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.
Fishers doesn’t have any major league or national teams that would warrant such a building. It seems to be a Fadness wish list expense. With the Palladium in Carmel and the music center in Noblesville it seems like there would not be much need. High schools already have their own theaters and athletic fields. I don’t support this additional tax for this project. Projects like this should be paid by fees for those who will use it or by an investor who sees a need so will invest the funds to build. As we all know, once a tax is applied, it never is removed as they always find reasons to keep it. I really doubt the assumptions on events per year figures.
The ability to enact this tax was a payoff in exchange for a 1% tax for Lucas oil stadium. This means 2% will now go towards sports stadium. This is just more corporate welfare. I wonder what the mayors payoff is. How about this instead: sell the Fuel tank arena and use the proceeds.
Another Fadness fantasy, all about feeding his ego at the expense of taxpayers. Absolutely ridiculous for us to subsidize a rich sports team. let people who use the facility fund it. Tax paying residents will only get additional traffic congestion and public safety deterioration with increased public safety expenses. Way past time for Fadness madness to stop. Wake up and smell the coffee folks…Speak with your vote on council and mayor races.
Absolutely using my blue 💙 vote