The Fishers City Council will hear the proposal for a $76 million multi-purpose sports and entertainment venue Monday night.
Plans for a large sporting complex that includes a 4,200-seat arena and an adjoining 245,000-square-foot fieldhouse are in the works for Fishers. Mayor Scott Fadness says that it comes without risk for taxpayers.
"This is a privately financed facility, the City of Fishers would enter into a lease for a portion of it to meet a growing need for indoor recreational space for our youth," says Fadness.
The annual lease payment of $805,000 would be paid using tax-increment financing money, ticket revenue and park impact revenues. The council will also consider a $2 million, 10-year tax abatement for the complex.
Fadness says a recent survey pinpointed a need for the project.
"Over 80 percent of the people who responded said they would be willing to pay more if they had availability of indoor recreation space," says Fadness.
Fadness says the venue would bring an estimated $110 million in economic impact for the city. A series of community information sessions are also planned over the next few weeks.