Governor Signs Bill For Colts Stadium
Bill Also Provides Funds For Development Package
POSTED: 8:01 am EDT May 11, 2005
UPDATED: 1:56 pm EDT May 11, 2005
INDIANAPOLIS -- Gov. Daniels on Wednesday morning signed a bill that would finance a new stadium for the Indianapolis Colts and provides an economic development package for northwest Indiana.
Slideshow: See Proposed Stadium
Discussion: What Do You Think?
The governor signed the bill at the Gary/Chicago International Airport in Gary. The stadium project includes an expanded convention center for Indianapolis. The bill signed Wednesday allows eight counties to raise certain taxes to fund the projects. The bulk of the money would come from Marion County, which is being asked to raise its food-and-beverage, hotel and auto rental taxes.The seven counties touching Marion County are being asked to implement a 1 percent restaurant tax.It isn't certain whether the county governments will agree to the plan. The bill also creates a Northwest Indiana Regional Development Authority to develop transportation and other economic development plans for the region. The state would chip in money from Indiana Toll Road reserves, and the bill authorizes Lake and Porter counties to impose a one percent food and beverage tax to be used for development.
Slideshow: See Proposed Stadium Discussion: What Do You Think? The governor signed the bill at the Gary/Chicago International Airport in Gary. The stadium project includes an expanded convention center for Indianapolis. The bill signed Wednesday allows eight counties to raise certain taxes to fund the projects. The bulk of the money would come from Marion County, which is being asked to raise its food-and-beverage, hotel and auto rental taxes.The seven counties touching Marion County are being asked to implement a 1 percent restaurant tax.It isn't certain whether the county governments will agree to the plan. The bill also creates a Northwest Indiana Regional Development Authority to develop transportation and other economic development plans for the region. The state would chip in money from Indiana Toll Road reserves, and the bill authorizes Lake and Porter counties to impose a one percent food and beverage tax to be used for development.
Previous Stories:
- May 10, 2005: County Governments Could Be Barriers For Stadium Project
- May 1, 2005: Colts Stadium Bill Passes
- April 29, 2005: Budget, Colts Stadium Up For Vote
- April 22, 2005: Mayor: State Can Control Stadium Project
- April 8, 2005: Stadium Plan, Cigarette Tax Increase OK'd By Senate
- April 4, 2005: Senate Panel OKs Stadium Financing Plan
- April 3, 2005: Mayor Supports Restaurant Tax Idea For Stadium Funding
- March 31, 2005: Restaurant Taxes Are Part Of Governor's Stadium Plan
Copyright 2005 by TheIndyChannel.com. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
