Tax hikes proposed to fund Indy stadium agency

June 4, 2009 (INDIANAPOLIS)

Daniels and Indianapolis Mayor Greg Ballard said Thursday the tax hikes would raise $20 million in additional revenue for the Capital Improvement Board, which would merge with another Marion County entity.

Daniels says the proposal would resolve the agency's $47 million budget gap that emerged after it started running the new Lucas Oil Stadium. Tax increases need the approval of state legislators, who will begin a special session next week.

The proposal also includes $13 million in savings by merging the agency with the Marion County Building Authority and boosting venue efficiencies.

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