Hamilton Co. commissioners green light $185 million renovations for Paycor Stadium
Price tag includes contributions from the team and sizeable loan to the Bengals from the NFL
Price tag includes contributions from the team and sizeable loan to the Bengals from the NFL
Price tag includes contributions from the team and sizeable loan to the Bengals from the NFL
A two-to-one vote on Tuesday cements a mostly united front between Hamilton County's Board of Commissioners and the Cincinnati Bengals.
"I wanted to see good faith out of the Bengals. And I truly believe that they showed some good faith," said Commissioner Stephanie Summerow Dumas.
Summerow Dumas and the commission president, Denise Driehaus, gave the green light to a memorandum of understanding - or MOU - that sets in motion $185 million worth of improvements to Paycor Stadium.
The county, using existing sales tax dollars, will chip in close to $65 million, with the Bengals and NFL each adding $60 million. The Bengals will eventually have to repay the NFL for the amount the league is contributing.
"So that is just an awesome deal," Summerow Dumas said.
The lone no vote was cast by Commissioner Alicia Reece.
She pointed out that an MOU is not what her constituents have been asking for.
Instead, Reece wants a new long-term lease deal that will A: keep the Bengals playing at Paycor for years to come and B: reduce the current lease agreement's burden on taxpayers.
"I'm going to stay hopeful, but we just can't keep giving away all the chips when you're trying to go into a negotiation," Reece said. "I'm just trying to get a win for the taxpayers. Can we get one, one for the taxpayers?"
During and after Tuesday's vote, Driehaus called the MOU a good deal for everyone involved, especially since lease negotiations are ongoing.
"We've not had this kind of participation before. This has all been on the taxpayers in the past," Driehaus said. "I don't want to predict what's going to happen. We're actively negotiating with the Bengals right now. But I do think that this is a good sign and a good signal moving forward into the rest of the lease negotiations."
After Tuesday's vote, the Bengals released the following statement:
The Bengals appreciate Hamilton County's support in passing today's MOU, which is a step toward preserving Paycor Stadium as a valuable asset for the community and the downtown. The Bengals' primary objective has been to keep operating successfully in Paycor Stadium. Today's MOU keeps Paycor Stadium in good shape for fans attending events and continues the effort to build a world-class riverfront for the community. Many good things have happened along the riverfront over the past 25 years, and the team is glad to continue working with Hamilton County to forge a long-term deal that works well for Greater Cincinnati. - Cincinnati Bengals