The Capital Improvement Board saw revenue of $22.5 million in the first three months of the year, a jump of 28 percent compared with the same three months in 2010. More taxes generated by hotel stays and restaurant visits helped drive the increase.
The Indianapolis Colts and its stadium manager, the Capital Improvement Board of Marion County, are squabbling over who pays certain concession expenses. The dispute ultimately could reach arbitration, if an agreement is not reached.
The Capital Improvement Board voted Monday to retain the services of three firms that currently provide security at Lucas Oil Stadium and the Indiana Convention Center, at an annual savings of $300,000.
Legislation that would allow Hoosiers with gun permits to carry their weapons into municipal properties could affect Lucas Oil Stadium and the Indiana Convention Center.
Affiliated Computer Services, which struck a deal late last year to manage the city’s parking meters, will begin replacing meters in downtown Indianapolis and Broad Ripple early next month.
The Capital Improvement Board will consider a bid for up to $900,000 to pave a gravel parking lot on the former site of Market Square Arena once slated for redevelopment.
More than two years after it opened, some construction problems persist at Lucas Oil Stadium, particularly with outside lighting and with some of the plumbing. The work was performed by contractors that are now defunct.
Request for proposals calls for providing 24-hour security at both Lucas Oil Stadium and the Indiana Convention Center, as well as providing armed guards for special events. The CIB plans to award contracts in mid-March.
The Indiana Pacers will stay put in Conseco Fieldhouse at least through 2012, thanks to a three-year deal approved July 16 by the city’s Capital Improvement Board.
Capital Improvement Board plans to spend about $2.6 million to replace 370,000 square feet of carpeting in the older portion of the Indiana Convention Center to match the carpet in the new addition.
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.
The CIB’s $73.1 million budget, which included a $10 million payment to the Pacers for the operation of Conseco Fieldhouse, passed by a 15-14 vote.
The Capital Improvement Board’s controversial spending plan will face its final trial Monday night as the City-County Council takes up the city’s $1.1 billion budget for next year.
Some City-County Council members are skeptical of the Capital Improvement Board’s spending plan for 2011 that includes $10 million for the privately operated Indiana Pacers.
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.
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.
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.
