jjakq27 Posted December 2, 2010 Report Share Posted December 2, 2010 Enquirer arrticle[b]http://news.cincinnati.com/article/20101201/NEWS0108/312010054/County-teams-sign-stadium-deal/>http://www.bengals.com/news/article-1/Ocho-Payton-fantasy-TO-ill-Roy-J-Joe-back-Bengals-commit-more-than-10M-to-county/2305f2ee-c1b4-4f2b-a8d6-8d5f3eb76dbaWith Hamilton County staring at a midnight deadline to set its 2011 property tax rate, the Bengals committed more than $10 million Wednesday to the county's plan to stabilize a deficit. As part of the agreement to build PBS and Great American Ball Park in 1996, county property owners get a $52 credit for every $100,000 value of their home. That money comes out of the stadium fund, which The Cincinnati Enquirer reports has a "predicted deficit of $16 million" in 2011 and $130 million over five years. The Bengals released a statement saying the $10 million figure includes $8 million in new rent and a $2.225 million guarantee of future revenues from other events. Also in the deal is the possibility of adding 10 more years to the Bengals lease "through additions to the existing term options currently in place," the statement said."The Bengals are pleased that today’s agreement does not impose any new charges or taxes on fans," it said. "The Bengals hope that today’s steps will serve the public interest by helping to stabilize the County’s financial picture. The Bengals further hope that it serves as the basis for a more positive relationship between the two parties going forward." Quote Link to comment Share on other sites More sharing options...
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