Victory Field bonds to be paid off this summer

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The home of the Indianapolis Indians will soon be paid off.

The bonds on Victory Field will be retired in June, 20 years after it was built. The stadium, which opened in 1996, was built for $18.5 million. $10 million of that was paid with bonds.

Nothing will change in the way of operations of the stadium. The city's Capital Improvement Board will continue to oversee the property. The Indians pay the CIB a half-million dollars a year to lease the facility.

The team also pays for things like upkeep, utilities and security, while the CIB pays for major improvements, like the new HVAC system that is being installed.

Negotiations have not yet begun on renewing the Indians' lease, which expires in April 2016.