Commissioners approve initial contracts and note sale to fund Paycor Stadium renovations

Hamilton County commissioners approved two early contracts tied to a multi-phase renovation of Paycor Stadium and authorized the first tranche of financing to begin work.

Contracts and scope: The board approved a $2.2 million agreement with AVI Systems (doing business as Forte) for the audio component of the stadium's "Jungle Vision" audio-visual system and a $3.65 million agreement with United Electric and Grebach for general construction and electrical work. Administration characterized these as early components of a larger renovation program estimated at about $25 million for the main portion and a total program cost cited during the meeting at about $470 million, of which approximately $350 million is county-funded.

Financing: The administration reported it had been authorized in November to sell approximately $200 million in notes as the first tranche and sought final allocation of $211.5 million in proceeds at this meeting, with about $207 million allocated to capital renovation projects. Administrator Jeff Alulo said the note sale is the first tranche and may be followed by another tranche and later municipal bond refinancing.

Votes and dissent: The board voted to approve the early contracts and the note allocation; Commissioner Alicia Reese recorded an abstention on the early-contract motion and again on the note allocation vote. Administration said the stadium-related funds come from a Riverfront Stadium sales-tax fund and are separate from the county's general fund.

Next steps: Administration said the larger components of the stadium renovation will be brought forward in future meetings as additional contract awards and financing steps are finalized.