(INDIANAPOLIS) - The Capital Improvement Board of Indianapolis has approved $5 million in capital funding for the IUPUI Natatorium.
The vote was five to two Monday.
Indianapolis City Councilwoman Maggie Lewis voted against the funding saying the city has already given IUPUI $10 million. However, Indiana Sports Corporation President Allison Melangton says that money went toward other upgrades on the IU campus and not the natatorium.
Melangton says the natatorium is a critical tourism tool and the money is needed for upgrades. Melangton says in the past five years, the natatorium has lost at least ten events due to concerns about the facility. She says the CIB money will go into a reserve maintenance fund that the Indiana Sports Corp will manage.
CIB head Ann Lathrop says the funding will be spread out in $500,000 installments over ten years. Installments begin this year. This comes after the City of Indianapolis, IU and the Lilly Endowment agreed to a $30 million renovation for the facility.
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