Lawmakers Pass Bill For New Soccer Stadium

Posted: Updated:
(rendering courtesy of Indy Eleven) (rendering courtesy of Indy Eleven)
INDIANAPOLIS -

A bill that helps provide funding for a new soccer stadium in Indianapolis is heading to Governor Eric Holcomb's desk. Senate Bill 7 creates a professional sports development area, which would capture taxes to help fund the facility. The stadium would serve as the home of the Indy Eleven soccer team and is part of the proposed $550 million Eleven Park project, plans for which were first announced in January. 

The Indy Eleven released a statement following the final 44-4 vote from the Indiana Senate.

With Senate Bill 7 now headed to the Governor’s desk, we are ready to kick off a new era for Indy Eleven professional soccer and the world’s most popular sport in Indiana – with no new taxes and no appropriations from city or state governments.

This is the latest step in the legislative process. With the Governor’s signature, we can continue along the path to fully capturing this one-in-a-generation opportunity to secure the future of the world’s game in our capital city.

The new stadium would be owned by the Capital Improvement Board in Indianapolis and leased by the Indy Eleven, which would cover all operating expenses and overrun costs. The entire Eleven Park project also includes proposed apartment, retail and office space, as well as a 200-room boutique hotel, however SB 7 only provides funding for the stadium.

The bill also provides a large portion of funding for the previously-announced $300 million in upgrades to Bankers Life Fieldhouse, as well as improvements to the Indiana Convention Center. A previous version of the bill also included funding for two new hotels in downtown Indianapolis, however that provision was removed by the House Ways and Means Committee.

Indianapolis Mayor Joe Hogsett provided a statement after the Senate vote Tuesday:

I want to applaud this afternoon's concurrence on Senate Bill 7, but I also want to applaud the way this legislation was crafted -- through state-local collaboration, without a tax or fee increase, and with broad bipartisan support.

I offer my personal thanks to legislative leaders in the house and senate for their collective work to craft a bill that protects Hoosier taxpayers and preserves this key economic engine for the next generation of Indiana residents. I look forward to continued conversations with state and local leaders about how we can fully realize the Capital Improvement Board's 25-year vision for these critical assets.

The bill now awaits Governor Holcomb's signature.

  • Perspectives

    • Mitigating Your Company’s Cybersecurity Risk

      Frequently, I encounter people who think that a software developer understands all languages and can “fix” anything tech related. While that may be true for a few, areas of expertise within tech evolve as rapidly as the technology itself. For instance, there was a time (not long ago) when operating in the cloud was revolutionary. Today, it is considered best practices for some or all of an organization to function within a cloud. Managed information technology began with...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (photo courtesy Dax Norton)

      Whitestown Tops Indiana's Fastest-Growing Communities

      The Indiana Business Research Center at the Indiana University Kelley School of Business says Whitestown in Boone County is Indiana's fastest-growing community for the eighth consecutive year. The center says the town's population nearly tripled, from 3,132 in 2010 to 8,627 last year. Westfield in Hamilton County is not far behind. Its population grew 5.2 percent in 2018, according to information reported by the U.S. Census Bureau. Other communities on the list include...

    • The Waterside project aims to transform 100-acres of the former GM Stamping Plant site. (photo courtesy of Ambrose Property Group)

      Ambrose, Glick Partner on Waterside

      Indianapolis-based Ambrose Property Group has announced a key partnership for the redevelopment of the former GM Stamping Plant in downtown Indianapolis. The commercial real estate firm is teaming up with the Gene B. Glick Co. to build and manage apartments as part of the $1.4 billion mixed-use redevelopment project. Ambrose says the partnership is also part of plans to catalyze "philanthropic and community-centric strategies to strengthen Indianapolis." The firm also...

    • (photo courtesy of the town of Plainfield)

      Plainfield Breaks Ground on Parking Structure

      The first piece of a redevelopment plan for downtown Plainfield is underway. City and community leaders have broken ground on the new Downtown Plainfield Parking Structure, which is expected to be complete in the late summer or early fall of 2020.

    • Despite Profit Increase, Shoe Carnival Predicts Store Closings

      Evansville-based Shoe Carnival Inc. (Nasdaq: SCVL) is reporting fiscal first quarter net income of $13 million, up from $8.2 million during the same period last year. Despite the increase, the company says it expects to close up to 25 stores throughout the fiscal year while adding three new locations.

    • Carmel Ranked Among Best Places to Live

      Carmel has been chosen as the 3rd best place to live in the U.S. according to MONEY.  The publication only looked at cities with a population of 50,000 or greater, and eliminated any place that had more than double the national crime rate, less than 85-percent of the state's median household income, or lack of ethnic diversity.  MONEY was able to pare the list down to 50 communities after delving into data concerning economic health, public education, cost of...