Thursday, January 27, 2000
Plan to salvage FWW deck surfaces
Developers, parks could pay for it
BY ROBERT ANGLEN
The Cincinnati Enquirer
A $5 million offer from a group of Cincinnati developers has kept the lid on Fort Washington Way at least until Monday.
Wednesday was supposed to be the last day for City Council to raise $10 million for pilings that would support a three-block cover over the roadway.
But council members said the new offer — which would give two Cincinnati developers and the Greater Cincinnati Building Trades Council control of the riverfront Banks project — proves there is interest in helping the city.
And Wednesday night, members of the Hamilton County Park District Board called for a 5 p.m. emergency meeting today about helping to pick up the $10 million tab.
“I think the question we can answer today is that there is interest,” said Councilman Todd Portune, who helped bring in the private offer and requested the park board meeting. “Let's hold onto this for a week and see if there are other partners out there.”
Facing rejections from the state and Hamilton County commissioners for financial assistance, council last week voted not to pay for the project solely out of its general fund. Council members said the cost was too much for Cincinnati taxpayers, especially when city departments are facing budget cuts.
The support structures literally would be the foundation for the $248 million Banks project, which envisions a riverfront with houses, businesses, shops and restaurants between two new stadiums.
The foundation would support a three-block-long park above Fort Washington Way, linking the business district with the riverfront.
“The likelihood of this happening five years down the road is next to nothing,” Mr. Portune said. “We have this chance. This is it.”
While the park is still part of the Banks proposal, putting in the support structure now while construction is under way would save about $14 million. And Mr. Portune said it would be much harder to do construction if the city waited until after construction is done and the road is reopened to its full capacity.
Problems are twofold, City Manager John Shirey said:
• The work needs to begin immediately for the city to finish Fort Washington Way construction by an August deadline.
• Cranes needed to do the work won't be on-site after Monday, unless council gives votes to go ahead.
“I would still go ahead with it, because I think it is so important,” Mr. Portune said.
He said the city has two options it didn't have last week. One from the private developers and another from the Hamilton County Park District.
The district — which is separate from county commissioners — has resources that board members might be willing to commit to the project, because it is essentially a regional park, Mr. Portune said.
Other council members
were not so optimistic.
“We have found no new money tree,” Councilman Paul Booth said.
“It's an excellent idea, but the dollars just aren't there.”
Councilwoman Alicia Reece, irked with a succession of now-or-never proposals, suggested the deal wouldn't be lost if it were delayed.
Although council members agreed to a special 4 p.m. Monday meeting, several questioned whether a deal could be negotiated.
“I'm not comfortable with it,” Councilman Pat DeWine said of the offer of $5 million in exchange for first development rights of the Banks.
In their “letter of intent to fund the infrastructure for Fort Washington Way,” developers from Belvedere Corp., Towne Properties and the Building Trades Council offer to provide 50 percent of the financing for the supports, up to $5 million.
Belvedere owns the Carew Tower, Towne is a development firm that helped build Fountain Place, and the Building Trades Council is an umbrella organization representing several construction and builders unions.
“In exchange, the group would act as preferred developer for the area bounded by Third Street on the north, Elm Street on the west, the Ohio River on the south and Main Street on the east,” the letter says.
Councilman Jim Tarbell shook his head, saying “no way” would he agree to make that deal.
Banks development is planned to be shared between city officials and members of the riverfront advisory commission who helped to design the project.
“The $5 million is a good idea, but ... you don't want to do the wrong thing for the right reasons,” commission Chair Jack Rouse said Wednesday, adding that a development process has been designed to ensure the best possible development.
“More important than $5 million is the process,” he said.
Cautioning the council to be careful, Mr. Rouse agreed to help in negotiations during the next five days.
He said the financial future of the city could hinge on the Banks development.
“You asked 16 people what was the best thing for the city to do. We told you,” he said of the Banks proposal.
“Of course, we're going to do every damn thing we can to help you.”
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