Gary Welsh over at Advance Indiana does an excellent job of breaking down the dishonesty in this latest CIB proposal.
What I would single out as reprehensible is this:
That bears repeating. The CIB cannot or will not (I would think either is bad) tell the public whether the Simons paid the agreed to $57 million dolars for the construction of Conseco Fieldhouse for the Pacers.
Mall investors were one of many funding sources for the 18,345-seat Fieldhouse. Under a plan negotiated by then-Mayor Stephen Goldsmith in the mid-1990s, other sources included $50 million from a special “sports tax zone,” $10 million each from Eli Lilly and Co. and the General Assembly, and $57 million from the Pacers, which are owned by the founders of Simon Property Group.
CIB officials could not say whether the Pacers have made good on their promised contribution, which carried some conditions based on team revenue. The team did get to keep the $40 million Conseco paid for naming rights.
Again, the CIB is not telling people whether the Simons kept their part of the bargain in kicking in $57 million for Conseco. It should be noted that the President of the CIB, Bob Grand, represent the Simons who own the Pacers.
Yet, the CIB and the administration wants to give the Pacers $15 million more, possibly from the taxpayers. Before the CIB makes that decision, the CIB might to come clean on whether the Pacers paid the $57 million they owed. Oh, and the CIB might also demand for an independent audit of the Pacers rather simply take the organization's word that the team is losing money.