No Dedicated Funds for Paycor Stadium: A New Hope with Cigarette Tax Initiatives
In recent developments surrounding the Ohio Senate budget, there are still no dedicated funds earmarked specifically for the much-anticipated renovations of Paycor Stadium. However, there are potential funding avenues that could open up exciting possibilities for local sports enthusiasts and taxpayers alike.
The Push for Renovations
The Cincinnati Bengals and Hamilton County have jointly requested $350 million from the state budget for critical stadium renovations, estimated to cost a staggering $830 million in total. Although this proposal was part of the discussions, Ohio senators unveiled their version of the state budget on June 3, which did not allocate these necessary funds directly.
The budget does feature a proposal for grants aimed at major sports facilities, with the first allocation of $600 million intended for a new stadium for the Cleveland Browns in Brook Park. This raises the question of whether funds could also be available for the Bengals if a grant application is submitted.
Unclaimed Funds: A Possible Solution
Senator George Lang, a Republican from West Chester Township, estimates that $1.7 billion in unclaimed funds could be available. These funds are currently considered abandoned and could potentially be redirected toward sports infrastructure. However, the budget language explicitly mentions only the Cleveland project, leaving the Bengals’ prospects uncertain. Lang expressed his commitment to supporting the Bengals and FC Cincinnati, emphasizing the importance of treating all teams equitably.
Senator Bill Blessing of Colerain Township shared his disappointment that the budget doesn’t include a more comprehensive funding solution but remains optimistic that leveraging unclaimed funds could lead to better taxpayer protection.
Exploring New Avenues: Cigarette Tax Initiatives
In a twist of fate, the Senate budget also includes provisions allowing Hamilton County to implement a cigarette tax aimed at benefiting a regional arts and culture district. This strategic move can have multi-faceted benefits, extending beyond museums to potentially subsidizing stadium costs, thereby alleviating pressure on county sales and property taxes.
For this initiative to gain traction, at least two out of the three Hamilton County commissioners would need to vote to place the tax on the ballot, followed by approval from local voters.
A Call for Balanced Funding Solutions
Hamilton County Commission President Denise Driehaus is closely monitoring the budget developments, advocating for a balanced funding approach that involves one-third from the county, one-third from the team, and one-third from the state.
The June 3 version of the Senate’s budget is not yet finalized. Once the Senate passes its version, a conference committee comprising members from both the House and Senate will reconcile differences to create a final budget proposal. Ohio Governor Mike DeWine must then sign this budget by June 30, the same day the Bengals must confirm whether they plan to extend their existing lease.
Conclusion
While the prospects for direct funding for Paycor Stadium renovations appear bleak for now, innovative strategies like the cigarette tax could open new financial channels. The upcoming decisions will undoubtedly influence the future of Cincinnati’s beloved teams and the local sports landscape. For stakeholders and fans alike, it’s crucial to stay informed and engaged as this story unfolds.
For more insights on Ohio’s budget and state funding initiatives, check out Ohio Senate Budget Overview.
(Regional politics reporter Erin Glynn can be reached at [email protected], on X or Bluesky).
