FISHERS (April 13, 2015) – Fishers will introduce a proposal Monday for a $76.4 million multi-purpose sports and entertainment project.
The privately owned and operated facility would go near the Lake District at Saxony Village in Fishers, bringing an estimated $110 million in economic impact to the area. According to Mayor Scott Fadness, the project from GK Sports and Entertainment would include a 4,200-seat arena, a 245,000-square-foot fieldhouse and parking garage near 136th Street and Olio Road.
The proposal will be considered during the Monday City Council meeting. It includes:
- A 10-year tax abatement for the arena and parking garage ($200,000 annually)
- Waiver of impact and permit fees for the entire project
- A 20-year lease agreement with the City of Fishers for a portion of the fieldhouse
The lease agreement for the fieldhouse includes the use of 12 courts or turf Monday to Thursday 3 to 9 p.m. (reduced to 3.5 hours/day during summer) and community access to a walking and jogging track six hours a day from Monday through Friday. The $805,000 annual lease payment would come from project property taxes, park impact fees and ticket fees.
The Hamilton County Sports Corp. estimates the economic impact at $110 million per year. In addition, the group said the project would bring nearly $80 million in new assessed value to Saxony Village.
The city will host a series of meetings about the project in the coming weeks:
- April 22 – Crosspoint Church; 13678 Silverstone Drive, 6 p.m.
- April 30 – Launch Fishers; 7 Municipal Drive, Fishers at 6 p.m.
- May 7 – City of Fishers Auditorium; 1 Municipal Drive, Fishers at 6 p.m.
The council expects to vote on the project at the May 18 meeting.