President Joe Vezzoso expressed disappointment that the Vanderburgh County Council could not be convinced that the ball field project at the Robert’s Stadium site was worth going forward with. The Bureau needs to move on and transfer their deposits of into accounts where they can earn the greatest return. A Recommendation was made to deposit the money into Trust Indiana which is a State program that allows local units of government (e.g. counties, municipalities, school corporations, townships, and other units of local government) as well as the State of Indiana to invest in a common pool of investment assets that preserves the principal of the public’s funds, remains highly liquid, and maximizes the return on the investment. A second recommendation was to keep the deposits local. Currently deposits are at Integra, Fifth Third and Old National Bank. The board decided to keep the money local and to add the Bank of Evansville to their roster, which currently has the highest rate of return. The trustee will do this, insuring that the deposits will not exceed the maximum federally insured amounts.
David Dunn reported that the Bureau was on the Vanderburgh County Council Agenda in error and he will withdraw the project from Council till they have more support and will evaluate that level of support after the first of the year. He reported that by the failure to pursue the bond issue for the ball field project during 2010, they lost $4.8 to $6.2 million in reduced interest charges over a 25 year period and that the Build America stimulus money that will expire at the end of this year. He reported that they had worked on this project for seven years and countless hours. He said that the ball fields would have brought money in to the hospitality business but was caught up in politics.
Joe Vezzoso said that the money in the budget could be used to reduce the Inn Keepers tax. If nothing is done it will cost the City $400,000 per year to maintain Roberts Stadium, he would like to see a strip mall go in there. He said he doesn’t know if he will be in the Bureau next year but doesn’t think they should go out for a project like this unless they have the support of the public and the Vanderburgh County Commissioner and Council.
Bob Whitehouse reported that the hotels have had an extremely good year. He said he has met with the Jehovah Witnesses and that they are coming to town to talk about their convention, and they have some concerns.
The first draft of a four page brochure for the Arena has been completed. Members recommended that pictures be included showing configurations for basketball, concerts, and conventions. The bureau will seek the approval of John Kish, Evansville Arena Project Manager, before going forward with publication.
The Evansville Tennis Association appeared seeking support for improvements of the tennis courts at Wesselman Park. Currently there are three courts there. They have estimated the cost of adding new courts would be $630,000 for the courts and $150,000 for lighting. They have a five year lease with the Parks Department for 7.2 acres which gives them permission to build and improve. This project would create a shortfall of 35 parking spaces which could be added elsewhere later. None of the new courts would be enclosed at this time. There are nine indoor courts in the Evansville area. Major tournaments require indoor courts. The Women’s Circuit sponsored by the Women’s Hospital has been the best tournament in the region. The Tennis Association has invested three quarter of a million dollars over the past five years. At this time they do not have the full support of the County Council but want the full support of the Evansville Convention and Visitors Bureau. Deaconess has agreed to sponsor the upcoming Tournament again.
Joe Vezzoso warned the Tennis Association that they will face the same resistance that the ECVB did with the ball fields, from the neighbors, the community, and the County Council. Currently there is a tender situation at Wesselman Park. The Bureau needs to bring tourism and they have the Inn Keepers support to put heads in beds.
After the meeting when asked by the City County Observer what balances were still outstanding from the ball field project, Bob Whitehouse said they do not share that information with him. David Dunn said there are outstanding bills for legal, design, etc., and that he doesn’t know what the balances are at present but hopes to have that at the next meeting on December 13 at 4 PM.
A City County Observer Mole has been told that the total of the balances are significant. We want to know how much is owed and to whom. Is it for architects, lay out, soil testing, landscape designs, attorney fees etc. We will continue to follow this story.