CIB of Marion County Meeting – October 10, 2025: Farewell to Board Members, Financial Reports, and Contract Approvals
Capital Improvement Board of Marion County Meeting – October 10, 2025
The Capital Improvement Board (CIB) of Marion County held its regular meeting on October 10, 2025. The meeting began with a farewell to outgoing board members Earl Good and Sarah Fisher (absent), and the welcome of new members Bruce Donaldson and Bob Quins. The board unanimously adopted a resolution honoring Earl Good for his two-term service. Routine approvals included minutes from September 12, 2025. The board received detailed financial, operational, and construction reports, and approved several contracts, disposal of obsolete equipment, and claims.
Key Reports
- Financial Report (August 2025): Revenues net of expenses totaled $7 million, approximately $9 million over budget. Tax revenues were $14 million ($1.5 million over budget), and operating revenues were $6 million ($2 million over budget). Year-to-date tax revenues are 12% ($12 million) over budget; operating revenues are 26% ($9 million) over budget. Capital outlays were $1.6 million, $4.7 million under budget, with major spending on Virginia Avenue garage concrete repairs ($900,000), EV/security projects ($287,000), and roof replacement ($239,000). Staff noted the budget is conservatively planned to handle unexpected costs.
- Visit Indy Report (August 2025): Hotel revenue increased 2.1% year-over-year for the month; downtown revenue rose 5.9%. Year-to-date revenue is down 2.9% compared to the record-setting 2024. Year-to-date performance is at 77% of target, but sales staff anticipate reaching 100% by end of November due to a strong pipeline. Lead numbers are at 138% of target and 155% of historical average, driven by the convention center expansion and the Signia Hotel. The American Academy of Otolaryngology (5,500 attendees) begins their convention October 11, a major medical group won after a 13-year pursuit.
- Convention Center Report (September 2025): Occupancy was 54.8% with 29,173 attendees, both slightly higher than September 2024. Events included Do It Best, REMA, and others. Upcoming events include EMS World Expo (4,000 attendees) and FFA (70,000 attendees in November).
- Lucas Oil Stadium Report: Two Colts home games were played; the stadium ranked #1 in the NFL fan experience survey. Other events included the Circle City Classic, Motorola summit, and youth football. Upcoming: Ed Sheeran concert (October 26) and other major shows in 2026. Band season includes Bands of America and state marching band competitions.
- Sustainability Update: Initiatives include a green team, herb garden, water bottle refilling stations, composting (5,200 pounds pre-consumer food over summer), digital signage to reduce single-use signage, and donations of seven tractor-trailer loads of food and supplies to local charities. The NCAA Final Four has formed a sustainability committee.
- Construction Update: The Signia by Hilton and 50,000-square-foot ballroom project is ahead of schedule. Substantial completion expected September 2026; Hilton targets opening November 11, 2026, possibly earlier with early ballroom turnover. Georgia Street transformation into an event space (west block) may omit a planned canopy due to utility conflicts; completion by March 2026 for Final Four.
Consent Calendar
- Approval of Minutes: Minutes from the September 12, 2025 meeting were approved unanimously (voice vote with call of roll).
Contracts and Approvals
- New Era Agreement for Services (5-year term): Annual payment of $119,700.51, totaling $598,502.55 for maintenance of IP TV, phone support, security updates, and firmware/software upgrades. Approved unanimously.
- Wi-Fi Renewal (Lucas Oil Stadium): Annual renewal for Wi-Fi maintenance and service at $266,262. Approved unanimously.
- Disposal of Obsolete Equipment: Authority to auction 18 broken bike rack panels and 104 obsolete light fixtures. Approved unanimously.
- Claims (Operating and Confirming): Operating voucher: $2,016,351.30 for regular expenditures. Confirming voucher: $11,491,238.73, which includes BNY debt service ($2.9 million), NCAA regional settlement ($2.2 million), utilities ($951,000), Gen Con admissions taxes, security, roof repairs, digital signage, public art for the hotel, and downtown Indy enhanced economic development payment. Both approved unanimously.
Farewell Resolution
- A resolution honoring Earl Good’s service from June 2019 to October 2025 was read and adopted unanimously. Good served during major projects including the convention center expansion, Victory Field renovations, and Gamble Field House renovation. Board members expressed gratitude for his leadership and contributions.
Other Business
- Welcome to new board members Bruce Donaldson and Bob Quins.
- Sarah Fisher was absent; a future tribute is planned.
- Meeting adjourned.
Meeting Transcript
Good morning, everyone. I'd like to welcome you all to the Rio Capital Service for County. We have a not a typical day today. Today we're saying farewell to Earl Good and Sarah Fisher. I think Sarah is traveling, and we welcome two new board members. And I'll turn it over to Andy to be honest. Yeah, first we'd like to welcome Bob Donaldson or uh Bruce Donaldson, not Bob, Bruce Donaldson and Bob Quins. I screwed up Sarah's name way worse. I think he forgot Sarah's name in the middle of the meeting with her nameplay. And I'm staring straight out of her. So that's not bad, Bruce. But thank you for uh joining us. We're we're glad to have you. Hope um we can um make your uh make your uh service, you know, everything you could imagine it could be so um but we do say farewell to um two board members um and one of them's here, Earl, and um I guess I don't get to make a motion, but I'm gonna read a resolution and maybe somebody will move in second to pass the resolution. Um resolution of the Capitol Board, a capital improvement board of managers in Marion County, whereas Indiana Code 36109 empowers the CIB to, among other purposes, finance owned construct, operate, maintain capital improvements under the CIB Act to do all of the acts that the CIB considers necessary, appropriate to promote publicize and those capital improvements support the sports entertainment convention, visitor industry and service, commercial, industrial, and cultural interests of the state of Indiana and citizens into assist the corporate and fund governmental public and private agencies and groups for these purposes. Whereas for the CIB Act, the governor of the state of Indiana shall appoint two members of the board board of managers. Whereas Governor Holcomb appoint Governor Eric Holcomb appointed Earl Good as a board member serving two terms commencing on June 7th uh 2019 and ending on in October of 2025. Whereas Earl Good has served as an invaluable member of the board. Um whereas during Mr Good's tenure, the board hosted his facilities, numerous trade shows, events, meetings, and concerts, including the college football playoffs, the Big Ten uh football champions, U.S. Olympic swim trials, Big Ten Division One basketball championships, the NCAA Division One Men's Basketball Tournament, the WMBA All-Star Game and Related Events, the NBA All-Star Game and Related Events in the NBA Finals. B uh started and completed major renovations of Victory Field, home of the Indianapolis Indians, including renovation of the ballpark suites, construction of the home play club, and replacement of the playing field. C started and completed full-scale renovation of Gambridge Field House. B established a partnership with USA Track and Field at the State of Indiana and the state fairgrounds with the CIV, I remember. Commenced the development and construction of the sixth expansion of Indiana Convention Center, including a 50,000 square foot ballroom and accompanying 800 room convention headquarters, luxury hotel. Whereas members of the board desire to express their gratitude to Earl A. Good for his many contributions to the board and the CIB during his two-term tenure. Now, therefore, be it resolved that the board here by expresses its sincere gratitude to Earl A. Good for his excellent services as a member of the board, further resolve that the board wishes Mr. Good continued success in all his endeavors and expresses our hope for his continued health, happiness, and prosperity, and further resolve that a copy of this resolution be presented to Mr. Good as a token of our respect for him and his service. So I think it that would probably be a unanimous motion and second. Okay. We have to do a call call. We do. We do. Because Jamie's on Marcy. I David. I Nick. I David. Bob. Bruce. Jim. I Leonard. Jamie. I don't get a vote. No, you don't. You don't. I think I would vote for you. Thank you. Thank you.
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