BY LUCY MAY
The Cincinnati Enquirer
Hamilton County commissioners gave their official blessing Thursday to a deal to build a new Reds ballpark on Cincinnati's riverfront, even though one commissioner isn't convinced the county can afford it.
Commissioner John Dowlin, who voted against the stadium memorandum of understanding, or MOU, questioned how much "wiggle room" the county has in its financing plans.
Over the next 20 years, the county could spend more than $1 billion on new homes for the Bengals and Reds, riverfront parking garages and payments of $5 million a year to Cincinnati Public Schools, according to financial projections. That $1 billion figure includes interest payments for the debt issued to build the stadiums and garages.
"I'm disappointed that we voted, predictably, to approve the MOU without knowing how much wiggle room was in there," Mr. Dowlin said. "What do you do if the price comes in higher?"
Commission President Tom Neyer Jr. and Commissioner Bob Bedinghaus voted to approve the MOU, saying they had seen variations of the financing plans for months and were comfortable that the county could afford everything.
The deal calls for building a $235 million ballpark to open in 2003 just west of The Crown at a site known as Baseball on Main or the "Wedge." That price will grow with inflation and does not include money for land acquisition, demolition of Cinergy Field or additional costs that could stem from the complications of the site.
County Commission candidate Marilyn Hyland, who is trying to unseat Mr. Neyer, asked Mr. Neyer to delay his vote until after the election.
Ms. Hyland, who favors the rival Broadway Commons site at Broadway and Reading Road, said the commissioner's race gives voters a chance to say which location they prefer.
But Mr. Neyer said he has voted on 1,600 to 1,700 items since being appointed last year, and "I'm not going to withhold my vote on this any more than I would on any of those. I have a responsibility and a job to do, and I'm excited to do it."
An abbreviated financial analysis that commissioners discussed Thursday showed that commissioners can afford to pay the $1 billion worth of bills as long as the sales tax dedicated to fund the stadium project grows by at least 2 percent each year.
If the sales tax grows 5 percent annually, as it has historically, the county can afford the stadium project, parking and school payments with hundreds of millions to spare, the analysis showed.
But Mr. Dowlin, who also favors Broadway Commons over the riverfront, said the county appears to be cutting it close based on 2 percent growth in the sales tax.
"The real question is how much taxpayers' money should we be spending for this project, particularly when it appears the majority of voters are not in favor of that (riverfront) site," he said.
The county's financial consultant plans to discuss a detailed financial analysis with commissioners Monday.
Portune sees no conflict over petition
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