Governor Mitch Daniels and Indianapolis Mayor Greg Ballard proposed a plan today to resovle the $47 million dollar deficit facing the Capital Improvement Board in Indy.
The CIB plan actually dissolves the CIB by merging it with Marion County Building Authority to form the Facilities Management Board of Marion County, saving operations costs to the tune of $27 million. To close the $47 million dollar gap, an additional $20 million will be raised by increasing hotel, rental car and admission taxes.
The Pacers and Colts aren't required to contribute any additional money, although the Pacers will end up contributing plenty. Considering the 4% proposed increase in the admissions tax and the fact that the Pacers can't raise ticket prices to cover the increase (and in fact, will probably have to lower prices at some point), that money will come straight from the Fieldhouse.