1/26/2005
Media Contact:
Steve Campbell, [317] 327-3622
Jo Lynn Garing, [317] 327-3690 |
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Mayor to testify on bills that funds venue for NCAA basketball, Colts & conventions without tax increase
INDIANAPOLIS - Mayor Bart Peterson will testify before an Indiana House of Representatives committee on legislation that would fund a new multi-purpose venue for NCAA Basketball, the Indianapolis Colts and major conventions and trade shows.
Peterson proposed a funding package for the venue that does not raise property, sales or income taxes and does not ask for state money. Instead, he proposed using proceeds from pull- tab/slot machines for the new venue and a new agreement with the Colts.
House Bill 1569, authored by Rep. Luke Messer of Shelbyville, and HB 1702, authored by Rep. Mike Murphy of Indianapolis, will be discussed today before the House Public Policy & Veteran Affairs Committee. Both bills contemplate using funding from slot machines to fund the new venue.
So far, these are the only proposals introduced before the legislature to fund the project.
WHEN: TODAY - Wednesday, January 26; Approximately 3:30p.m.
WHERE: Indiana Statehouse, House of Representatives Chamber
Without a new venue:
• Expansion of the Indiana Convention Center is virtually impossible, costing the city millions of dollars worth of convention business.
• Many amenities - such as the Circle Center Mall, restaurants, hotels, museums and other attraction - that are enjoyed year-round by Hoosiers across the city and state would suffer.
• The Colts will be free to leave Indiana penalty free within eight years, making it virtually impossible to ever get an NFL team back.
• Indiana loses the chance to realize $2.25 billion in economic benefit and 4,200 permanent jobs and 4,900 construction jobs over the next 10 years.
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