CIB Task Force explores funding plan

INDIANAPOLIS, Ind. (WXIN) - A task force charged with finding long term solutions to the funding problems of the Capital Improvement Board indicated at its first meeting that finding new revenue streams and convincing surrounding counties and the state of Indiana to pitch in financially are key to keeping the CIB afloat in Indianapolis.

The CIB operates Lucas Oil Stadium, Conseco Fieldhouse and the Indiana Convention Center. A funding crisis forced the CIB to tackle at least $40 million in debt and secure legislative approval to borrow $27 million from the state to keep operating its facilities. The task force of city county councilors and a representative of Mayor Greg Ballard is searching for non-binding suggestions for the council, mayor and state lawmakers.

"Why shouldn't we all be in that together?" asked councilor Jackie Nytes, noting that regional and statewide support for the Indianapolis facilities may be a hard sell. "Folks in other counties aren't used to paying for something but love coming down and using it. They're going to struggle."


One convention contractor told the task force that the convention center often, "leaves money on the table," but doesn't tack on charges that are standard throughout the national convention industry.

"The only thing that the convention center is making money on from an event standpoint is space and food," said George Seachrist of BMG Events & Promotions who told the task force that he is often ignored by current convention center management when he suggests it charge conventioneers more for labor, media equipment or signage.

Councilors said all options are on the table and a fresh approach may be forthcoming when the CIB is re-constituted in mid-January 2010.