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Council introduces appropriation using Hamilton County innkeepers tax for arena bond repayment; public hearing set
Summary
Deputy financial officer Tom McDonald introduced an ordinance to appropriate Noblesville's share of Hamilton County innkeepers tax revenue (about $670,000 in 2025) to pay a portion of Innovation Mile arena bond repayment; the council set a public hearing for the next regular meeting by an 8–0 hand vote.
Deputy Financial Officer Tom McDonald told the Noblesville Common Council on Nov. 18 that an ordinance (44-11-25) would appropriate the city's dedicated share of Hamilton County innkeepers tax revenue to pay part of the bond repayment for the Innovation Mile arena.
McDonald said the county’s change in state law allowing the county to increase the innkeepers tax from 5% to 8% created a new revenue stream; the county is dedicating two-thirds of the Best Investment Program allocation to equal shares for the county’s four cities, with the city’s dedicated share for 2025 amounting to "a little less than $670,000." He said the county-designated funds will be used for tourism capital improvements and that the city has an agreement to dedicate its share toward arena bond repayment.
Councilmember Davis moved to establish a public hearing on ordinance 44-11-25 at the next regular meeting; the motion was seconded and approved by hand vote, 8–0.
What it means: The ordinance, if later adopted after the public hearing, would appropriate a one-time 2025 allocation of the county innkeepers tax to help service arena debt; McDonald said it is a 2025 appropriation and not built into the 2026 budget adopted last month.
