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$1.1M In CIB Cuts Move Forward
Full Board To Vote On Cuts Next Week
POSTED: 6:33 pm EDT April 9, 2009
UPDATED: 6:51 pm EDT April 9, 2009
INDIANAPOLIS -- Additional cuts by the financially troubled Indianapolis Capital Improvement board made progress Thursday.The board's finance committee approved $1.1 million in cuts, which would include deferring all maintenance and repairs at Lucas Oil Stadium, Conseco Fieldhouse, Victory Field and the Indiana Convention Center that aren't safety related, 6News' Norman Cox reported.Another $100,000 would be saved by requiring all CIB salaried employees to take six unpaid furlough days in the next three months.
"I can tell you it's not going to be fun. But, hey, we'll get it done," said CIB Executive Director Barney Levengood.The cuts, if approved by the full board next week, will bring total spending reductions by the CIB to almost $9 million, which is just short of the $10 million target set by lawmakers."These cuts are not sustainable for forever. But we believe that given the significant challenges that we're at today, that we will go ahead and cut another million dollars in this fiscal year," said CIB Finance Chairwoman Ann Lathrop.The finance committee will also consider negotiating with unionized, hourly employees to take unpaid days off, raising parking rates at CIB parking lots on non-Colts game days and closing the Virginia Avenue parking garage at 6 p.m. on non-Pacers game nights.Meanwhile, minority Senate Democrats said Thursday that they would try to amend the Republican-crafted CIB bailout bill to remove all of the tax increases.The bill as written would double the wholesale tax on beer, wine and spirits, raise local hotel and motel taxes from 9 to 10 percent, boost the food and beverage tax a quarter of a percent and increase the tax on stadium and Conseco Fieldhouse tickets from 6 to 10 percent.Democrats also want to force Mayor Greg Ballard to divert money from the public safety income tax, which they claim isn't going to public safety anyway."There is also in this budget a little over $11 million for hiring 100 police officers for the streets of Indianapolis, and Mayor Ballard has chosen not to hire any new police officers," said Minority Leader Sen. Vi Simpson.The bill also assumes $5 million a year each in contributions from the Colts and Indiana Pacers, but the Colts have not committed to providing anything, saying the team will discuss what it might consider contributing.The CIB estimates a total of $26 million in operating costs -- $10 million for salaries of stadium workers, $5 million for utilities, $5 million to the Colts and $6 million for other services, such as game-day setup.
Previous Stories:
- April 8, 2009: Dems Call Out Ballard On CIB Crisis
- April 3, 2009: CIB President: Stadium Could Close If Deal Isn't Reached
- April 3, 2009: Colts Fans, Foes Weigh In On CIB Bailout Plan
- April 3, 2009: Panel OKs CIB Bailout; Colts Refuse To Commit Cash
- April 2, 2009: Plan Would Boost Alcohol, Food Tax To Fund CIB Bailout
- April 1, 2009: Alcohol Tax Could Double To Fund CIB Bailout
- March 27, 2009: High Cost Of Stadium May Force Football Finals To Move
- March 26, 2009: Lawmakers Look For Cash To Bailout CIB
- March 10, 2009: Bird Hopeful Pacers, City Will Find Funds To Keep Team
- March 10, 2009: CIB Makes Cuts, Looks For Way To Keep Pacers
- March 6, 2009: CIB Wants Tax Increase To Cover Stadium Funding Shortfall
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