Mayor Scott Fadness held a lengthy briefing Wednesday evening on his mammoth $1.1billion economic development package before the Fishers City Council Finance Committee and laid-out plans to finance a part of that plan, the 8,500 seat events center.  Included in that financing plan is a food and beverage tax.  That would add 1% to food and beverage charges to restaurant meals, from an 8% sales tax to to 9%.

Most communities surrounding Fishers already charge the food and beverage tax.  The Fishers Town Council was given a one-year window to pass the food and beverage tax, but in December of 2013, the town council tabled the proposal and never brought it back for a vote.

Fadness is putting together a financing plan that would not increase the city’s share of the tax rate, but that package depends on the City Council’s approval of the food and beverage tax.  There will be a public hearing before any council vote.  Fadness says state law is providing a two-year window for the Fishers Council to enact that tax, beginning July 1 of 2022.

The new event center will seat 6,500 fans for hockey or basketball games, 8,500 for a musical act with the stage in the middle (in the round) or 8,000 with the stage placed on one end of the venue.

Fadness told council members Hamilton County Tourism believes there will be a major demand to use this building for conventions.  The Indy Fuel minor league hockey team will have 30-35 dates at the center each year, and Fadness expects roughly 125 events in total per year.

The City Council will be asked to pass a resolution at Monday night’s meeting indicating the city’s intention to move forward with the expanded Fishers District and events center.