It looks like things are finally moving in the right direction.
Hamilton County Commissioners decided on a 2-1 vote to approve a memorandum of understanding between the county and the Cincinnati Bengals. This agreement clears the way for taxpayer funds to be used on improvements at Paycor Stadium, per The Cincinnati Enquirer’s Erin Glynn.
The project, in its entirety, is expected to cost $830 million and will be completed over four phases. Hopes are for the upgrades to be completely finished by 2029. The first phase, which the Bengals would completely fund, would include upgrades to lounges on the East and West ends of the stadium, upgraded concessions, concourse beautification, and upgrades to the 132 suites.
The lease agreement was set to expire on June 30, and had the two sides not come to an agreement before that deadline, they could forgo $60 million from the NFL. The first phase is expected to cost $120 million, $64.5 million of which would be financed by a sales tax increase in Hamilton County. The Bengals and the NFL will split the rest.
The projects funded by the county will consist of upgrading escalators and elevators, electrical upgrades, some seat and glass replacement, as well as an upgrade for the Junglevision control room.
“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 said in a statement. “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.”
Commissioners Denise Driehaus and Stephanie Summerow Dumas voted yes, while Alicia Reece voted no, saying taxpayers get the “short end of the stick.”
The two sides have also petitioned the state of Ohio for $350 million from the state budget, which must be finalized by the end of June.