Mayor Greg Ballard has just announced that he's postponing his planned economic development trip to Brazil. Ballard had planned to head to South America in early May, but has decided against the trip in light of the unresolved issues with the Indianapolis Capitol Improvements Board (CIB). In a statement just released, Ballard said, "The negotiations concerning the CIB are delicate and important. Consequently, I have decided to postpone my economic development trip to Brazil so I can devote my full attention to preserving the downtown economy." The announcement comes following multiple reports that the Indianapolis Colts have no plans to chip in and help save the CIB's shortfall of nearly $50 million, which must have come as a surprise to the mayor. Last week he was hoping for at least $5 million from the team to help shore up the deficit. According to Carolin Requiz Smith, Director of the Mayor's Office of International & Cultural Affairs, Mayor Ballard planned his Brazil trip as part of his 2009 international economic development agenda. "The objective of the Brazil trip is to create partnerships with Brazilian states and cities to help make Indianapolis a leader in alterative, renewable, and sustainable energy research, as well as a hub for alternative energy production and workforce development," said Requiz Smith. According to the mayor's office, while the trip is postponed, Ballard is still hoping to undertake his economic development trip to South America later this year.