NOBLESVILLE, Ind. (WISH) — The Noblesville Common Council approved an agreement for a $15 million youth sports facility Tuesday evening.
The agreement gives Klipsch-Card Facilities LLC the go-ahead to build the Noblesville Fieldhouse.
Plans for the 130,000-square-foot facility were initially announced late last month.
To fund the multimillion-dollar facility, both sides agreed to a public-private financial deal, which includes:
- $300,000 annually in property tax for 20 years.
- $250,000 annually from the Corporate Campus East TIF for 20 years.
- Sell 10 acres of land for $500,000 — just five percent of the total Finch Creek Park property of 203 acres.
- Klipsch-Card is responsible for renting facility 100 percent of the time.
The new terms of the financial portion of the deal removes the city’s $300,000 annual commitment.
Noblesville Mayor John Ditslear was glad to get a deal done that works for both sides.
“This is an exciting day for the City of Noblesville. I appreciate the vision of the Noblesville Common Council members to address a need that benefits our community’s youth sports clubs and the positive impact this project will have for our local businesses. I also want to thank our partners at Klipsch-Card Athletic Facilities LLC for working with us to create a state-of-the-art facility like the Noblesville Fieldhouse. We can’t wait to get started on Finch Creek Park and the Fieldhouse and what opportunities and experiences it will bring to the east side of our city.”
Per the agreement, Klipsch-Card will be responsible for paying all capital, operating and maintenance. A tax abatement is not included in the deal.
The facility will be a part of Finch Creek Park, will be completed in phases and ground is expected to be broken on the facility in the spring of 2017.