Excerpt: The Library Board meets Thursday night to consider budget cuts. The Capital Improvement Board meets Friday to approve the Pacers deal, which will be financed by budget reductions, increased revenue and a $27 million loan from the state. The city derives no new Conseco Fieldhouse revenue from the agreement.
"We're going to be faced with the problem of how do we repay that $27 million and where do we come up with the money after the three years period expires to continue making subsidies to the Pacers?" asked Advance Indiana blogger Gary Welch.
At Monday's announcement, Pacers CEO Jim Morris was asked if the team would consider making a charitable donation to the libraries in an attempt to offset criticism that the city's subsidy amounted to a bailout.
"Well...sure," said Morris. "You should know that he would not like me saying this but (owner) Herb Simon gave the libraries a million dollars."
Related articles:
High performance government team report. (7/11/2010)
Library board delays decision on 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)
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