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Committee advances framework for $50 million city loan, tax abatements to support convention‑center hotel
Summary
The Budget, Finance & Government Committee advanced ordinances that would enable a $50 million city loan plus property‑tax and transit‑occupancy tax abatements and expanded bond scope to subsidize a downtown convention‑center hotel and garage renovation; developers and city staff said the package combines multiple local and state subsidies and contains MBE/WBE and union hiring goals.
The Cincinnati City Council Budget, Finance & Government Committee on Monday advanced a package of ordinances that would clear the way for public subsidies supporting a proposed convention‑center hotel and renovation of a nearby garage.
Assistant City Manager Billy Weber told the committee the city portion of the subsidy package centers on a proposed $50,000,000 loan. That amount, he said, would be made up of $10,000,000 in realized savings from the convention‑center project and $40,000,000 the council previously authorized for debt issuance. The package also relies on property‑tax and transit‑occupancy tax abatements joined with a community authority and a port‑authority bond issuance to back additional subsidy.
Reid Scott of Portman Holdings, the hotel developer, described early site work and called the project ‘‘transformational’’ for the Fountain/Convention District. A 3CDC representative said the district has seen roughly $1.3 billion in recent investment and that the convention‑center project itself cost about $264 million.
Council members asked how the proposal affects community access and local hiring. Weber said the administration is seeking to repeal an older booking ordinance from the 1990s to gain more flexibility in scheduling higher‑impact events; the repeal, he said, would not preclude consumer shows but would remove some historic date constraints. Weber and the developer also described contracting and workforce goals: the convention center project reported 22.5% MBE and 13.7% WBE participation and 61% union labor, and the development agreement includes a 60% union hiring goal for the hotel (with an aspirational 70%). The administration said it is working with JobsOhio and contractors on local‑hiring strategies.
After the presentation and questions, Chair placed agenda items 3–7 (which cover expanding the scope of certain economic development revenue bonds, authorizing the development agreement for the $50 million loan, transit occupancy tax abatement, real‑estate approvals and a repeal of the older booking ordinance) on the passage agenda for full council consideration.
Next steps: the ordinances will return to the full council as legislative items; the administration said the Port Authority will support a public bond issuance to provide part of the subsidy.
(Reporting note: direct quotes and figures above are drawn from the committee presentation and public remarks.)
