And um Andy has a special resolution for this.

Thank you.

Uh whereas Indiana Code 36109, the CIB Act empowers the Capital Improvement Board of Managers of Marion County too, among other purposes, finance owned lease, construct, equip, operate, maintain capital improvements under the CIB Act, and to do all other acts.

CIB considers necessary appropriate and appropriate to promote and publicize those capital improvements, support the sports entertainment, and convention and visitor industry and to serve commercial industrial and cultural interests of the state of Indiana and its citizens to assist cooperate 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 of managers.

Whereas Governor Holcomb appointed Sarah Fisher as board members serving two terms commencing on June 7, 2019, and ending in October 2025.

Whereas Sarah Fisher has served as an invaluable member of the board, and whereas during Miss Fisher's tenure, the board hosted in this facility numerous trade shows, events, meetings, concerts, including the college football playoffs, the Big Ten football championships, the U.S.

Olympic swim trials, Big Ten Division One basketball championships, NCAA Division One Men's Basketball Tournament, the WMBA All-Star Game, and related events, the MBA All-Star Game and Rated Events in the NBA Finals.

B started and completed major renovations, Victory Field, from the Indianapolis Indians, including renovation of the ballpark suites, construction of the home plate club, and replacement of the playing field.

C started and completed a full-scale renovation of Gainbridge Field House.

D went beyond the call of duty to assist in landing the American Society of Association Executives annual meeting in 2026, known as the Super Bowl of Meetings.

And E commenced the development and construction of the sixth expansion of the Indiana Convention Center, including a 50,000 square foot ballroom and accompanying 800 room convention center hotel headquarter headquarters hotel.

Whereas members of the board desire to express their gratitude to Sarah Fisher for many contributions to the board and the CIB during her two-term tenure.

Now, therefore, be it resolved that the board hereby expresses its sincere gratitude to Sarah Fisher for her excellent service as a member of the board.

Further resolved that the board wishes Ms.

Fisher continued success in all our endeavors and expresses our hope for a continued health happiness and prosperity.

And further resolve that a copy of this resolution be presented to Miss Fisher as a token of our respect for her and her service.

Motion.

So moved.

And second.

Thank you.

All those in favor say aye.

Great.

Well, I just want to personally thank Sarah for her service and um we got to we got to travel together to pitch ASAE and it's the first time I really got to hang out with her and learn about her family and and all that she's done for the community, continues to do for the community.

Even took a uh later, not on that trip, but gotta take take a ride around to the um the go-kart track and and um spend some time and her business is fabulous.

Thank you for all you've done and all you continue to do for Indianapolis and Indiana and Motorsports.

It's fabulous.

So we do have some gifts, some parting gifts.

Oh my gosh.

So yeah, I hope you brought up shopping cart.

Yeah, thank you.

Yeah, absolutely.

I know this is uh to celebrate our 60th anniversary celebration.

Thank you very much.

Yeah, yeah, yeah.

Let's move my head.

Oh, I'm gonna go.

Oh, you got a nice backhead.

Thank you.

Everybody stared in my back of my head.

Okay.

One, two, three.

Thank you.

Thank you all.

Thank you very much.

You're very good.

Um it's been an honor.

I've had uh, you know, being being in the racing industry, you have to, you know, you're you're oftentimes not allowed to go outside of the box, and this has been such a fun experience to be outside of that box.

And I've learned so much, and uh I just enjoyed every meeting and every time I got to new y'all.

You're welcome back in the past.

Thank you.

I don't know who Laura reports it is.

I don't know.

Okay.

Okay.

No.

We have to leave for her so we can discover.

Yeah.

Okay.

So the next item on the agenda is approval events from our last meeting.

Chair didn't obtain a motion to approve.

So we yeah, no, right.

It's okay, right?

Even though we have left it offers.

I'm just it's a great question.

Um officer serve until our successor.

Exactly.

Today doing officers months uh yeah, cover member Lewis arrives.

So okay, so back to the minutes.

Is there a motion to approve the minutes from January?

Is there a second?

Second.

Any questions or discussions?

Okay.

All those in favor say aye.

Aye.

Aye.

Okay.

Thank you very much.

They approved.

Okay, so we'll go ahead and move on down to uh CID Financial Report.

Thank you.

Good morning, everyone.

Um since this is the end of the year, um give a quick summary of December, just the month of December, and then I'll give a more um year end summary.

So the month of December finished with uh revenues network expenses of a negative 6.6 million dollars, and that's about a 22 million dollars less than the budget.

Uh main reason for that large unfavorable unfavorable variance is that we had a $34 million um miscellaneous income item in there that never happened.

Um other items of note as you go through those.

Um there's an eight million dollar um favorable variance in the field house operating line.

Um it's an expense, and that was mainly due to those uh facers technology improvement in our contract.

Um that um they never spend any of that money, so that was the uh reason for that variance.

Um this is due to the um I'm sorry, I already said that uh capital outlays had a favorable variance of $13 million.

Um that is just uh as we didn't spend any of that capital outlay as we've done all year.

Um debt service had an unfavorable variance of about 10 million dollars, and that is um a timing difference.

We I talked about it in November.

This is the opposite side of that.

Um normally that is paid in November, uh, but the trustee paid it on December 1st instead.

So it's just a variance a timing difference between those two months there.

Um looking at the year of 2025, um, it ended with a negative bottom line of 38.7 million dollars, and that is 2.2 million dollars or 6% less than the budget.

Um the budget had a negative 36 and a half million dollars if you call that revenue um ended with $5 million or 2% under budget.

Total revenue.

Um that was the second um highest in CID history.

Um pretty good year there that was just behind last year, which was the record year.

Um total expenses uh were 2.8 million dollar or 1% under budget, um, and that left the bottom line at 2.2 million dollars or 6% under budget.

Um getting into a little more detail, uh tax revenue totaled 164 million dollars for the year.

Um that is 14 million dollars or nine percent uh more than the budget.

Largest uh variable there um was in uh the admissions tax line, and that was driven by the PACERS um uh playoff push and then also the fever tickets sales um pushed that uh to have a favorable variance there.

Um the only other significant change there uh was in the hotel motel um line, and that had a decrease of about five percent um or about three million dollars.

Uh looking at operating revenue is totaled with 67 million dollars, and that is about 19 million or 22 percent um less than budget.

Uh largest unfavorable variance there was that uh same 34 million dollar that I mentioned earlier and the miscellaneous income.

Um other items to note um rental income and labor reimbursements, which are um operating items that we are our operating revenue items that we can control.

Um they both had a 36% over budget for a combined 11 and a half million dollar total there on the rental income, um, mainly due to increased prices that we we set as well as um some reduced discounts that we had on that as well.

On the rental income, mainly due to increased prices that we we set as well as some reduced discounts that we had on that as well.

Other items, ticket office income was up about three million dollars, and that really is just ticket um ticket fees, uh credit card fees on that.

And then investment income was up about 27% or 2.4 million dollars.

Um their interest rates were just stayed a little higher than anticipated on my conservative budget.

Um switching over to the expense side, personal services is under budget by about four million dollars or 13%.

Uh we just didn't spend as much as we anticipated in the part-time and temporary wages line there.

Supplies category is over budget by a little over a million dollars or 16%.

Umly due to the parts and supplies line, um spent um a little bit higher than uh anticipated there.

Some items, some of the bigger ticket items there were door lock system, freezers and refrigerators and portable bars that purchase other services is 60 million or 53 percent over budget.

Some of the larger variances there.

Uh security labor was over budget by about three and a half million dollars, mainly due in response to the security review that we had.

Uh miscellaneous expenses was over budget by about three million dollars, uh, mainly due to moving utility lines that being few.

Um major repairs was under budget by about three and a half million dollars.

Uh just didn't spend as much as we anticipated there on some of the repairs.

Uh field house operating line um under budget 12 million.

Um, as I mentioned before, it's the technology improvement that we uh um had budgeted but just wasn't used.

Other grants um had a unfavorable variance there where we some of the bigger grants that we made there was uh there's a million dollar grant to the building facilities corporation or Pan Angle Tower to repair the elevators.

Um we had a downtown Indy grant, um, and then also the 72 million dollar grant for the hotel made up that um favorable or unfavorable variance.

Um capital outlay totaled 26 million dollars, and that is over the last five years, that's the lowest um capital outlay that we've had.

Um it was a 59 million or 70 percent under budget, um, mainly due to the hotel grant that actually hit it was budgeted here, but it was hit the other um hit other services line item.

Um some of the larger dollar projects that we had during the year.

So we did um West End Drive Restoration, 500 ballroom, field house um renovation, the convention center roof, um Lucas Oil Stadium Carpeting, Virginia Avenue Garage Repairs, Virginia, and then Victory Field Concourse and Masonry repairs.

Uh debt service total $36 million, and that's about a million dollar less than the budget, mainly due to an accounting correction or change that we made where we adjusted the principal and interest back to the present value.

Um it's always hard to follow up on a record setting here, uh, which 2024 was, but I think we did a pretty good job of it.

Um overall the revenues came in just three percent less than last year, um, being the second highest CIB total in history.

Um I think during the year we also were able to make a large investment in the future of Indianapolis convention business and which was certainly yield benefits for years to come.

So open any questions at the moment.

Any board members have any questions or comments?

Um would you have a minute to talk about actual numbers versus variance from budget?

Because I think we had this conversation yesterday with Andy.

Just when you hear variance from budget, uh for non-accounting types, that sounds like cost runs.

Um yeah, so 2024 was uh the record year across the board.

Um we did do pretty well in a couple categories compared to that, like food and beverage, um, auto rental, um, rental income, and um uh labor reimbursements were all um up compared to last year.

So it was those were pretty good.

Um you know I on my budget I tried to um be pretty accurate.

I I am a little conservative on it, um, but um I do adjust for uh some of the items that may make that when the actuals happen, you know, I try to adjust for those.

So I I think my budgets are pretty pretty close to what really should happen.

So I it's not totally out of the, you know, and I I think it's more accurate than that was it just as you what you're doing on budget.

I mean who has a crystal ball and you're trying to project for an entire calendar year when all the facilities we have to maintain and things happen.

So I always just as we talked, I think the you know, actual numbers are a different thing from the budget, and I feel like you're doing a great job with doing conservative budgeting and just your knowledge and our staff's knowledge of what to expect down the road.

So the crossboard, I mean 2025, it was second um 224.

So I mean it was a great year.

Um without um some of the larger expenses, uh the 70 million dollars um payment, we would have been right there.

So yes, yeah.

Well, and I would also say that the one thing that we I'll say I missed on, it wasn't in this.

Yeah, it was the third, it was the $35 million grant or $30 million grant that uh we just talked about that landed in December as a revenue item that we thought we were we were gonna get.

What we ended up doing was was uh spreading those dollars out over time as opposed to one-time hit.

Um and so uh that's been we were able to um basically shrink a cut to the um interlocal agreement we have with the city.

So um that will go on and and um over time make up for that that 70 million dollar or that 30 million dollar um grant miss or that would that was in this budget, so um it's just not gonna hit this year.

That's the difference.

Um but that being said, you take that out of it.

Um we did twenty five million dollars over what we thought we were gonna get.

So that's uh over what you know, but he and Tim is career is very conservative about how we budget and uh how to um the increases we saw, you know, we couldn't predict the 25 million dollar uh bump and um split pretty closely between tax revenue and operational revenue, which is pretty solid.

Umperational revenue over the over the coming years is going to be more and more valuable as um tax revenues reduced just by operation of some of the um Senate's seven things that are happening, and and we did we spent about an hour yesterday kind of going through this over again, so it bears it bears repeating and re-explanation over and over again because it is complicated.

But um, yeah, so super proud of everybody's efforts in particular in the in the um operational revenue side of it.

Tax revenue we don't really get to control, but what we can control we did very well.

Um I'd also say that we are um gearing up for a really strong year.

Um to have uh with with five concerts, uh full slate of uh you know, super busy building and hotels.

So to have these two years uh rolling into this next year with the final four and ASAE and all these other um, you know, this is this is a pretty good run, knock on wood.

Let's we just gotta keep it up and and hope the uh and we weathered we've weathered a sort of tourism.

I I would I I don't want to say recession, but the tourism across the country has sort of uh stumbled, um, especially on the coastal towns and gateway cities.

Um we've been largely insulated from that, which has been really great.

It also is uh testament to um what we do here, but we also went visit India's done and and our shows that we have brought and scheduled over the years that landed in 2025, um all picked up.

Um we broke records and and lots of different um attendance records for a lot of different shows, and so we're we're super proud of that.

Um we've got the right client mix, we've got the right um, we've got the right sort of balance uh going into this next year.

So happy to answer any questions.

We can get down in the leads if you want, or we can talk afterwards.

Yeah.

It to just uh I mean it sounds like a you know a good financial picture, but what keeps you up at night over the next two or three years?

I mean, what are the risks that you see from a financial point of view?

Um I think the long-term uh the fist the fiscal cliff um where some of our uh tax revenues will be moved over towards to take care of the debt service that's on the LucasOl Stadium in phase five.

Um so it's about 50 million dollars a year will be reverted over to that.

So um when does that start?

Um in 28 or so eight.

Yep.

Um beginning of 2028.

So when that happens, um the I mean that's a hit of 50 million dollars a year in revenue.

So um as we go on, um you know, year to year that starts building up and um so that the cash balance that we have the money that we have, it starts eating into that, and so we have to get through some lean years there uh with the those funds, and so that's kind of what keeps me up.

The flip side of all the success is that we've had um re tax revenue inputs that have outpaced the our original projections seven years ago.

Um that's great, but costs have also gone up and inflation's gone up.

So 50 million dollars that we're projecting now to lose when the shift happens over um it's 20 million dollars than what we had thought it was gonna be when in 2019 when Senate Bill 7 was passed.

We had uh we projected about 30, 35 million that we would lose annually, and we kind of planned around that.

Well, now because those revenues have gone so high, and we're talking about percentages, not total dollars, right?

So it's we're taking so for example, right now we get half of the food and beverage tax in Marion County in 2028.

We will get zero of the food and beverage tax in um Marion County.

So that shift plus the shift in admissions taxes and hotel taxes, um, that shift causes us to lose even more money than we thought.

So that's that's what we're we're managing through.

Um the good news is it's not going anywhere.

It it um the debt service on the stadium hasn't changed, so the state will have plenty of money, um, and it basically goes into a reserve fund, and so anything over that um sits in a reserve fund that we will eventually get to use.

Um, but they can they can use it to pay off debt, they can use stadium debt early, they can use it, and we we get access to 230 million of that as a uh we can borrow we can borrow from that excess fund.

So the excess fund would be plenty of money.

I think the first meeting I had with Andy after I was appointed to the board three years ago, actually this month, he was talking about this.

This so this is something top of mind for Andy and Tim and others on the accounting staff all the time.

So we appreciate every day, every day.

I mean, pretty much every conversation I have with them, we talk about it.

Um so I think you all are not surprised by the fact that our team staff is uh thinking about this and planning and working on it everything every day.

Any other questions or comments?

Okay, thank you.

Um next item on the agenda.

We'll we'll go back and uh do elections of officers.

So I think every everybody but uh first and Bob have been on the board longer than I have that our officers are typically elected the meeting after January 15th.

So this year with way to caliber that now we're electing officers today.

So um commission or member Lewis had you, Madam President.

I'm the following in the I'm with the following individuals to be elected as CIB officers.

Ms.

Marcy for president, Mr.

Corbett for Vice President, Mr.

Mick for Treasurer, and Mr.

David as secretary.

Is there a second to the motion?

So move.

Okay.

Yes, okay.

I didn't line up the second.

Phone me.

Um what I say I did ask the other officers if they were interested in continuing to serve in in their respective offices, and I'll say yes immediately.

I think it's the fastest response to an email I've received from anybody on that group.

So we appreciate all your service and look forward if the vote goes this way to help continue.

So take a motion to approve the resolution.

Well, right.

Okay, so the vote.

All those in favor say aye.

Aye.

Aye.

Any opposed.

Okay.

Thank you.

Oh all right, sorry, that was a little rough.

Okay.

Wow.

I try to be better than that.

If you can walk away from it, it's good.

Okay.

Next item on the agenda is the field house management report with Matt Albrecht from PSA.

Thank you, everybody.

Everyone should have received the uh second quarter ending poll 31 report.

Um just a few comments.

I would say um through the second quarter, we budgeted 69 events, and we had 67.

Um, so we had try to stay the course on on staying up with budget as we move forward.

Um this third quarter, January through March.

Um January was fairly fairly good for us, a little bit with the weather, I think as a lot of people dealt with.

We have a few canceled events.

February was good, and and March is very, very busy with uh women's big 10 and several concerts and other events that we have coming.

So um if there's anybody that has any questions, uh happy to answer.

Any questions?

Okay, thank you, Matt.

Appreciate it.

Okay, next item on the agenda is the visit Indy report.

And James will be doing that.

Yes, good morning, James Wallace.

So with Visit Indy.

Uh we heard Tim and Andy reflect back on 2024 and how 25 compared to I'll do just a little bit of the same.

2024 was a high watermark, great year, incredible one time one-off events that made us have uh a record year.

We always were saying through these meetings, well, 25 is not going to be as good.

And we wanted everyone to be uh uh prepared for that.

Well, there's good news in that.

One, we weren't off nearly as much as we thought for the year, hotel revenue was only off 3.8 percent.

We expected more.

But what's what's really this silver lining in all this is downtown sold more rooms in 2025 than it ever had to set a new record, it exceeded 2024.

And in fact, the entire MSA sold more rooms in 24 than it did in 25.

Now the the pullback was that we're in between downtown and the county border uh was off a bit.

And so we're looking at that to see what we can do to help poster those, but overall it was much better than we anticipated, and we're glad that we had some positive lining there.

Uh December really put us over.

Uh we had a great December uh downtown demand in December alone was up nearly 12% over what 2024 was.

Uh and you mentioned the groups that picked up well, PRI picked up really well in 20 uh 25, so we had a really uh great finish to the year.

Um our sales team did a tremendous job last year.

Uh they exceeded their goal, 108% of our goal.

So we're putting we're putting uh groups on the books for the future, so our future years are gonna be solid.

January even started off well.

Uh we booked 80,000 room nights, which is more than typically we would do it in January.

In fact, it's more than our normal pace by by quite a bit.

So we're off to a good start.

2025 was better than we thought, a really solid year.

Uh about a billion dollars worth of business that visiting the book took place in 25.

And we expect to see that continue.

So good news going forward.

Happy to take any questions.

What's been the reception so far about the new hotel, the signature?

It's been it's been really, really great.

Um we're able to talk about it at all of our trade shows.

Everyone is looking forward to ASAE coming up this year uh so that we can really showcase what's going on there.

Uh, we've also gotten a lot of play out of uh the announcement of the writs.

People are saying, wow, you guys are getting the writs.

So those two properties coming online are really helping to up our profile and helping us to look at how we can layer our business on both sides of the building to uh to even out our demand and and help our overall product.

I'd just like to again make the comment I make a lot.

The uh 300 plus thousand room night supply addition coming into downtown is uh greatly affecting the non-downtown Marion County hotels, as you can see with these numbers, you know, substantially down out there.

So it remains a concern as an owner of hotels, both downtown and in the county that we pay a lot of taxes and we get less and less and less.

So, you know, I just press visit Indy and press us to say what are our sales goals, can we reach them?

Have we increased our goals enough because we have a lot of supply gun and it's a concern.

Yeah, thank you, Jim.

Um we've talked about that here in this meeting in March is when we will hear from Visit Indy on goal setting and what is used to make those projections.

Yeah, and I I would I would just I would echo.

I mean, we're our revenue and is totally aligned with maximizing revenue for every hotel in Marion County, and um I I think it's worth a deeper dive into um how we how we address issues being felt between downtown and interstate.

So just so everybody knows we do really well around 465, um, especially with uh Henders County and Hamilton County and everybody doing so well.

Um, we get attrition from from those uh from those from those counties into or compression into Marion County.

Um once you get a little bit of ways from the interstate, it it becomes a challenge until you come until you land downtown.

So um, and there are a lot of hotels in between, so we've got a we've got a work to do to figure that out.

Yeah, and it's obviously top in mind.

I mentioned it earlier today, so we certainly are looking at that to ensure that I mean obviously we leave with that compression that count town that pushes out, but we're also competing with newer product that is in the outlying counties and the in the movement of people and the population growth that's out there.

So there's a lot going on, and we're very aware of it, Jim.

And obviously, we we want to maximize for the CIB what tax revenue takes place in Marion County, so we care about all of it.

Thank you.

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

Good morning, everyone.

All right, our January occupancy they think it was 43.9%.

Our occupancy last January was 38.5, so we're a little over five percentage points higher this January than last January.

Our attendance, however, 82,630.

And that's compared to January of last year.

We were 128,300, and I'll give you the reason for that in just a second.

I'll start with some good news.

Gen Fest Supernationals, that's the annual cheer competition that we have every year.

They broke their attendance record again this year with 42,455 cheerleaders and guests.

So really excited for them and their continued growth.

Central zone volleyball tournament, which happened after Jam Fest.

They broke the record last year, if you recall, with a little over 35,000.

They were all set to do it again this year.

Unfortunately, their event happened the same weekend as that really horrible snowstorm that Indiana received.

So quite naturally they received a lot of cancellations, um, and then ultimately that that went into the lower attendance that we saw in January versus uh January of last year.

But they'll be back next month with the Nike Minis qualifiers, we're excited about that.

That is the larger of the two that they host.

So fingers crossed no snow March.

We ended January with uh Circle of Stars Gymnastics, that's a great annual as well as Fence Tech.

I mentioned them both last month, so I won't go over those again because they both went very, very well.

Um right now we've got the West Show moving in that is a building-wide great annual.

They'll be with us all the way until the 20th, and then we're gonna go right into NFL Combine.

We host the majority of their ancillary events over here, even though the main event is at the stadium.

And if you haven't already heard, Indy did secure an addition two years for the combine, so we're really excited to welcome them back through 2028.

Um before we meet again, uh, we will have a couple more meetings I wanted to uh mention.

Brand new meeting called the Airport Planning Design and Construction Symposium.

It's hosted by the American Association of Airport Executives, never had them before, so we're really looking forward to having them.

And then, of course, another great building wide annual, the NTEA work truck show.

So both of those will have come and gone before we meet again, so I'm going to share that with you.

And then looking ahead just a little bit after work truck, we're into March, again, as I mentioned, the Nike Vidies qualifier.

Uh, that is the large open two, well over 40,000 will be here for that.

And right after that is all final four.

Um, the convention center is hosting the large fan experience.

We also have the National Association of Basketball Coaches and several other satellite events that they host.

So really looking forward to having them.

It's been 11 years, so we're all really excited.

So it's been a great uh first quarter for us, to be honest.

It's been really exciting.

So I would like to mention um in Monique you might want to speak to this, these little brown boxes in front of everyone.

Um we are celebrating the 60th anniversary of the Capital Improvements Board Creation, and last month um Monique led the work on hosting a very wonderful uh event to kick off our year.

And last month, um, Monique led the work on hosting a very wonderful uh event to kick off our year.

So we had a lot of people here for two sessions.

We had a session for employees and VIPs, but that would be community leaders, pass board members and so forth.

Um, and all the living mayors here.

So it's a wonderful event, and I think really a good way to start off reminding people of the good work at the CIB that has gone on for many decades.

So if you want to say anything, we can't well just add that um we also unveiled our mini documentary, sort of telling the history of this ID.

So if you haven't seen that yet, just go to your website and Catherine.org.

And it's not the only question.

It's a great documentary.

Okay, thank you very much, Jeremy.

I just want to say thank you for the documentary.

Um I teach a couple classes at IEPUI, and I talk often about the paint and games and how that led to the development kind of the downtown Indianapolis idea.

Um, and so I was able to layer that documentary into it.

So great job, and I think we'll be able to use that uh in education and reminding people of what the CIV does for the city.

So it was very helpful.

So thank you very much for putting that out.

And I encourage people to share it with your networks and uh remind people that the CIB was an important part of the history of this the city and how it came to be such an amazing host for various events that I think.

So thank you.

Yeah, we're an integral part of the city's economy.

Yes, all the best here.

Um, and it's a bipartisan, well thought out approach to this 60 years ago, and that's a legacy we continue to welcome.

Thank you.

Next item is uh Lucas Rose Stadium.

Good morning.

Uh we had a great great month last month since we last met.

Um thanks to Visit Indy for having their um uh state of tourism event at Lucaswell Stadium.

I think most everybody was there, and it was it was a great event for us to be a part of on the on the back side, uh and it's nice to have it in our home.

Um we also have Mid America Pool, uh great uh trade show that has been in Lucas Oil Stadium for several years.

Um they were back with an expanded footprint that's built out onto the field this year, so we're excited about that.

We also had Central Zone volleyball.

Um shrunk down uh due to weather uh as well, but it was uh great weekend and a client that we know and love.

Um last night we had Peyton Manning's celebration of caring gala for Pete Manning Children's Hospital.

Um there, large production, um looked really nice, smelled like flowers all day yesterday in the stadium.

So we're excited about that.

Um, in terms of big publicly ticketed events, Monster Jam was was it since this group last met.

Uh we had over 80,000 families, uh, people and families come to the two shows in Monster Jam on Saturday and Sunday.

It continues to be a growing hit, fan favorite, um, and an event that is really does have an impact on our revenue and on our calendar.

Um we will be welcoming the same promoter felt entertainment back in a couple weeks for Supercross.

So we'll be moving the dirt back here a little bit more.

Also coming up, we have the WET show that is in Lucas World Stadium as well as several other private events, uh, and then we get into combine.

Combine obviously uh continues to grow, continues to be a really big part um of our of our month in February.

And uh we do expect because of the local talent that will be taking part in it.

We do expect a lot of continued interest, people that have come before that will be coming back, and also uh people who are uh you fans and and fans of other um teams that are nearby that have a strong showing.

So NFL continues to push us um and we continue to answer the call there to make sure it's a really great experience, and the outdoor experience, which is really the fan fest, uh shifting a little bit um in location to closer to Capitol Avenue, so it'll have a little bit of a different footprint this year in good weather.

Um we did announce our fifth concert night of 2026 since we last met.

So that is post Malone, so that joins two nights of Morgan Wall and Shearing and a night of Bruno Mars for our concert calendar for 2026.

That may be the end, but it may not.

There's nothing that's I think past 50% likely at this point, but conversations have not stopped, and we are well in the conversations for 2027 as well.

So it continues to be a priority and has a big impact on how we plan for our year.

And then final four coming up.

Obviously, it's it's the biggest deal.

We are very tuned to what the needs and demands of that event are.

We've been planning for it for years.

We've got people who are very experienced doing it.

If you don't remember all the features and seating structures that come in from Alabama to make that make that all happen, to have the center court set up and to have the side lines that everybody wants in a football venue that was actually designed for this event because of the four thought of the folks like Tom and others at the CIV in the state who developed Lucas Holston.

So we have a lot coming up, a lot going on.

Teams very excited.

Thanks for your continued support.

Thank you.

Any questions or comments?

I'll just remind you that five concert nights is second only in GIV history to 2024 when we had seven.

So that like we're looking forward to a big year, and just need to remind how how important those concerts have become to our bottom line.

They aren't budgeted because they do happen sort of sporadically, and and uh so any any additional um concerts that we could put in Lucas Royal Stadium that do well, and part of the reason we're able to book more and more is because how well um Indianapolis shows up for things at the Soil Stadium, and that's a testament to the Colts, but also to Eric's work and what we've done to sell that place and sell it out.

So we really worked out to make sure that the promoters, because there's so few of them, um, and they have a lot of choices up there.

Walk away feeling like they had an amazing experience in Indianapolis.

2024 and 2025 helped us, and now we're seeing uh continued benefits of some successful past shows.

Well, three of the seven nights in 2024 were Taylor Swift.

That's right, yes.

So that even tells you a really good bringing four artists.

And she's sort of a unicorn that will come by once and right.

The promoter of the Taylor Swift shows is also the same promoter the other shearing show.

Um we have Morgan Wallen was in 2024, was two of the nights in 2024.

He's back for two nights with a different promoter this time in 2026.

So those all those impressions work and it's been very helpful.

And then, of course, what Game Bridge has been doing for years, this also helped to develop our uh reputation as a city.

Thank you.

Okay, um, next item on the agenda is the update on current.

So um current construction projects, um, the speaking of the signaling project, um we had a challenging last couple weeks just with the weather.

Um, we lost at least a week um because of the the high winds and the um and cold temperatures and snow and all that.

Um so that that's that's too bad.

But we are getting finally we got a break in the weather this week.

Um we've got um we're enclosing um quickly enclosing the rest of the building at the very top, so I could you can see that progress happening today and yesterday and tomorrow.

Um yesterday we uh so that's the challenge.

The good news is we yesterday we got permanent power at long last, so uh the buildings further energize.

We were able to get AES Indiana out there during the middle of a snowstorm and and power up our uh power up our our building, uh which which is no small feat.

I didn't didn't realize how hard uh to to do that, um, how hard it is to make that happen with um seven different transformers and uh the the special special electricians that uh are needed to do that.

Um we have water, we will have steam and or heat on in the next um 10 days, so everything's going great.

Uh we can once we once we have those, we can come off of the temporary stuff and and um start start working on that, which means we can also start rolling the elevators up and down and um just really a big um uh key uh milestone for that building.

Um we are going to uh um feature Georgia Street, the West Block of Georgia Street will be featured prominently during the final four.

Um we will have we will take a break in the in the project and it will be ready to go for the final four.

Um it won't be it won't be completely finished.

There's a lot of stuff in there of trees and and uh you know granite boulders and everything that'll actually be in the way of the final four.

So um we're gonna take a break, we'll stop, um make it ready for them to use it, um, and uh and then uh move and then move back in and finish it out over the summer.

Um so that'll be that'll be great.

Um and then uh we've had a lot of reporting on the soccer stadium happy to answer questions that you might have uh you know offline.

The um MLS remains um very excited about with Indianapolis as a as a MLS city.

Um and we just we're continuing work, so um as long as that as long as that remains the case, that's that's what we're doing.

So um and uh so do putting all the pieces together so that we have a a package and project that's good for residents and taxpayers.

So uh more to come on that.

And that's it.

So when you mentioned about stopping work, work will still continue on the Signia.

Oh, yeah.

Stopping on Georgia Street.

Stopping on Georgia Street so they can use it during the final four.

Yeah, we'll still be full.

Uh during the games, I think we're gonna take a break just because it's gonna be Georgia Sheet so features so prominently.

So that weekend, so that I think probably Thursday, Friday, Saturday, Sunday, Monday, we'll probably have off.

Um, but that we've known about that for months and months.

So um it's not a surprise.

But yeah, so there'll be um it's gonna be hard to get materials in when you've got you know CBS broadcasting from the area.

Oh, we tens of thousands of people if you know anybody.

And there's the what's the great thing about the final four is that um there's entry level uh for all different uh folks who want it.

There's free events, there's low-cost events, um, even if you don't have a ticket to the Visual Stadium because your team's not playing, or maybe they are um you can still interact with um and be part of the the final four.

And that's what's great about Indianapolis.

We always show up.

So yeah, we're lucky to have the convention center in such proximity to all the events and appreciate all the work that goes in at the convention center in connection with these events.

It's a lot of it's at Lucas, but they partnered well together and it's appreciated.

Absolutely.

Okay, any questions for Andy?

Okay, thank you.

The next item on the agenda um contracts, the ICC connector.

Oh yeah, sorry.

Um ICC Connect to the Sydney Hotel um number nine big contract award.

Um the scope of this contract is to provide uh carpet tile flooring for the interior sky bridge of the walkway.

Um the project was publicly bid under Indiana uh code 5227.

We received four bids.

The low bid was submitted an amount of 28,685 dollars 30 cents by superior carpet installers in which the contractor identified post bid, large scope of work, not calculating their overall cost.

The bidder requested approval to withdraw the bid due to the scope gap and CIV granted that request.

Um therefore the second lowest responsible response of bid was submitted by Blakely's Corporation, the amount of 63,800.

Staff and council recommend uh the award to Blakely's Corporation the amount of 63,800.

Chairman retain a motion to approve.

So move.

Is there a second?

Sorry.

Any questions or discussion?

All those in favor, say aye.

Any opposed?

Thank you.

Next item on the agenda is disposal of obsolete equipment.

So move.

Thank you.

Second.

Any discussion?

All those in favor?

Aye.

Aye.

Thank you.

Next item on the agenda what claims I would like to take them both together unless there's any objection.

See them.

Okay, Andy?

Um this month operating voucher is in the amount of $13,866,900 forty-five cents.

Except for we did have settlement of the Big Ten uh football championship at Lucas Royal Stadium, so the payoffs um hit in February.

Or yeah, vouchers for February.

So we we we will pay that if as soon as this operating voucher is approved.

Um confirming voucher is generally normal, it's 11,957,546.

Um we uh this includes our normal annual payments to the Colts, so there's revenue sharing and um game day expenses that we settle out with the Colts after the season.

So any questions vote.

All those in favor say aye.

Aye, aye opposed.

Okay, thank you.

So now we're down to other business.

Any other business to come before the board tonight?

Any public comment?

We need to second we need to move and second.

We need to move and second.

We skip the second.

I skip the second.

You move.

Okay, I move.

Second.

Okay, thank you.

Okay, let's vote again.

All those in favor say aye.

Aye, no opposed, thank you.

Okay, so you know public comment.

Okay.

Or adjourned.

Thank you.