Capital Improvement Board president says initial $10 million payment to the Indiana Pacers is not only reason for the larger
budget. Rather, she insisted it’s largely due to $5 million in renovations slated for Conseco Fieldhouse and other CIB-operated
facilities.
The three-year agreement is designed to help the franchise shoulder the costs of operating Conseco Fieldhouse. One dissenting
voice called the team and city back to the negotiating table for a longer-term deal.
State officials decided to reduce the interest rate on a $9 million loan to the city's Capital Improvement Board by 1
percentage point. The news couldn't come at a better time for the agency, which is trying to find money to assist the
Indiana Pacers.
A combination of taxes targeting downtown visitors and users of the city’s professional sports complexes are expected to generate
the bulk of the subsidy.
The Capital Improvement Board earned $10 million last year after reporting a $16.8 million loss in 2008. Its financial future
is clouded, however, by talks with the Indiana Pacers over Conseco Fieldhouse operating costs.
A June 30 deadline imposed by the basketball team passed with no agreement on who will pay Conseco Fieldhouse operating expenses,
but both sides remain optimistic a deal will get
done soon.
The Indiana Pacers still are renegotiating the team's lease of Conseco Fieldhouse with a Wednesday deadline approaching.
City officials want to wait until economy, National Basketball Association labor situation stabilize before entering longer-term
deal. Optimism remains deal can get done by June 30.
Mayor Greg Ballard has put privatization of Indianapolis’ stadium and convention center management on indefinite hold.
Capital Improvement Board votes not to restore IBE’s annual $150,000 grant, but agrees to provide the organization
with in-kind services equaling the amount.
The Indiana Pacers and Indiana Fever contribute an estimated $55 million a year to the Indianapolis economy, according to
a study conducted by Chicago-based hospitality consulting firm Hunden Strategic Partners.
The report from a Chicago consulting firm will detail how much the Indiana Pacers contribute to the local economy, as the
Capital Improvement Board negotiates with team officials over paying $15 million in annual Conseco Fieldhouse operating costs.
Five years ago, the Indiana Pacers ownership was not included in discussions about a potential new downtown home for the Indianapolis
Colts, and now city and Pacers officials are paying the price.
Indiana Pacers President Larry Bird says that despite questions about the franchise's stability he's never heard team
owner Herb Simon say he would relocate the club.
The Indiana Pacers set a June 30 deadline to get a deal worked out to operate Conseco Fieldhouse. The team wants $15 million
annually.
Local not-for-profit wants annual $150,000 grant from the Capital Improvement Board restored to better market the Circle City
Classic.
Not-for-profit hopes to have $150,000 in annual funding restored, particularly now that it has taken on the additional duties
related to the Circle City Classic.
The NCAA and city put together a deal to cover insurance and liability issues for this year’s Final Four, but are still finalizing
an agreement that assures the event comes back regularly through 2039.
The Indianapolis Capital Improvement Board on Monday rejected a request from Axe deodorant to place an advertisement in Lucas
Oil Stadium because the message is too racy for youngsters.
Ann
Lathrop's interactions with the Indiana Pacers and Indianapolis Colts aren't what she might have envisioned as a young
college student pursuing a career in sports medicine. Now president of the city's Capital Improvement Board, her relations
with the teams are tied to their financial conditions rather than the health of their players.
