CIB finances faring better than expected
The Capital Improvement Board, through the first nine months of the year, was running $12.3 million ahead of budget, by posting $6.5 million more revenue than planned while cutting $5.8 million in expenses.
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Lucas Oil banner promoting Super Bowl coming down
Sprawling sign draped on the south side of the stadium is causing structural damage to the windows from which it hangs.
Big Ten likely to move football championship from Indy
Commissioner Jim Delany said it’s likely other cities in Big Ten states will host the game after first championship in 2011.
Indy Super Bowl organizers moving ahead with plans
Local organizers expect the 2012 Super Bowl to be played as scheduled, despite growing concerns that an NFL work stoppage could force postponement or cancellation of the game.
Super Bowl crew hustles to prep for 2012 event in Indianapolis
CEO Allison Melangton deliberately hired only Indiana residents to tap a deep talent pool and play up Hoosier hospitality.
Conseco Fieldhouse to get new video signage
The new “video ribbon,” which could cost up to $1.6 million, will be paid for with funds from the Capital Improvement Board. It will be installed around the entire upper fascia of the arena between the second and third levels.
CIB approves 2011 budget
Including debt obligations, the CIB’s total budget for 2011 is expected to be $104.4 million. The City-County Council is set
to receive the budget at its Sept. 20 meeting and could approve it Oct. 25.
CIB’s 2011 budget slated to grow by $10 million
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.
Indianapolis making contingency plan for Super Bowl
NFL officials and the Indianapolis Super Bowl Host Committee have a contingency plan if a work stoppage postpones the 2012
Super Bowl.
CIB approves $33.5 million deal to keep Indiana Pacers
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.
CIB saves $1M after state agrees to lower loan rate
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.
City makes $33.5M deal to keep Indiana Pacers
The city will contribute $10 million annually for three years toward Conseco Fieldhouse operating expenses. It also will provide
at least $3.5 million for capital improvements.
Baseball complex could bring area near coke plant back to life
A plan to build a 28-acre sports complex on the southeast side is sparking hopes that a polluted parcel across the street
that formerly housed a Citizens coke plant can be revived as a retail and industrial center.
Super Bowl Host Committee beefs up its staff
Three of the six additions are executives on loan from the Indiana Sports Corp. and the Indianapolis Convention & Visitors
Association.
CIB audit shows agency finances improving
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.
Risk inherent with bid to bring World Cup to Indy
But promoters of effort to bring global soccer competition here in 2018 or 2022 aren’t concerned about repeat of financial
failures of World Basketball Championships.
City eyes Central State site for sports complex
Indianapolis officials are exploring turning the former Central State Hospital into a 150-acre sports complex that could include
facilities for everything from soccer and baseball to tennis and ice skating.
Colts ponder effects of possible NFL season expansion
Indianapolis Colts officials have not taken an official position on expanding the NFL regular season from 16 to 18 games,
but they don’t
think it would boost revenue significantly.
CIB, Pacers discussing three-year deal
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.
World Skating Academy gets reprieve, remains on thin ice
A fixture in downtown Indianapolis since 1987, the Academy hasn’t yet been evicted from its Pan American Plaza ice rinks,
but it operates under a cloud of uncertainty.