Non-profit proposes 99-year lease on Music Hall

CINCINNATI - A non-profit organization is telling Cincinnati City Council it has a plan to save Music Hall.

But as of Monday, no city leaders have announced support for the Music Hall Revitalization Corporation 's proposal.

On Friday, the MHRC told city council it wants to lease Music Hall through a 99-year renewable lease. The group wants the City's Finance and Budget Committee to review the proposal at Monday's regular meeting. The MHRC says the revitalization of the 134-year-old hall can't happen without its proposed lease agreement. 

The MHRC says its proposal will allow the $165 million revitalization project for Music Hall. It's also asking for the city to commit $10 million to the project.

"This proposed agreement allows this project to move forward, which is vital to the future of Music Hall," said MHRC President and Board Chair Otto Budig, Jr. 

The Cincinnati Ballet, Cincinnati Opera and Cincinnati Symphony, among other groups, have announced their support for the plan.

No city leader has announced their support for the proposal. Mayor Mark Mallory has not voiced his opinion about the plan.

Budig says his group's proposal "supports the mayor's position that the city should retain ownership of Music Hall and includes provisions to protect necessary funds for the project through both new market and historic tax credits."

The proposal isn't on Monday's Finance and Budget Committee agenda. A representative for Vice Mayor Roxanne Qualls told 9 News it's unclear if it will be addressed.

Stay with 9 News and WCPO.com for updates on this story.

 

 
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