Ind. Facility Funding Delayed
Officials in Fishers, Ind., have delayed voting on millions in public funding for a proposed $76.4 million recreational sports center. Developer GK Sports and Entertainment’s plans for the facility include a 6,000-seat arena, a 245,000-square-foot fieldhouse, a parking garage, office buildings and a hotel with meeting space.
While the developer is still getting funds in place for the project, the city appears to be supportive of the project.
Mayor Scott Fadness told the Indianapolis Star that unless strong opposition emerges, a finance package that includes a waiver of $1 million in permitting fees, a 10-year tax abatement worth $2 million and an $805,000 annual lease agreement will likely be approved once the developer finds funding. GK Sports reportedly has financing in place but is waiting on an underwriter to appraise the project.
The company would manage the facility and lease the space, the Star said, for such events as concerts, youth sports leagues, hockey and basketball.