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.
NFL officials and the Indianapolis Super Bowl Host Committee have a contingency plan if a work stoppage postpones the 2012
Super Bowl.
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.
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.
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.
Three of the six additions are executives on loan from the Indiana Sports Corp. and the Indianapolis Convention & Visitors
Association.
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.
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.
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.
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.
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.
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.
The NFL’s Super Bowl point man tours legacy project, University of Indianapolis and Lucas Oil Stadium to make sure city is
on track for 2012 event.
City will host the Division I, II or III men’s and women’s swimming and diving championships every year between 2012 and 2017
under a new deal.
Sources close to the university said they expect a combination of parking facilities and a multi-use athletics venue and convocation
center to be built on the site.
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.
