Hamilton County approves MOU with Cincinnati Bengals to begin Paycor Stadium phase 1 work

Hamilton CountyBoard of County Commissioners voted 2-1 April 29 to approve a memorandum of understanding with the Cincinnati Bengals that authorizes planning and limited preconstruction activity for phase 1 of renovations at Paycor Stadium.

County administrator Jeff Aluto told commissioners the MOUformalizes ongoing lease negotiations with the team, defines elements of the phase 1 scope and allows early procurement so the project can proceed in 2026. "This MOU contains no new taxes," Aluto said during his presentation.

The MOU outlines a phase 1 capital package in which the team will invest about $120,000,000 in stadium upgrades, $60,000,000 of that expected to come from an NFL loan the team would repay. County staff said Hamilton County would fund and complete about $34,500,000 in projects that the team needs finished to unlock the NFL funding. County work described in the presentation includes escalator replacement in the East/West club lounges, electrical and code upgrades, suite glazing and a technical-control room replacement for the stadium audiovisual system (referred to in the presentation as "Jungle Vision"). Aluto estimated roughly $3,000,000 in early county procurement for escalator parts to meet long lead times.

Aluto and other staff emphasized timing: the NFL loan and team work are tied to a 2026 construction window, and delaying procurement could jeopardize the NFL money and the planned schedule. The countyalso has $7.5 million in the 2025 capital-improvement plan intended to refurbish other stadium escalators not included in the phase 1 county scope.

Commission discussion was robust and divided. Supporters said the MOU brings an unprecedented mix of outside funding and prevents taxpayers from bearing the entire cost. One commissioner noted this was the first time the NFL had committed loan funds for the countyand called the package a "new look" for the county because the financial stack includes the team, the NFL and the state in addition to county dollars.

Opponents repeatedly said the boardshould prioritize a new long-term lease before committing additional county dollars. Commissioner Reese, who voted no, said the county has repeatedly advanced money without securing lease concessions and said she could not support the MOU "on behalf of the taxpayers" at this time. Several speakers detailed a longstanding concern that the existing lease leaves too much fiscal burden on taxpayers; other commissioners said the MOU includes an out clause if the parties cannot reach a long-term deal by the boardor another negotiated date.

The motion approved by the board authorized the county to proceed with the MOU and related agreements for phase 1 planning and certain early procurement activities. The board recorded the roll call as: Commissioner Driehaus yes; Commissioner Summer Adoomis yes; Commissioner Reese no. The county said signed contracts and further lease documents will return to the board for follow-up approval as negotiations continue.

Details and clarifications provided during the meeting

- Team contribution (phase 1): approximately $120,000,000; staff said $60,000,000 of that is expected to be an NFL loan the team would repay (presentation by county administrator Jeff Aluto).

- County contribution (phase 1 projects): approximately $34,500,000, including early procurement for escalator parts (~$3,000,000) and replacement/renovation of the stadium audio-visual technical control room.

- 2025 CIP: $7,500,000 was placed in the countycapital-improvement budget to refurbish other stadium escalators that are outside the phase 1 county scope.

- Total program estimate discussed by commissioners for full modernization: about $830,000,000 (presented as the broader multi-phase program cost, not the phase 1 amount).

- Timing: staff repeatedly said early procurement and continued planning in 2025 are needed to preserve the 2026 construction schedule and the NFL loan eligibility; the MOU includes provisions to extend or terminate project commitments if a lease is not reached by negotiated trigger dates.

What the vote does and does not do

- The resolution approved the MOU and related preliminary work for phase 1. The board and staff said the MOU does not alter the current lease; it is intended to parallel lease negotiations and to preserve timing for state and NFL funding. County staff repeatedly said the countyfinancial model for the MOU contains "no new taxes."

Next steps

County staff said they will continue lease negotiations with outside advisors, present resulting term sheets or lease documents to the board for approval, and return to the board with individual contracts for the phase 1 county-funded work as procurement and design advance. Staff also said they would continue state-level outreach to secure the state's participation in the larger financing stack. The MOU includes an exit mechanism if long-term agreements cannot be reached by the parties on an agreed schedule.