Hamilton County officials on Thursday scored a $60 million state funding commitment for the new Bengals stadium, several million dollars more than they had budgeted.
The Ohio Arts & Sports Facilities Commission approved a resolution setting the maximum state share for football at $60,378,237. The governor and Ohio General Assembly will determine how much of that money the county gets, said Kathleen Fox, the commission's executive director.
In a private meeting with Hamilton County Commissioner Bob Bedinghaus, Gov. George Voinovich reiterated his commitment to making sure Hamilton County gets the money the state has pledged, Mr. Bedinghaus said.
''It went off without a hitch,'' Mr. Bedinghaus said, adding that the county should receive the first $15 million in state funding in the coming weeks.
The state funding is an important part of the county's financing plan for the Bengals stadium and the new Reds ballpark. Without state funding, the county would have to re-evaluate its commitments to riverfront parking and the Reds ballpark to see what the county could afford, officials have said.
The county has built its budget around getting a total of $81 million from the state for both projects. That included about $50 million for the Bengals stadium, riverfront parking and roadwork. Some county officials have been nervous about the state funding because the unresolved state school funding issue has made discussion of money for stadium projects politically unpopular.
But Mr. Bedinghaus said he's confident Senate President Richard Finan, R-Evendale, will be a strong advocate for the county when the debate begins.
Cleveland needs state money for its football stadium project quickly, and state officials are working on a deal to guarantee that city its money.
Mr. Voinovich's administration is seeking approval of a $21.7 million, low-interest state loan to help Cleveland finish construction of a stadium for a new Browns team.
While some Cincinnati insiders worry such a loan could make it harder for Hamilton County to get the rest of its money, commissioners are confident the state will come through.
''It's probably a little positive for us because it just reinforces the state's commitment,'' Mr. Bedinghaus said. ''We're working hand in hand at this point, Hamilton County and Cleveland.''
Added Commissioner John Dowlin, ''I am hopeful and expecting the state will loan Cleveland money, and, that being done, we'll get ours as well.''
Because the county's deal with the Reds to build a new riverfront stadium still is tentative, the Arts & Sports Facilities Commission has not set a maximum state share for the new ballpark.
The cost of the football stadium, the Reds ballpark and parking garages and roadwork is expected to be $848 million before interest payments are included, according to county estimates.
Adding estimated interest payments on the 30-year debt issued to build the facilities brings that total up to $1.5 billion.
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