The entire HQ building was built for less than half that. The AMA already owns the ground. There is no reason to spend that kind of money on an indoor site, IMHO. Nevertheless, here are some reasons that consideration of building a new building might be entertained, in my opinion:

One thing that may create support for a building to house indoor competition is if it were to also house a new museum structure. The current museum is in a reworked building that is marginal. It is currently having roofing problems and it is really too small. Keep in mind that the museum is part of the requirment to maintain the IRS 501 (3) c status of the AMA.

The indoor FF Nats drew less than 50 competitors last year. A building was rented and the entire proposition lost money. Having said that, FF is very much a part of the AMA and must be supported. There are buildings in Muncie that could be rented which are suitable for indoor FF competition. Could these rental fees be better spent on the cost of a new building?

At the same time, indoor RC is growing very quickly. At the AMA convention in Ontairo, and at Toledo, indoor RC demos drew large crowds. Here again, the indoor RC NATS could be held in rented facilities. I think that it is safe to assume that this event will grow in the future. Again, could the rental fees be better spent on the cost of a new building?

When the AMA holds an FAI championship, it must have some place to feed the troops. In this case, a building in Muncie is not acceptable. I needs to be onsite so that such events can be held within a short time after competition for the day is complete. This has necessitated renting a structure (tent) in the case of the C/L World Championships to be held in July. This is an ongoing series of championships that the AMA will be involved in, and as a result, a recurring expense. Cound the rental fees be better spent on the cost of a new buiding?

Doug Holland, the EVP, managed to roll the entire debt of the AMA into a loan based on Indiana law allowing educational bonds to be secured to refinance $4 million dollars, which included the HQ building. IIRC the payments are about $200,000 a year. That was actually in excess of the amount needed, IIRC. Could some similar arrangement be made to service the new debt?

The architect on the first proposal, produced plans for a building that was partly underground, so as not to inhibit the view of the HQ building. Is this necessary? Are all the functional items raised in Joyce's e-mail to Horrace Cain necessary, or are they the pipe-dream of the architect?

Now, in my opinion, this project has not yet been risen to the level of serious consideration. Could it be? Maybe. It it worth looking into? Probably.