A new sports complex may be coming to the Saxony area of Fishers after all. The project has been on hold since the initial announcement in 2015. Mayor Scott Fadness told the Fishers City Council Finance Committee Wednesday evening that the revised project will be much the same as the original one, with two major changes. The new plan will not contain an arena or a parking garage. The new proposed site will be on the other side of Olio Road, away from the residential area.
The city would lease space for community use.
The mayor emphasized to the Finance Committee that the new financing package for this complex will consist of a special revenue bond. The bond will go through the Fishers Economic Development Commission only because parts of the project will be eligible for tax exempt financing, but the mayor made clear the city will not back these bonds, and that it will be up to the developer and the bank handling the transaction to sell these debt instruments on the open market.
“In no way, shape or form, do those bonds or the financial obligations that come with them, have anything to do with City of Fishers,” Fadness told members of the Finance Committee. “So we are not on the hook in any way, shape or form for the debt associated with this project.”
The matter will go before the Fishers City Council Monday night.
Turning to yet another project, the city is proposing a $7 million upgrade to the downtown Amphitheater.
“We are a victim of our own success,” Mayor Fadness said, on the need for these upgrades.
This will include a redesign of the parking configuration for Amphitheater events. The mayor described plans to move the stage further out to allow for more arts events, such as plays and space for an orchestra, and align the roof of the Amphitheater consistent with those changes.
The city will be under a tight timeline to complete this construction in time for next year’s programs. Fadness expects to begin the project just after the annual “Boo Bash” Halloween costume party. begin construction then, and have the facility ready by the middle of May, 2018. “We should be praying for a mild winter,” said Fadness, so the project will be done on time.
The city has hired an architectural firm for this project and the mayor is hoping to have designs ready soon for council members to review.