Hamilton County officials are about to start negotiating a new lease for Paycor Stadium. The current lease with the Cincinnati Bengals dates back nearly three decades and expires in 2026.
The negotiation will include how to pay for needed repairs to the 20-year-old facility, and how much enhancements should be added.
Tom Gabelman, a private attorney who consults for the county, says a transformed stadium is necessary to meet the needs of the team.
"At the same time, the county can make changes that are necessary to increase the utilization of that stadium so that it becomes a true community asset that can be used 365 [days a year]."
All the repairs and recommended enhancements would cost up to $494 million over 20 years, according to a report commissioned last year. Building an entirely new stadium is estimated to cost up to $2 billion.
REPORT: Paul Brown Stadium needs $494M in maintenance for the next 20 years
The actual cost will depend a lot on what commissioners actually want to include in the renovation.
The estimated $494 million includes structural maintenance and proposed enhancements (including 15% contingencies):
- Architecture: $151,180,139
- MEP and fire protection: $13,058,250
- Structure: $158,894,914
- Technology: $114,698,700
- Food, beverage and retail: $38,089,228
- Vertical transportation: $9,947,500
- Roof and envelope: $7,840,055
- Total: $493,708,785
Commission President Alicia Reece says she wants the public to be part of the negotiation process as much as possible.
"We're bringing it forward so that people can digest and they can participate in this whole process," Reece said Tuesday. "Not just on what do we want to look like, but how much do we have to pay for it? Because while I am a huge fan, there are people who may never go to a game, but will be on the hook because we own this particular asset."
The only public money that goes toward the maintenance and operation of Paul Brown Stadium is a half-cent sales tax passed by voters in 1996, which also funds Great American Ball Park, Cincinnati Public Schools and the property tax rollback. The sales tax does not expire and will go toward stadium debt until at least 2032.
RELATED: Hamilton County homeowners will get a lower stadium tax rebate in 2023
Commissioner Denise Driehaus says the original lease clearly does not benefit taxpayers.
"We need to do better in the upcoming lease," she said. "But I think there is a real opportunity with the relationships we built with the Bengals leadership, and with the community, in trying to understand what everyone desires in the new lease. I think that's a really important place to start."
The architecture firm that conducted the renovation report is also working on a master plan for how to move forward. That plan was expected to be complete by the end of 2022; Gabelman said Tuesday he now expects it to be complete well before the end of 2023.
Learn more below:
Paycor Stadium Renovation Presentation by WVXU News on Scribd
