The Capital Improvement Board is still negotiating a longer-term agreement with the Indiana Pacers, but its 2014 budget includes an estimated $21 million in spending to support an eventual deal.
That sum includes $11 million for a potential payment to offset the NBA team's costs of operating Bankers Life Fieldhouse. A one-year extension that goes through June 2014 had cost $10 million.
And the CIB also budgeted $10 million for still-unspecified upgrades at the fieldhouse. CIB President Ann Lathrop said those upgrades are needed items, but are part of negotiations.
Lathrop called a deal with the Pacers likely by the end of the year; it could extend the team's commitment beyond 2019. She said the amounts in the proposed budget, which is up for vote by CIB members this afternoon, are approximate but reflect current talks with Pacers Sports & Entertainment.
Lathrop did not reveal anything else about negotiations or hint at the possible agreement term or overall dollar amount being discussed.
The proposed $115 million operating budget for 2014 reflects a $35 million increase over this year.
That is due to the anticipated Pacers costs and long-planned maintenance and upgrades at all CIB-overseen facilities, including the convention center and Lucas Oil Stadium.
Overall, the budget would have a $33 million deficit, dipping into savings set aside in recent years for building upkeep as well as operating reserves.