I'd like to call the meeting of the capital improvement for any order.

I see everybody.

Thank you for coming in.

First item on the agenda will be approval of our minutes from the June 12th meeting.

We'll be doing a roll call.

Thank you, Maggie, for joining.

There we go.

Any motion and second.

Second.

Okay.

RC.

Aye.

David.

See?

Nick?

Hi.

Bob?

Jamie?

Aye.

Bruce?

Jim.

Aye.

Maggie.

Thank you.

And just a point of clarification for people when members aren't in attendance at the meeting for which we're voting on minutes, they're abstaining from voting.

So this is appropriate.

Thank you.

Okay, the next item on the agenda are we forwards.

We leave with the CIB financer.

Thank you.

Good morning, everyone.

May 2026.

Finish with revenues net of expenses of 12.3 million dollars, which is about $90 million more than prior year and budget.

Two main reasons for this large variance.

I'll go into more details there.

But we budgeted in May, it normally is made in May at the end of May.

So there's a timing difference between May and June there.

It's about $7 million.

And then also due to Morgan Wall and concert, which was in May, so that kind of made up the budget variance there.

We'll go into more detail about later.

So getting into the details, tax revenue totaled $16 million, which is about $2 million more than average and more than last year.

And final four was in April, so we're getting the taxes for the final four.

So you can see as you look at it, the hotel motel, food beverage, the auto rental, and the PSDA, you'll see those are all a little higher than the prior year.

So it all kind of works right with the final four tax would be the taxes are in there.

Operating revenue was total to $9 million, which is more than prior year, and budget by about $4 million.

Largest favorable variants there, food service concessions, and also ticket office income lines.

Both those are directly related to the Morgan Walling concert.

So we looked at that concessions.

And so far in 2026.

We spend $136,000 there.

So a couple of the bigger projects that we have going now.

Dent service, totaled 1.2 million dollars.

And that normally matches the budget.

As I talked before, there was a timing difference there.

So the bond trustee paid it in June.

Is because May was on Sunday.

May 31st was on a Sunday.

So they paid it on the following Monday, which was June 1st.

So it's just a timing difference between May and June.

We'll see the opposite variance in June.

So it's a favorable variance this in May.

We'll see an unfavorable variance in June.

So all in all, the bottom line, you know, perspective there, it was a very good month.

Bottom line of positive 12 million dollars.

7 million of that is the timing difference, but still that leaves a $5 million bottom line, mainly contributed by the final four taxes, and also the Morgan Ball and Concert in operating income.

So good month.

Any questions for Tim?

Thank you very much.

Next is the Visit Indie report.

Good morning.

Leonard is traveling, so good morning, Chris Paul.

Happy to be with you.

This is my 21st year of Visit Indy in my sixth month overseeing our sales and marketing function.

So I wanted to give you an update on how we're performing.

Since our last meeting, we've promoted two people.

Our 14-year veteran Joyce Russell was promoted from vice president to senior vice president.

Also our 35-year veteran Diane Winsit was promoted from associate vice president to vice president.

So we've had those two promotions since we last met.

Since our last meeting, we've held hosted 10 prospective conventions to our city to get the tires to see about booking Indianapolis, and they represent groups all the way out through 2033.

We've also been busy traveling since we last met.

We've gone into market in Chicago, D.C.

to visit with 25 prospective conventions to get their attention and have them book Indianapolis.

Our board met last week.

We have five goals that we hold ourselves accountable, and I wanted to report out at mid-year on these five goals.

The first goal is convention booked route nights.

And through June, we're at 95% of our goal.

The second are tentative room nights, people looking to book Indianapolis and trying to move that needle.

And we're at $127% of our goal.

Also, Friday, Saturday leisure uh room nights.

We're at 98% of goal.

Our visitindie.com web user goal.

We're at $108% of goal.

So more people are clicking into our website to learn about Indianapolis and visiting.

And then we also raise non-CIB private revenue, and we're at $104% of goal through some grants and our partnership dues and ad sales.

One thing I wanted to mention that will happen before the next time we meet in August is the American Society of Association Executives or ASAE.

You've heard us talk about this.

We're very grateful to the CIB for their gift to help us host this.

This event happens August 15th through the 18th.

We have 5,000 C-suite executives, meeting decision makers who will be here.

This is the Super Bowl of meetings.

We believe 60% of these individuals have never been to Indianapolis.

These are chief marketing officers, executive officers, and they have the power of the pen to sign contracts.

So it's a meeting for meeting associations.

We'll have medical meetings, tech meetings, and this presents a unique opportunity.

We are curating each term.

The events at the motor speedway at White River State Park.

We have an event on Minding and Circle.

We'll be inside the stadium, thanks to Eric and the CIB to showcase why Indianapolis.

So we're very excited about that opportunity.

And we believe over the next 10 years, very conservatively, $800 million in future convention business will be derived from hosting the American Society of Association Executives for five days in August as we look to promote embark with Indianapolis.

Finally, in working with uh Monica and Monique and their public relations team, our public relations team, we're very proud.

Indianapolis Monthly, the cover this month.

Convention City, and I hope you've had a chance to read this as CIV board members.

Now Indianapolis turned its modest Midwestern practicality into the makings of a booming convention hub with gamers, firefighters, future farmers, and more coming to get things done.

So any questions for the visit indicating.

Congrats on the semester piece.

Thank you.

Those are very variable.

Thank you.

Thank you very much.

Okay, thanks.

We have the trip to say that's what we're talking about.

Thank you.

Good morning, everyone.

Alright, we've only had three events since we last met, which is pretty unusual for us.

That's mainly because of US State Volleyball.

They were here for really long stretch.

14 days from start to finish.

We're expecting between 45 and 50,000, and that was based on where they came in at four years ago.

Their final attendance this year, 59,417, so just shy of 60,000, which is incredible.

So really successful meeting.

We love this group and really enjoyed having them.

Our total June occupancy was 57.6%.

Our total attendance was 56,317.

That obviously doesn't include USA volleyball.

That's because the meeting started in June and ended in July.

So that attendance will you'll see that next month off for July attendance.

But overall, our June was very average and very typical for us.

Very in line, very in line with what we're used to seeing.

We actually got USA volleyball all moved out just on Sunday.

Wednesday we started moving for National Youth Activities Association.

Both of those are actually in session right now as we meet this coming Monday.

We have IBE Summer Celebration, they'll be with us all next week in the South Campus.

We'll also welcome at the same time in the North Campus Pentecostal Assemblies of the World.

So we'll have a really full building next week.

And then on the 26th, we're going to welcome back our wonderful annual Gen Convention.

And like Chris said, we do have a long stretch before we meet again.

We do have two very important meetings that we'll host after before we all convene again.

I won't repeat everything with ASAE.

We all agree a very important meeting.

We're looking forward to that.

But we're also hosting IABM International Association of Venue Managers.

Not as widely known as ASAE, but it's an important meeting to us because it's our industry convention.

So all the attendees work at convention centers, sporting arenas, and stadiums, as well as other entertainment venues.

So we're looking forward to putting our best foot forward for both of these meetings.

Um August is obviously good to see you.

We've hosted 85 meetings so far.

We've had three dark days.

So needless to say, it's been an incredibly busy first half of the year.

Happy to take any questions.

Any questions for Monique?

That's a great report.

Thank you.

Good morning.

We fairly brief, but if you remember when we met last month, we it was showed it for post-millen and jelly role.

So I'm happy to report that that was a successful day, successful concert.

We're really excited about those as we talked about before.

They're not all two-night extravaganzas like like Morgan Lolland, but they are all really important pieces of business for the stadium and for kind of the whole tapestry of music and concerts in central Indiana.

So we're really happy to be part of it.

We did have the big HOSA event, which was the young professional medical professional folks who came to town, and that was a successful event, and then we had 22 courts for USA volleyball at Lucas Oil Stadium.

So we were a big part of that too, and that was a lot of fun to see it take over the city for such a long stretch.

We're in the midst of herbal life at Lucas Oil Stadium as well.

They completely transformed the field into the stage, and there really is the herbal life extravaganza over at LLS.

And then we continue to do a number of private events and public and private tours as we try to fill in little spots in our calendar.

We do have a before we meet again, it's a long stretch, and we also have some annual things that we do to get prepared for the NFL and the Colts.

So there's uh NFL related technology that happens.

Calibrating different things for broadcast and for uh the games themselves.

So a lot of that's happening.

We're doing a lot of safety improvements around the soil stadium with the help of a lot of people in this room, including Tom, and a lot of repairs on signage and things like that, that um especially the final four coming through that we need to get taken care of before the season gets started.

Also some third-party inspections and things that we do to protect all of us and make sure that all of our equipment's in good shape.

Then we have Gen Hot.

It's a huge part of Lucas Oil Stadium.

It continues to grow.

And as Chris and Monique mentioned, we are taking part with ASIE and having that grouping, so I said, Show it off.

That's about all I have for you, but I'm happy to take any questions.

Just want to thank everybody for the support that you give to us and our staff.

We have a really high performance in one now and appreciate all you do to make sure that they're they're there for us.

Any questions?

Any questions for Eric?

Thank you.

Another great report.

As I said last month, it's nice to see the collaboration between the convention center, Lucas Oil Stadium, because that's what all these buildings are built for.

So that's great.

So thank you.

Okay.

Next report is from Andy on update construction projects.

So the Signia Hotel Fodia project along with Georgia Street is going as anticipated, no real changes.

We are sort of at the stage where we're buttoning up all the last minute things, the things that we kind of were playing with, and are we going to do this with the wellness center?

Are we going to do that with the club city?

And so we're buttoning all that up so we can be sure to be done and everybody's happy with construction projects.

So the construction that's sort of like doting I's and crossing the T's on the construction stuff.

We also have a really good rhythm and momentum on finishing out rooms and the sort of public spaces.

So that's all in really good shape.

The notable part I think of where we are right now is logistics, logistics, logistics, because as we are finishing out the construction of the upper floors, and the public spaces, the the large podium, the ballrooms, and everything.

We are also loading in furniture into all the guest rooms on the lower floor.

So say four or five hundred uh guest rooms are getting furnished right now, and that is not controlled by the contractors.

So we're having two different major enterprises happening simultaneously different parts and only limited limited elevators and dock space.

So that's really uh what's happening right now.

I think what's what's really fun to watch also is just Georgia Street because you can get vantage points from different different places.

So you're seeing snow melt go in and and concrete pours happening, and that's tracking to be done by the beginning of September.

So it'll look a lot different by the time we need at the end of August.

So pretty sad and stuff.

Anyone have any questions for Andy?

Well, once again, thank you, Andy, for just bird dogging us.

Um, yeah, just every month we appreciate all the detailed reports and that you and our staff are just to never take your eye off the bottom this way.

Okay, next item on the agenda are contracts.

So, oh yeah, so um so we have two contracts uh related to Victory Field.

Um Victory Fields celebrating 30 years this year, so um, which is pretty remarkable.

Um, and this is sort of uh part of what we're doing.

So after the season, we'll begin with concrete repairs and replace the seating, they go hand in hand.

Um, so first victory field concrete repairs in accordance with the operating agreement between CIB and the Indianapolis Indians.

CIB is responsible for structures related to repairs and replacements of the capital structure.

Um this project consists of repairing damaged concrete, replacing cock joints, and installing uh traffic coatings and striping.

The project will take place in conjunction again with the seating, um, replacing the seating in the stands.

Uh we issued a public bid under Indian Code 36112 with uh and two bids were submitted.

Um the lowest responsive responsible bid is almost entirely self-performed.

I mean, almost entirely, it is all entirely self-performed.

Just straight basic concrete work, and that's what uh bully interest does.

So happy to answer any questions.

Any questions?

Chair to entertain a motion.

So it's callable.

Marcy?

Aye.

David.

Aye.

Mick.

Aye.

David.

Aye.

Aye.

Jamie.

Aye.

Bruce.

Aye.

Jim.

Aye.

Maggie.

Aye.

Great.

And then next is uh seat replacement.

The CIB and the Indianapolis Indians under the agreement.

A negotiated agreement in January to incorporate a cost share program for the replacement of both the upper and lower deck bowl seating at Bricking Field.

The seating is the original seats from 30 years ago.

So the first time we've ever uh had to replace the seat, so which is a testament to both the care and uh attention that the Indians have given to the to our stadium um uh over the last 30 years that we've only had to replace the seats now uh the CIB issued an RFP with two with interceived two proposals in partnership with the Indians, the proposals were reviewed consistent with the criteria requirements set out in the RFP.

It was determined that Irwin seating incorporated presented the most advantageous proposal and staff recommends it award of the contract the amount of two million three hundred thirty three thousand five hundred dollars twenty six cents to Irwin seating incorporated questions on the seating replacement contract, chair entertained a motion to approve.

So move, zero second, sorry, okay.

Marcy, David Cye, Mick, David Albert, Jamie, aye, Bruce, aye, Jim, aye, Maggie.

Aye.

Thank you.

Next item on the agenda is disposal of obsolete equipment.

So we second.

Any discussion?

Please call the roll.

Marcy, David, Nick, David, aye, um, Jamie, Bruce, Jim, aye, Maggie, bathroom.

I think Lance.

Last item on the agenda for voting for the wife.

Yeah, the operating vouchers.

Um, so the operating voucher of this month um is 7,797,328.44 cents.

This month is high for the operating voucher.

Two reasons.

One is the last payment of our grant visiting for ASAE, and so we'll be able to use that in order to pay for all the things that are on the calendar for ASAE, which is pretty amazing.

Um, so with your money well spent, and then um this the second item, uh large item is the admissions tax for Morgan Law, right?

So um two nights, two essential sell-out nights, admission taxes three million dollars that we pay to the state department of revenue, and then we receive that back, uh, or 90% of it back um the next month or the month after.

Um, the current confirming voucher is six million two hundred and twenty-two thousand eight hundred and thirty-four dollars ninety-nine cents.

Um, this has um some costs that we are undertaking.

There's some final four costs.

We've had to um spend a little bit more than we anticipated on furniture storage for um the hotel project.

Um we have some down some payments due on the bridge project for the hotel, um, and just utilities and normal expenses.

So, any questions on the vouchers?

Chairman would take a motion to approve.

So move.

Seriously.

Okay, Marcy.

Hi.

David, aye, Mick, aye, David, aye, uh, Jamie.

Hi.

Bruce, aye, Jim.

Aye, Maggie, aye, thank you.

Anything to come under other business of the year?

Any public comment?

I'd just like to close with a special again.

Andy mentioned it, but 30 years of victory field.

It's been a great, great drawing.

I don't think anybody would think it's 30 years when you go into that facility.

So as you said, Andy, hats off to the team at the Indians and our staff too for just keeping this facility in great shape.

So one thing I would like to mention is good, Marcy.

Um so just next month, just uh especially for the new members.

Um it'll be our budget.

It's obvious that we'll um we'll have our budget.

Uh that's why it's a little later, we need a little extra time to to put that together, but we'll be approving or introducing to you and hopefully approving um the 2027 budget.

People should plan on an hour for that because it's been it's a very fair little slideshow you put it together for us.

Yeah, bring your glasses, yeah.

A little font.

Yes, the famous little phone.

We still like you anyway, but thank you.

All right, we're there.

Thank you all.

Thank you.

Thank you.

Another effort.