Good morning, everyone.

I'd like to call the meeting of the Capital Improvements Board of Mary County to order.

Welcome to everybody today.

First item on our agenda is approval of minutes from our November 14th meeting.

Oh, is it fable?

We have to do roll calls.

Roll call.

Marcy.

Yes.

And it's all right.

Nick.

All right, David R.

Oh, Jamie.

Sorry, Jane.

Jane.

She's not you're you're behind me, Jamie.

Burns is on here too.

Oh, the Bruce is on there too.

Yes.

Okay.

Sorry, guys.

I don't know who's going to be.

These are I both ayes.

I think you guys get a good shot on my both.

Okay.

Next item on the agenda are reports.

So the first is our CIB financial financial report.

Good morning.

Thank you.

October 2025 finished with revenues net of expenses of just under 1.6 million dollars.

That's about $3 million more than budget.

Positive variance there is due to capital outlets being down.

And also that is offset by some hotel expenses.

Digging into details, tax revenue, uh total $13 million, which is right in line with the budget.

Monthly variance there is tax revenues, they vary between line items, um, but they all pretty much offset each other by the in total.

Um for the year, tax revenues are about $13 million or 11% over budget and about six million dollars over last year.

Um so doing pretty well there.

Operating revenue uh for the month was about five million dollars, which is more than budget by about 480,000 or 11%.

Um largest favorable variance there is in labor reimbursements.

Um October we hosted the the ear nose throat group and also the EMS group, those drove that labor reimbursement line there.

Um for the year, operating revenues, um, they're doing well as well.

Um they're over budget by 11 million dollars or 26 percent.

On the expense side, personal services are character one is under budget by 215,000 or 9%.

Uh largest variance there is in the employees medical insurance line where the claims just aren't as much as we had budgeted.

Uh supply line um character two is under budget by $17,000 or about 3%.

Um other services are character three is two million dollars or 25% over budget.

Uh that unfavorable variance is mainly due to miscellaneous expense.

Um there we had some hotel expenses, um, and they were there's 1.2 million dollars we spent on ATT line relocation.

Um $775,000 for art strategies, and then $140,000 for some furniture.

Um Capital Alley or character four uh totaled just over two million dollars.

Um the budget was 4.3 or it was under budget by 4.3, sorry.

Um and the biggest dollar that we spent in October was $543,000, and that was for some concrete repair at Virginia Avenue Garage.

Um the list of what we spend is at the bottom of the spreadsheet as always.

Um debt service, um, same as the rest of the year, uh 1.4 million dollars, which is for the advertisation schedules.

Um so October finished um positive bottom line of 1.6.

It's just below the average uh for the year, um, but it's right above its budget.

Um one item that I do want to um note is next month you'll see um a large um outlet of cash.

Um it's 72 million dollars, it'll be in the other grants line item, and that is a transfer that we made to the bond bank for um the hotel construction.

If you remember earlier in the year, you guys approved the 70 million dollar uh transit for the construction of the hotel.

Um it's 72 million dollars because we moved those funds earlier in the year into a separate reserve, and it earned 1.9 million dollars in cash or interest, and so that now is a 72 million dollar transfer that we made.

So we just turned that in that whole account over to the bond bank in November.

So you'll see that next month.

Um, since it was such a large one, I wanted to comment it on, and you'll later in my transfers and encumbrances you'll see that um so I wanted to mention it now.

And that is my report.

Any questions?

Any questions?

Okay, thank you very much, and thanks for heads up about that.

All right, next on our uh agenda or transfers and encourages from the 2025 budget.

That's just part of what you talked about, right?

So uh transfers and encumbrances.

We only do it once a year, so I I want to explain it again every year.

Um so there's two separate items there's transfers and then there's also the encumbrances.

Um we're allowed to um make transfers between the categories or characters as the city calls them within the budget, and we're just transferring the appropriations there.

Um so we can do that.

Um, and then also there's the encumbrances where we move the appropriations from one year into the next based off of a project that isn't completed, it's been contracted, um, and it's included in the budget, but it's not complete, so we lose some of the appropriations to finish that project into the next year, and so that's what the encumbrances are.

Um, just to take it up a higher level only have to do with our budget and the appropriations that are part of the budget, right?

Um, because our budget goes to the city county council.

Um, we can only spend that which what's budgeted in a given year.

So when we encumber, we transfer among the characters one, two, three, and four, and five, but probably not five.

Uh among those, and then we can encumber projects that we've made or can start and contracted for in this year, so that we can then spend some of the they overlap the year, right?

So they go from January to December and they're not done.

So that way we can continue to spend the 2025 appropriations into 2026, and those um bills don't hit our 2026 new budget, right?

So we're still just spending out of the 2025 budget, but in 2026.

So we don't then have to go back and get more money from the council.

That's the whole reason for all of this.

Thank you.

Um looking at the spreadsheet, um, the first column there with the numbers.

Um, that's the appropriations that it's titled 2025 encumbrances.

So those are the encumbrances that we took from 2024 appropriations that we moved into 25.

Um the next column is the 25 budget.

The third column is the 25 estimated spending.

So that is what I am estimating that we're going to spend this year.

Um, then you have the difference column, which is the estimated remainder that will you know, take all the appropriations that we have to under 25 minus the spending.

Um, you'll see there's some positive and some negative numbers there.

So the negative numbers we need to cover with some of the positive numbers.

So that's why the reason for the transfers.

Um really that I'm requesting two transfers.

One is a transfer from the personal services or character one and two and a half million dollars.

One and a half will move down to the supplies line just to cover those uh will we overspent there, um, and then also to leave some cushion there, um, and then two two hundred and fifty thousand of that would go down to the debt service just to cover that as well.

Um that overspend was just the fees that we uh didn't budget properly there.

Uh the remainder of that would go into the um other services line, character three, and then the other is um a movement from capital outlay of sixty-one million two hundred and fifty thousand dollars into the other services or character three line there.

Um that is mainly due to that 70 million dollar transfer.

So we have budgeted that in the capital outlay line, but it's actually coming out of the other grant line, which is in the character three.

So um that's just to facilitate that, maybe we budgeted versus what we're spending in the so those are the two transfer mean or the we're requesting.

Um, and then the encumbrances, um, there's just one, and that's all in the capital outlay line of uh 30 million dollar.

I like even round numbers.

Um so the encumbrances at the bottom that it shows a delineation of every project that is there in the dollar amount.

I did round that pay and project one uh just so I could be right with that my 30 million dollars that's uh rounded down on the PANM project so to get to my 30 million, but um so that kind of shows that um all the dollar amounts of every project that are still hanging out there.

So open to any questions anybody has on any of that information.

Comment on or kind of question?

So the transfers that you just described, those are standard accounting principles.

You've been this is how we've always done these address these kind of matters and it's never come up as a question on audience at least for the three years I've been on the board.

No, not at all.

Yeah, it's it's normal for CPFs.

Any questions?

Okay, thank you very much.

Appreciate the polling this detail out for the next report.

Well, I think we need a motion to approve for both of them.

Okay.

The chair would entertain a motion to Marcy.

All right.

David Cye.

All right, David R.

Jim.

Hi.

Jamie.

Oh, so thumbs up.

Bruce.

Rector refined.

Bruce.

Thank you.

Okay.

Now we're on to the next budget item, which is not budget item, agenda right there.

Which is visiting the report.

Okay, thank you, Madam President.

We start with the October Hotel Report.

There is one graphic mistake on this document.

Somehow the green boxes for records for October got transposed into the non-downtown American County.

The records are in downtown.

So it would make any sense to have green boxes when it shows red next to them.

So the it was a great October driven by a very uh strong FFA.

We also have the overwater dollars as Tim mentioned and some other uh great groups, but downtown um Marion County set records for rooms sold uh for the total revenue uh in a month for hotel revenue uh and for uh revenue prevailable room rep bar.

Downtown sold records for room sold uh for uh average daily rate and for revenue pre-available room and for total revenue, and so just to really I mean after 2025, I thought it would be really tough to match some of these months, but uh it was a really sensational month.

It now takes us year to date.

Uh downtown had actually a record over last year.

Downtown's actually sold more rooms than last year.

Uh we've had more uh hotel revenue downtown than last year, and we're right very close to the same ADR and Rev Bar.

It is gonna drop after November because November last year was Taylor Swift, and those three nights had incredible compression and uh demand.

So we'll we'll uh fall a little bit behind relative to last year after November.

But I'm told that December that Big Ten weekend outperformed, Matt Carter told me yesterday that it outperformed uh uh last year significantly.

So we're gonna see when those numbers get pulled up, uh how that uh kind of plays in at the end of the year.

But all in all, we're gonna come in pretty close at the end.

You won't get that report until February of next year because that's the lag on these reports.

But when we report next February, it's gonna be pretty close 2025 versus 2024, which is a positive surprise to all of us, I think.

So for downtown for uh for yes for downtown and Marion County.

Yeah, actually, downtown might be last year, and Marion County is gonna come very close to last year's numbers.

Where we still have challenges is in the non-downtown Marion County, the kind of uh the donut part, the whole where downtown is is doing fine, the outside the county is doing fine, the Marion County outside of downtown is it's not terrible, but it's not you know, it's the weakest part of the market for sure.

On the uh sales uh report, we are at 95% year to date of goal for the end of November.

That's the highest we've been all year.

We haven't been ahead of pace uh for the entire year.

I've been talking about we've had some bottlenecks for a variety of reasons for meeting planners.

Those bottlenecks have completely opened up.

We just met the sales team just met yesterday, went through the arena uh groups to closed before the year is over, where those all stand, and we actually think we're gonna be over 105% when the year ends.

So we're gonna go from not meeting goal for 11 months to probably 105% plus at the end of the year, and then the lead pipeline is really strong at 128%, so that continues to uh in particular significant uh signify the interest in the Signia project and the basics expansion.

Uh there's just a ton of leads that have been generated specifically because of that project.

So maybe so I guess um just talked about goals, and I'm wondering if I just wanted to now think of it.

Um maybe our January meeting if it would be appropriate then.

I don't need any answers today, but just tell the board how you set your goals and how that all works and perhaps it would be helpful to compare it to.

I know there's not a market exactly like ours.

We're pretty unique, and our numbers are showing them.

Yeah, we're outperforming markets that we just can't even believe.

But just explain to us because we've got so many.

We know rooms coming online proposed, or just a recent within the last week.

So that would be helpful.

We'd love to do that.

Okay, thank you.

Um next item on the agenda is the convention center sales report.

Thank you.

And good morning, everyone.

Okay, last month I reported that we had our highest october application record.

We did it again in November.

Our occupancy was 50.3%.

That's the highest that we think you can track, which was back in 2011.

Our attendance, it was 61,512.

So even with those four dark days that we had on the Thanksgiving holiday, we had a really robust calendar for the month of November this year.

We have several hacking rides.

I won't list all those again because I mentioned them last month, but one in particular spotlight.

Progressive Arts Society, I've mentioned them many times before, a long time, and I know for us, they had the highest attendance ever in Indianapolis this year, with 8,000, and that was a 20% increase for them over last year.

So we were really excited to see see their growth and help them reach that milestone.

We also have one building wide, which probably helped us get to that number two.

National Catholic Youth Conference was with us.

They had about 16,000 teenagers, high schoolers that were with us this year.

I did mention last month that they're in every other year, so we look forward to having them back again in 2027.

And then we kicked off December with Big Ten Fan Fest.

We also hosted the alumni pet rallies for IU and Ohio State, ironically, at the exact same time.

So even though all of the main event was at the stadium, we had a lot of fun over here too, and the building was really lively and exciting.

Also last Friday during Big Ten, we actually started moving for PRI in the spaces that Big Ten was not occupying.

And then when Big Ten uh moved out, we continued PRIs that moved in.

Uh their first show day was yesterday.

I'm sure that was pretty obvious as we walked in this morning.

Um they are in full swing.

Um organizers did share with us a couple weeks that they very well could possibly have their largest event on record this year.

So keeping our fingers crossed for them, watching that closely.

I look forward to sharing that with you.

We'll get them all moved out on Monday.

Um, and then we're still kind of pressing the pedal.

We've got some more meetings after PRI before the holidays.

We've got um econ clubs last uh monthly luncheon coming up after PRI.

We also have Indiana constructors again, and we have IU School of Nursing host events commencement as well.

So I'm excited to be doing that.

And then during the hot the actual holidays, those lead days leading up, we don't have any events, but we've got blocked several spaces for our facilities department.

So college groups are gonna get some uh much needed repairs done.

They have some maintenance projects that they're going to work on as well, and they'll take us all the way to December 31st.

Um, and then in January when we meet again.

I will be sure and have some year-in numbers for you.

I'll share our year in occupancy, our year in attendance.

Um, but I think it's pretty safe to say we had a really a good solid 2025.

Thank you.

Any questions?

Okay, thank you very much.

Next report is from Lucasale Stadium here.

Good morning.

We had uh we had a huge November.

It was great.

Um short list but uh big impact.

So uh we started off since we last met with uh BOA grand nationals, very successful at um great attendance, and they filled the city.

It was great.

Um and we went right into the National Catholic Youth Conference that was also over here.

We had uh split in half general sessions at Lucas Well Stadium, so 30,000 people at a time, it was great as well.

Um our Thanksgiving was quite busy.

Uh we had the six IHSA state football championship games.

Uh a little bit down that that's really a function of whether and where what high schools are coming and how often they've been there, how big their community is, but it was um a successful set of uh championship games and really great experiences that we provided for kids in Indiana in West Venue in the state.

Um we had the Colts Texans game, which the outcome wasn't what we wanted, but the event itself ran very smoothly.

Uh it was a very cold day, so we um had to um work hard to make sure everybody showed up to work.

Um because as you know, we got about 3,000 people, and many of those roles are outside, but we did it.

We have a great team that cultivates that, and uh we were successful in on cold weather cold game.

And then of course we have the Big Ten football championship game, which was uh amazing.

Um not only did the good guys win, but it was uh as close to a you know perfect event as we could have had.

We had um the reports from the big team conference were that it was just uh the smoothest game that they have that they can recall and the staff, some of those staff have been there for all the years.

Um so that was great to hear.

And um this is unofficial, but you know, we it was it was probably our third best in beverage day in the history of a stadium, but like the Super Bowl and college football playoffs, so it was a very successful day operationally for us.

And we had a number of private events and our tour program, both public and private that happened in November.

So we're in the midst of the PRI show that is fully in the Soil Stadium as well.

Um the entire field is covered, and there are all sorts of demonstrations and displays going on there.

We have two Colts games before we meet again, including Monday Night Football, which we're very excited for.

It's the first time in a few years since I had Monday night football.

So all eyes again will be on Indianapolis for uh primetime game, and then we have the Colts Drives to cap off the regular season for us.

Uh we're slow between Christmas and New Year's.

Um but that's really the first subject we've had in quite some months.

Uh and then we continue with private events and tours.

I also wanted to mention, you know, we're getting close to the final four.

And we have every month about three full days.

It's almost like an event of itself of planning that goes on.

So that continues and that is escalating.

Uh, we are approaching uh what the NCAA calls decisions December, where we we make decisions on that we've been talking about and contracts get signed that haven't been, and and uh we we continue with that is a huge lift um and we're really glad to do it.

Um it's gonna be a great March Madness.

And um I wish I could say today, but before our next meeting, I fully anticipate we'll have another fourth concert night to be able to announce that will have been announced publicly a few days before our next meeting, and so we look forward to continuing to report good news on the concert front.

Any questions for you?

Thank you very much.

Next report is from Andy on the current construction project.

Um thank you.

The um phase six is the uh convention center expansion and um insignia by Hilton Hotel over May project remains uh ahead of schedule.

Um we are probably looking at opening um around now or a little bit before now um next year in 2026.

Um and that's good news.

Um most of our nearly all of the the project is completely bought out, means all contracted for there are a couple outstanding design items that we're working through with Hilton.

Um just to you know, you have almost you know 1.2 million square feet, and and we didn't agree on every single uh corner of the design of the building.

So we're still working through a lot of that, all of it is still uh nothing that would push back the the um the completion of the project, but we're working through those things.

Um Hilton continues to hire um additional uh staff, executive staffs.

Obviously, we talked about um Caddy Hennigan, who is the uh general manager, but um uh Hilton Corporate from McLean, Virginia has stepped up their cadence of meetings here.

Um we had uh folks um from uh Hilton Corporate here this week going through the building and and everything.

So it's um we're really getting into the nuts and bolts of what it's gonna be like for have um Hilton operate in the building, and it's um that's super um exciting and making everything real.

Um the Georgia Street project, um which we are uh calling the Georgia Street Promenade on the west side, um, just north of the building, uh, or just north of the project, um, is also on schedule.

We um apparently Georgia Street is full of utilities, and um so we've uh we ran into some foundation problems that wouldn't allow us to include the canopy that we planned on the far west side of the of that block.

Um so we've removed that, so that would be a benefit to the bottom line of the project.

Um we've also had some good uh bids come back on furniture and other FFME recently, so that is good news.

That is not as what has happened to this project as we've moved forward, but it's good to see that and then and then we had to we had to transfer the interest on the the 70 million dollars um over to the the project as it stands does um we've got we've got room and um and runway to to land the plane um with the funds we have right now uh and in our budget for next year.

Um the other thing I wanted to update you on and Pam remind me next next meeting probably in January.

Um we should probably put together a report on the Maine Tower just to talk about what is going on with the Banham Tower and sort of have our annual meeting of the building facilities corp, which you are all a part of.

uh to land the plane um with the funds we have right now uh and in our budget for next year um the other thing i wanted to update you on and and pam remind me next next meeting probably in january uh we we should probably put together a report on the main tower um just to talk about what is going on with the Banham Tower and sort of have our annual meeting of the building facilities corp which you are all a part of um but we have really really strong progress um on leasing um really some some pretty strong marquee tenants around our objective of returning it to a sports and an events based um sort of commercial property um so that's really strong really good um we there are lots of things to fix um with the that building it's you know 30 almost almost 40 almost 40 years old um so we are we are methodically and over time um taking on some of those things um for example we are adding um doors to the roof so there's kind of a pyramid at the top of it and we're gonna add doors because the windows of that building have never been washed you can't hang some you can't hang window washing equipment from the roof the way it's designed right now so we are uh correcting that and we'll be watching the windows for the first time in 40 years um so pretty excited about that um and so are our tenants by the way so I might interject we've talked among ourselves those of us working closely on about having our brokers from Colliers come in talk with us and they'll they'll join us on that meeting they've been very helpful in helping us vision it as the office building being restored renovated new life whatever so they'll come in and talk about things yeah and hopefully we'll have these signed and we can talk about these successes um but we have verbal definits from some really strong tenants um that are actually returning to the building so um and that's my report on those controls happy to answer any questions any questions thanks Andy um next item are contracts for approval okay yes the fall protection we'll start with uh stadium um fall protection system at the resort stadium and game bridge field house um this project will supply and install a certified fall protection system for use by the local state channel riggers in both facilities the systems will be installed as part of the structural steel system in each building these systems will increase our safety function for the riggers and help with new efficiencies for rig uh rigging load in um CIB did publish a request for proposal um the CIB received one proposal from diversified fall protection uh CIB staff determined the diversified fall protection proposal was most advantageous to the CIB um meeting the desired intent and design and scope of the work um we wrack it it is a uh cost of um 2,184675 dollars and we recommend approval of the fall protection system contract to uh diversified fall protection obtain a motion to approve so move second second are there any questions or discussion please call the role uh Marcy I uh David C Mick David R.

Bob Maggie Jim I Jamie I thank you very much all right next one uh oh yes it's that time of year again we're real excited um to continue to part our partnership with visit Indy um and uh have for your approval the um the 2026 contract for visit indies um our agreement with visit indie um it reflects a three percent uh increase in funding to visit indie um all other terms remain the same um you know if it ain't broke don't fix it so uh that's that's sort of where we're where we're at and so I just would like to say um we are who we are in this city because of this partnership between the city and the CIB and um it is it is strong and it is uh vibrant and it is um it's the reason for all of the tax revenue that um that Tim talks about and um supports the uh the Marion County hospitality and and um visitor lodging business um and couldn't do without you so we're not gonna vice versa 102 years later it's still a great partnership yes which is phenomenal so did you have any other no I just thank you for the continued partnership and and uh funding and and uh I mean guess everything that the C Ivy's been around since 65 is an Indy since 1923 I think things have been the best since what was it like 123 it was we had a lot more downtown traffic transportation infrastructure like pretty similar less traffic problems yeah yeah a few more car problems car traffic dead horses on the side of the I mean we had we have like a robust trolley and that's what you keep running into with other

I just think thank you for the continued partnership and and uh funding and and uh I mean guess everything that the CIB's been around since 65 is in Indy since 1923.

I think things have been the best since what was it like 123?

It was we had a lot more downtown traffic transportation infrastructure like pretty similar less traffic problems, yeah.

Yeah, yeah, a few more car problems, yeah.

Car traffic dead horses on the side of the room.

I mean, we had we have like a robust trolley and that's what you keep running into with underground samia, yeah.

Yeah, what we saw is 7.5 million people use the interurban um trolley system, interurban and basically uh Marion County transit system for the year.

Actually, they went on out by grandmother.

No, yeah, from Greece.

Which apparently was the largest in the world at the time.

Crazy, yeah.

I have four all the interurban stations out here.

Yeah, that's great.

Wow.

Okay.

So we need a motion to approve the chair, the chair will entertain a motion to approve the Z contract.

So move.

Zero second.

Second.

Any discussion?

Please call the one.

Marcy.

Sorry, David C.

Nick, David R.

Bob, Maggie, Jim.

Jamie.

I'll thank you.

Well, thank you.

Um the the next one um is the CMC or can uh construction manager as constructor contract for the potential and proposed soccer stadium.

Um staff conducted a request for proposals processed to select a construction manager pursuant to this construction uh manager's constructor statute in the I code 53211 et sec for the potential soccer stadium.

We received four proposals.

The evaluation committee met, reviewed, and evaluated all proposals and deemed all four to be valid and responsive to the RP and meeting the RP requirements and the CMC statute.

Ultimately, the review committee determined that the proposal that was most advantageous to the CIB was submitted by SHIL Sexton.

The RFP CMC statute allows for negotiations with the proposing firm selected based on the evaluation committee's review and evaluation.

If the negotiations do not result in an agreeable contract with an acceptable guaranteed maximum price, we have additional rights, including rebidding or terminating negotiations and um moving on to the another proposal.

Um the XV participation will be confirmed with SHILS AXTN as part of the negotiations, and as it selects first tier um selects and qualifies its first tier subcontractors pursuant to our requirements for pursuant to the requirements of the CMC statute.

The necessary real estate is acquired, all legislative and administrative approvals have been obtained, and all of their due diligence has been completed.

The final GMP will be negotiated and finalized then, pursuant to the CMC statute and consistent with the financing documents and all other requirements.

Um for pre-construct really phase one is the pre-construction services of this contract.

Um estimating sort of site evaluation, um, beginning to work with the neighbors and establishing um uh what work um essentially the all the site prep work that will be necessary, uh which we haven't been able to do.

Um we do know the site um uh but we need to we need to really dig in and and understand that and um start determining some constructibility as um uh analysis and uh come up with an initial um sort of rough order of magnitude on a price of a stadium speculation as to what stadiums have cost it in other cities.

Um Indianapolis construction market is always a little different.

Um and right now it's very very good.

So uh it is uh important that we get um the CMC on board and the pre-construction phase so that we can provide accurate an accurate understanding of what it is we're building and how much it will cost.

So staff and council uh recommend that the CME by motion and vote of its members formally wore the CMC contract to Shield Sexton and authorize the executive director, me to enter into negotiations and ultimately contract for the construction manager as constructor services for the proposed soccer stadium under 5321.

Chair would entertain a motion to approve.

So move zero second.

Second.

Any discussion or questions?

What was cost?

Um the cost is basically a fee-based uh for the pre-constructive cost plus cost.

It's really cost plus.

It's it's really professional services based on their their normal uh fee schedule.

Um we'll negotiate it.

They have offered to do it for free.

And I'm laughing because Matt's down there.

Um, you know, and so we'll we'll work we'll work on that, but that's that's what you're authorizing me to do.

Yeah, I'll just mention too.

I appreciate that Andy has led the way on making sure we're doing everything to tee us up for the most successful project we could possibly do.

Um if everything if the stars align and everything works out that it is a go.

Uh I think everybody in the community will have expected us to build a stadium that was in a month or something, you know, how expectations are never what the reality of any large construction project are.

So I'm really very pleased with what Andy's doing to make sure we are ready to go with a great great partner in this, and we'll be ready to meet whatever comes our way.

So thank you, Andy.

Yeah, absolutely.

Um I I do want to add a pen to it and just make sure everybody understands the we we have spent money on design for uh the populist contract and have a really solid program.

Um we'll have a conceptual design here in the next actually.

I'll see it in the next couple hours.

Um at least the draft, so we can start tweaking with actually pictures and drawings.

But um we do not want to get too far ahead of ourselves on a project that we won't ultimately be reimbursed for.

All right, this is pre- you know, construction services that would ultimately be reimbursed by a bond issuance as the uh uh sort of complications of the funding for this project um continue to be talked about.

There's a there's an article this morning.

Um we don't want to get too far out ahead and overextend ourselves financially on a project that may or may not ultimately happen.

It is certainly our goal and our intent and our belief that it'll happen, but we're going to be circumspect and um and make sure that we um and we've talked to Shield and Pacus about both about this that we're going to get to a place where um where we're not gonna uh continue to spend money until we have some assurances that we're gonna move forward uh with the fund.

It's a balancing act as you say.

It is so we've done it well, I think over the years.

I think we're ready to call the room unless there are the questions or comments.

Okay, yeah.

Okay, Marcy.

I to see Nick R.

Bob.

Maggie?

Jim?

Jamie?

I Bruce.

Okay.

Awesome.

Thank you very much.

Thank you all.

Next item on the agenda or codes.

Um pretty much for the operating expense vouchers and the normal months.

Um the uh the that voucher is 5 million 870 5,046.

Um inclusions there.

The confirming voucher this month is 9,422,11517 cents.

Um we have um included in this month, so it's a little bit higher, a sort of catch-up payment to the Indiana Sports Corps pursuant to various sort of agreements we have with them of right around a million dollars to them, and that includes some settlements and some our annual uh our annual payments to them, um, you know, some some event-related uh outlays and my capital Tim's actually happy to answer questions about that.

If uh if there are any, but um if if there's not there's no recusals, we could probably take it to take them together.

Yeah, okay.

Excuse me, I'll bring expense voucher and confirming operation, operating expense voucher.

So moved, second.

um outlays and like happy to Jim's actually happy to answer questions about that if uh if there are any but um if if there's not there's no recusals we could probably take it to take them together yeah okay we uh chair and or take a motion to approve the claims and excuse me operating expense voucher and confirming operation operating expense voucher second uh Marcy David Cye Mick David Robb Maggie Jim Jamie Bruce thank you everyone thank you um under other business I think um Andy you've got some yeah I'm looking um our cadre there you would you please stand and and be recognized for your service for um just uh bang up um controller uh for us um our is retiring and we decided to see him go um our is with along with Tim and the staff but really the leader of the the staff that puts together our audit and all the controls and manages um manages that for us and you know I think we've we kind of become a little bit um I don't know uh spoiled by having really good audits um every year certainly every year I've been here and every year that I can remember um and that's largely in part due to our really strong work um both throughout the year and then working with our auditors to make sure that they have everything they need all the questions get answered and we come away with clean audits um when you handle as much state revenue and operating revenue from all sorts of different sources um it it just just from a background in municipal government it boggles my mind um that we're able to keep it all straight and keep it all um clean and um and transparent for for everyone to see um and I I really appreciate the arch work um and uh wish him well in his retirement thanks yes um we will have to invite Sarah Fisher back we were going to recognize her I imagine she got caught in the snow but um we have a resolution and a gift and everything but um she wasn't able to make it so we did and one last thing I'd like to mention in of the public or other business is earlier this week on Monday we had an onboarding session for Bob Strings and Bruce Donaldson our new board members sat down with our leadership team and um it was excellent every time we're with our leaders that you offered reports from today I learned something um always so they did a great job and I want to also mention to the board if you ever feel like you would like to have that kind of session or get a small group that we can easily facilitate we're happy to do that again.

Because I know many of you everybody's been on the board longer than me except our two new guys we just onboarded so you have a lot of great depth of knowledge and experience with this board but if anybody wants a refresher we're just questions our leadership team are ready to answer any questions you would have you all have to go through any don't have to go through any so but thank you all for all your work in prepping for that session because we have okay do we have any public comments all right we're adjourned thank you all