Monday, July 12, 2010

$33,500,000 Bailout for Indiana Pacers While Libraries Get Squeezed

Link to July 12 Indianapolis Star article, "Pacers getting $33.5 million to stay.  Under short-term deal, team must repay CIB all or part of the money if it leaves before 2019".

Excerpt: The city and the Pacers are expected today to announce an agreement hailed by some as an important step in protecting the financial state of the city but criticized by others as a multimillion-dollar bailout of a professional sports team and its billionaire owner.

The deal comes after months of negotiations between the NBA franchise and the Capital Improvement Board, which operates the city's sports venues. It supplements the existing contract between the parties, which lasts through 2019.

The idea of providing money to a sports franchise has incited criticism by some, but city leaders insisted they have been tough negotiators

Related articles:
High performance government team report.  (7/11/2010)
Board delays decision on branch libraries.  (6/5/2010)
Another big turnout for libraries.  (5/13/2010)
Mayor vows to keep library branches open.  (5/12/2010)
Residents speak up for their libraries.  (5/11/2010)
The neighborhood library as refuge.  (5/2/2010)
Indianapolis Star editorial board keeps library funding issue front and center.  (4/25/2010)
Efficiency experts look for ways to keep branch libraries open.  (4/23/2010)
More than 1400 sign petition to keep Glendale branch open.  (4/20/2010)
Editorial:  Find resources for library.  (4/19/2010)
What's in store for Indianapolis-area libraries?  (4/17/2010)
Indiana Pacers bailout talks continue.  (4/16/2010)
Postscript.  (4/15/2010)
Look what's at the top of Indianapolis's to-do list.  (4/14/2010)
A Challenge to Indianapolis-Marion County:  Stand Up for Libraries.  (4/13/2010)
Library rally caps?  Get real, sez IndyStar editorial.  (4/12/2010)
Will Indianapolis rally for its libraries?  (4/12/2010)
Library considers branch closings.  (4/9/2010)

1 comment:

Anonymous said...

Can you really believe this? Closing libraries and schools while handing over tax dollars to the wealthiest family in the state- in the name of entertainment?

I am a republican, the old non big spending type of the last decade, but the mayors corporate bailout hypocrisy has completely clouded any reasonable judgment he was supposed to have.

I found a great symbolic Pacers Bailout sticker for my car: