From the Indianapolis Business Journal:
City officials confirmed Wednesday that Mayor Greg Ballard's staff is backing a plan for the city to pay about half of the $17 million to $20 million in renovations needed at the Indiana University Natatorium at IUPUI.
The city’s Capital Improvement Board is also contemplating setting aside $500,000 annually in local hospitality tax revenue for the ongoing maintenance of the facility, officials said.
As IBJ reported Oct. 19, IU officials have been seeking financial help for the renovations, and have considered turning over day-to-day operations of the venue to a third party. In recent months, they have been in discussions with Ballard and officials from the Indiana Sports Corp., the CIB, and the National Institute for Fitness and Sport.
IU owns the facility on the west side of downtown. Administrators are working on a plan to come up with the rest of the money needed for the 31-year-old aquatics venue.
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http://www.ibj.com/mayor-pushing-plan-to-use-city-funds-to-upgrade-natatorium/PARAMS/article/44831
