Swamped by financial losses that go back to the time Herb and Mel Simon bought the Indiana Pacers in 1983, team officials
are now looking for a new game plan—one that may involve financial assistance from taxpayers and visitors.
The Capital Improvement Board’s $43 million in debts must be settled soon, or the entity may not be able to survive.
Jim, you could engender so much good will if you would step forward and provide some short-term relief by paying more toward the operating costs of Lucas Oil Stadium.
State lawmakers formed the Capital Improvement Board in 1965 to oversee construction of the city’s convention center.
Creativity and transparency are required to fix the Capital Improvement Board’s financial woes.
Cleaning crews are wiping construction dust from the 63,000 seats in Lucas Oil Stadium, prepping for the public’s first peek at the $720 million venue Aug. 16. But the hard work is only beginning for the city’s Capital Improvement Board, the entity charged with operating the stadium. The fumbling point: CIB is anticipating a $20 million operating deficit for Lucas Oil Stadium in 2009.
Fred Glass, president of the city's Capital Improvement Board, headed historic transitions in both the mayor’s and governor’s
offices and has become the go-to guy for some of the city’s biggest initiatives, most of them sports-related.
