Comments on Advance Indiana™: As An After Thought, How Will We Pay For Simon's $33.5 Million Gift From Taxpayers?

There was a very interesting segment on NPR this a...

2010-07-13T20:06:39.107-05:00

There was a very interesting segment on NPR this afternoon about concert promoters and facilities. Apparently it's really hard to make a profit on ticket sales, so some savvy promoters have been building the venues/stadiums/auditoriums themselves, so when they own the facility they make money on concessions, etc., which are more profitable than ticket sales.

Looks like some have figured out how to do it without even owning the facility.

Boggles my mind: popcorn, beer and soda are more profitable than the concert tickets, and you know how much is charged for those. Is this in any way comparable to sports event tickets?

She runs the Mapleton-Fall Creek CDC which gets gr...

2010-07-13T18:21:29.005-05:00

She runs the Mapleton-Fall Creek CDC which gets grants from HUD for redevelopment work.

What would that be? Her positing in IDEC?

2010-07-13T17:19:02.806-05:00

What would that be? Her positing in IDEC?

Well Jacquie Nytes is going to have to fight off a...

2010-07-13T16:51:00.885-05:00

Well Jacquie Nytes is going to have to fight off a Little Hatch Act challenge if she thinks she's going to run for re-election to the council. I'll be damned if she gets to administer an agency that is spending millions of federal tax dollars and participating in partisan elections at the same time.

Yes, Jon, Ted Bulthaup pointed out that fact in on...

2010-07-13T16:48:46.359-05:00

Yes, Jon, Ted Bulthaup pointed out that fact in one of his paid ads in the Star and IBJ. The IBJ also had a separate story on it. I believe the Simons have been able to pocket millions because the CIB let them off the hook for that payment. The CIB has also paid for several million dollars in improvements to Conseco since the start of the lease that the Simons were actually obligated to pay.

AI, see the bridge agreement with respect to the p...

2010-07-13T15:34:20.821-05:00

AI, see the bridge agreement with respect to the parking fee, the Pacers never paid for parking and what financial offsets? I briefly scanned the parking agreement but did not see any language about offsets.

Jon, It is treated as a loan to the Pacers and doe...

2010-07-13T15:22:28.506-05:00

Jon, It is treated as a loan to the Pacers and does not count towards their defined "Net Cash Flow." Presumably, the Pacers will continue to pay the operating expenses out of these "loan proceeds" that will be forgiven if the Pacers don't sell the team and relocate it. God forbid they allow the public to find out that they really weren't as high as they claimed.

Isn't it wonderful how the CIB, the Star and o...

2010-07-13T15:03:25.140-05:00

Isn't it wonderful how the CIB, the Star and others just ignored the parking agreement clause. May I have a parking garage for one dollar a year? By the way, why doesn't the CIB go after the Simons for parking rent the last ten years?

The wonderful CIB, the gift that just keeps on giving.

AI, The documents are all on the CIB website, inc...

2010-07-13T14:30:25.515-05:00

AI,

The documents are all on the CIB website, including the amendment.

http://www.capitalimprovementboard.org

Good question, Jon. That really hasn't been sp...

2010-07-13T09:56:55.095-05:00

Good question, Jon. That really hasn't been spelled out. We'll have to see the language of the lease amendment when the CIB meets later this week to vote on it.

Someone else mentioned this; is it 10 million per ...

2010-07-13T09:15:58.044-05:00

Someone else mentioned this; is it 10 million per year to the Pacers and they pay the maintenance or is it ten million per year and the CIB pays the maintenance?