium improvements for the Indiana Pacers in exchange for a lease extension through the 2023-2024 season.
Mayor pushing plan to use city funds to upgrade Natatorium
Mayor Greg Ballard is proposing to pay about half of the $20 million needed to upgrade the Natatorium at IUPUI. The city's Capital Improvement Board is also considering setting aside tax revenue for operation expenses.