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I mean the Pacers are hardly entertaining… gotta make $ some way
You obviously haven’t watched them in awhile to know your comment is ridiculous. They have a young exciting team
They live off the fat of taxpayer money. Of course they’ll seek yet another handout.
“Fuson said he wasn’t sure if PSE would seek city-backed incentives for the project or if they were available.”
It’s well past time for a good hard look at how much money we throw away on the Pacers and the Colts.
Pat A. – While you’re at it, take a good hard look at how much money these venues bring to the city. Compared to our “peer” cities (Kansas City, Milwaukee, Columbus, Cincinnati, Louisville, et al) Indianapolis is a growing city with a vibrant downtown and hospitality industry that employees thousands of people and generates huge amounts of revenue.
The bottom line are increases in sales taxes, income taxes, and property taxes. Take away the Pacer and Colt, and the facilities they play in, and you can kiss big concerts and large conventions goodbye. Then, just sit back and watch our city die a slow death.
Oh, by the way, if you bought your house with borrowed money, I’ll bet you took the mortgage interest deduction on your taxes. That was a handout to you from the rest of us.
Brent, while you’re at it – take a look at the costs associated with each and every event. Even stand alone from the prolonged stand alone costs associated with the construction financing. There’s a reason revenue generation studies consistently exclude that element.
Brent B., sales and income taxes generated within the downtown PSDA, which was recently expanded significantly to include additional hotels and restaurants for the Fieldhouse upgrades, don’t go to the City or State. Taxes within the PSDA are diverted and fund the Fieldhouse, LOS and the Convention Center.
There are certainly benefits to diverting these taxes to pay for the stadiums used (and controlled) by the Colts and Pacers. For example, the B10 tournaments may not come to Indy w/o the Fieldhouse remaining a state of the art arena. The HS championships in Indy are terrific. But what about the other 11 months of they year? How often is LOS used and does that justify the $750 million price tag? Are the primarily low-wage jobs of the hospitality industry worth subsidizing? Citizens and taxpayers deserve to know the facts of the funding mechanisms.
Also, there are many cities and downtowns thriving w/o major sports teams.
Comparing the tax deduction for interest in a residential mortgage to the nonstop corporate welfare the Pacers take in, is by far the dumbest thing I will read today
Amen!
Mike M. – You are mistaken to claim that all sales and income taxes from the downtown businesses do not go to the end up in the state’s financial coffers. The PSDA is a state-authorized area that captures sales and income taxes only from downtown hotel and the sports venues. Sales taxes collected by stand-alone restaurants and bars (i.e., those not inside a hotel or sports venue) go to the state and some of that comes back to the city. Income taxes paid by many of the 142,000 residents of Center Township who live downtown also go directly to the state, and some of those revenues are returned to the city. If the PSDA did not exist, all taxes – sales and income – would go directly to the state, with only some of it returning to the city. Lastly, I have been to many peer cities (even have lived in a few of them) and have seen their downtowns roll up the sidewalks at 6pm and turn off their lights. Evenings and weekends they are ghost towns mostly occupied by the pigeons and little else.
Ah yes Loyal Subjects, continue to bicker and argue about which taxes go where and who gets too many tax breaks instead of questioning why businesses and individuals are being taxed so much in the first place.. #GotYouRightWhereTheyWantYou
This privately funded project looks very nice and it complements the taxpayer funded improvements to the Fieldhouse.
One suggestion is that they add another floor and incorporate the Skywalk between the parking garage and the Fieldhouse to connect all three structures.
If the Pacers lips are moving, they’re talking about getting their hands in the taxpayers pocket.
Add floors of 24 hr bars/clubs and spiff it up and it’s a Start!! It’s 2022 the world is coming to play in it anyway!!!! Do it right!!!!
It’s always nice to infill parking lots downtown. There are several more strategic sites that need new development.
And of course, the taxpayers will be saddled with paying for this project, as well as the ongoing maintenance of it.
Once again, Simon says, “screw the taxpayers!”
Lol Every single time a major development happens, you get the same lame complaints of tax payers money being used to fund these projects.Did some of you not read that the Simons and Lilly pumped in millions of their own money respectfully? Listen folks, every major city Indy size or larger is ran like a Fortune 500 company.Yes its a place to live, work, play and raise a family but its also a money making machine. If your city isn’t developing and attracting new companies and providing a good jobs, schools, and entertainment, then you’ll have a dying city like Gary Indiana and other struggling metro’s
People from Indy always complain theres nothing to do here but when they do build things to do here, people complain about tax dollars. The other crazy thing is, folks complain about Indy but go vacation to do things in another city and believe its so much better to do the something’s in another city you could do here.
Who wouldn’t leap to “pump in” $65 million of their own money if it meant getting ~$300 million dollars more of government money for their project, if you were fortunate enough to have $65 million?
It always interesting to see the “Boo Birds” and Nay Sayers open up. If you don’t like living in Indy, go somewhere else. Compared to other cities, Indianapolis still is growing and is a relatively nice place to be. That is why people are paying top dollar to live closer to downtown. As with anything, you are either growing and living or you are DYING!