13 WTHR - Indianapolis News |Despite legislative approval, new stadium has "serious issues"

Despite legislative approval, new stadium has "serious issues"

Indianapolis, May 2 - The future of the Indianapolis stadium and convention center no longer hangs in suspense. With thousands in town for a national museum meeting, convention officials are celebrating Friday's vote, which paves the way for a new stadium and convention center expansion.

Bob Schultz with the Convention and Visitors Association says, "We can clearly say without any speculation we have cleared the financing hurdle, that with the commitment from the city and state, we can move forward."

But before breaking ground, first on the new stadium, a few more key things must happen, like finalizing the lease agreement with the Indianapolis Colts. One sticking point is that $3 ticket tax included in the funding package.

Capital Improvement Board President Fred Glass says, "The Colts made it clear they wouldn't sign if that tax is part of the agreement, but we believe there's enough money so that won't be necessary."

The CIB must turn over control of the project to the state by May 15 and the City-County Council must approve raising hotel, car rental, restaurant and admission taxes.

Councilman Scott Keller (R) says, "We're not raising property taxes and there's a lot of construction work and we've been very successful in the hospitality and convention business, so we're a winner all the way around."

The surrounding counties must also agree to a new one percent restaurant tax, with all new taxes approved by June 30.

Council President Steve Talley says there are are still some "serious issues" with the funding package. While he's optimistic it will pass, he says it's not a slam dunk. Look for a final vote in mid-June.