Colts Still in Race to L.A.

LKelley67 · 02-16-2005, 10:18 AM

The city's bid to finance a stadium for the Colts with taxes on new slot machines suffered a major setback Monday night when a House committee rejected a bill to authorize 5,000 new slots at the state's two horse tracks.

The vote by the Public Policy and Veterans Affairs Committee leaves Mayor Bart Peterson with no obvious way to finance the $500 million, retractable-roof stadium he proposed in December.

The mayor has consistently rejected calls to pay for the stadium partly with tax increases, and argues gambling is the best source for the $46 million annually he needs for a new stadium.

http://www.indystar.com/articles/2/222475-1832-196.html

02-16-2005, 10:18 AM	#1
LKelley67 1000 Posts + Join Date: Jan 2005 Location: baton rouge Posts: 2,540	Colts Still in Race to L.A. The city's bid to finance a stadium for the Colts with taxes on new slot machines suffered a major setback Monday night when a House committee rejected a bill to authorize 5,000 new slots at the state's two horse tracks. The vote by the Public Policy and Veterans Affairs Committee leaves Mayor Bart Peterson with no obvious way to finance the $500 million, retractable-roof stadium he proposed in December. The mayor has consistently rejected calls to pay for the stadium partly with tax increases, and argues gambling is the best source for the $46 million annually he needs for a new stadium. http://www.indystar.com/articles/2/222475-1832-196.html