CINCINNATI — The state senator who introduced a new funding source for sports stadiums said a half-dozen teams have already expressed interest in a $1.1 billion grant pool that will be available after July if it ultimately becomes part of Ohio’s next two-year budget.
But Sen. Jerry Cirino (R-Kirtland) said teams should keep in mind that lawmakers won’t be interested in projects that aren’t “ready for prime time.”
Cirino’s comments came two days after he introduced a proposal to fund stadium projects with $1.7 billion in unclaimed funds from the state of Ohio. This abandoned money may come from bank accounts, uncashed checks or rent or utility deposits, whose rightful owner cannot be located.
Under the Senate plan, $600 million of that unclaimed money will go to the Cleveland Browns for a new domed stadium as part of a budget authorization that is included in both the House and Senate versions of the budget.
The plan caught many by surprise and led to questions about how the remaining $1.1 billion will be distributed. Cirino said that it will happen the same way the Browns deal got done, with teams seeking individual appropriations from state lawmakers.
“We have to look at how much local content is going to be in the financing of the project in total,” Cirino said. “What is the size of the project? What are the owners putting in? Are there other local taxes that are going to be used to contribute to this? Are there, in fact, any incremental taxes to the state that we would look at? Those are all factors that are going to be taken into consideration, as we evaluate each project on its own merits.”
Cirino didn’t have much to say about the merits of the Cincinnati Bengals’ request for the state to cover $350 million of its planned $830 million renovation of Paycor Stadium, except that he was under the impression that the deal wasn’t finished.
“We don’t really want projects that are thought about or talked about,” Cirino said. “We want projects that are tied up and buttoned down … we don’t want any contingencies here. We want clean deals to be brought to us that are ready to go.”
WATCH: Where do Paycor Stadium renovations fit into the new plan?
Hamilton County Commission President Denise Driehaus was optimistic that the final state budget would include funding for Paycor Stadium renovations, after meeting with statehouse leaders.
“We were not left out, it is simply a different mechanism. The funding mechanism being used for Cuyahoga County does not work for Hamilton County, so we did not want to be part of a funding mechanism for them that simply does not work for us,” Driehaus said. “This other piece, this $1.1 billion that remains, and that is what is in response to the request that we made.”
She gave that update at a commission meeting on Thursday, where her colleagues refused to approve $1.5 million for six new club-level escalators at Paycor Stadium.
County Administrator Jeff Aluotto wanted to order steel for the project now, to ensure it arrives in time to start construction next year. But two commissioners were reluctant to spend new money until a new deal with the Bengals is finalized.
“For me, it's a principal thing going into a negotiation. We already have a bad lease. I don’t want to add on any additional appetizers before we get the deal done,” said Commissioner Alicia Reece. “The timing is not good for me, and I won’t be able to support it.”
Commissioner Stephanie Summerow Dumas delayed the vote until next week, hoping for more information on the status of negotiations with the Bengals.
“I’m feeling a little uncomfortable about voting for this right now,” Dumas said.
Reece also signaled that she wouldn’t support any additional stadium funding that wasn’t already mandated by the current lease, for the time being.
“I cannot support this and can’t support anything that is not in the current lease until we get a new deal,” Reece said. “I think that’s important because we are in some pretty tight negotiations right now.”
The Bengals signed a memorandum of understanding with the county in April that calls for a “comprehensive agreement” to be in place by June 30. If it’s not, the team can walk away from its promise to spend $120 million on the project’s first phase. It could also exercise its option to extend its current lease for an additional two years.
Whether that uncertainty could prevent the Paycor project from being funded, Cirino wouldn’t say.
“We haven’t seen a hard request, number one. Number two, if they’re asking for $300 million, I certainly can’t say that’s what they would get because we have to look at the parameters here.”
Cirino also offered some comments on FC Cincinnati’s request for stadium funding, which asked House members to fund 30% of a planned $332 million mixed-use project next to TQL Stadium.
“I have not met with them and I don’t know very much about that particular project,” said Cirino. “If there’s mixed use along with a sports facility, as in what the Browns are looking to do, I can’t imagine why that would be eliminated.”
