History and General Provisions
Capital Improvement Board of Managers
of Marion County, Indiana
The Capital Improvement Board (CIB) is a municipal corporation of Marion County created in 1965 by the Indiana General Assembly pursuant to the provisions of Indiana Code 36-10-9, and authorized by the statute to finance, construct, equip, operate and maintain any capital facilities or improvements of general public benefit or welfare which promote and serve the commercial, industrial and cultural interests of Indiana and its citizens. The Board may assist, cooperate and fund governmental, public and private agencies and groups for these purposes. The CIB operates and/or owns the Indiana Convention Center, Lucas Oil Stadium, Bankers Life Fieldhouse, Victory Field, Virginia Avenue Parking Garage, and Capitol Commons, all located in downtown Indianapolis.
As a public entity, the citizens of Marion County, Indiana, are its stakeholders. There are no private stockholders or investors. All revenues and other receipts must be deposited and disbursed in accordance with provisions of its enabling statute. The Board is composed of nine members. By statute IC 36-10-9-4, six members are City of Indianapolis Mayoral appointees, one appointee by the Marion County Board of Commissioners, one appointee from among the members of the City-County Council of the consolidated City of Indianapolis-Marion County, and, lastly, one member jointly appointed from board of county commissioners from surrounding counties with a food and beverage tax that is part of the CIB’s revenue. The Board also seats one ex-officio member that historically has been the President and CEO of the Indianapolis Convention & Visitors Association. Since its inception, there have been 7 Presidents, 56 Board Members, and 3 Executive Directors.