By Gregory Korte
The Cincinnati Enquirer

Cincinnati City Council could vote Friday on a new package of incentives to keep Convergys Corp. downtown.

On the agenda: a $52 million plan by Councilman David Pepper that would combine tax credits and cash grants.

Pepper, a Democrat, and Republican Chris Monzel called Friday's 8:30 a.m. special session. The two councilmen have, for the moment, wrestled control of the Convergys issue from Mayor Charlie Luken, whose $63.4 million plan was scuttled last week after he couldn't get the votes to push for a roll call.

Pepper and Monzel said they think there are at least five votes for the new plan. But others were skeptical until they could read the fine print. Convergys delivered proposed contract language to city attorneys Tuesday afternoon.

Councilwoman Y. Laketa Cole stopped just short of supporting the new plan, but said, "I am at a much better place than I was last week."

Two key differences:

• The elimination of job retention tax credits, which would have provided a subsidy to Convergys of up to $2.8 million a year out of the city's general fund. That is replaced by $18 million in up-front money from city-issued bonds, which would be paid back over 20 years from a downtown property tax fund.

• The addition of so-called "claw-backs," which would require Convergys to repay the city grants if it ever drops below 500 local employees. Supporters said the new provisions better hold Convergys to its job-creation promises.

Convergys wants to consolidate its 1,450 downtown workers into the Atrium One building, and promises to add another 1,450 jobs over 15 years. Without city assistance - and $144.2 million in state grants, loans and tax credits - Convergys said it would have to look elsewhere to build its world headquarters. Convergys officials, who had set a Thursday deadline, said a vote Friday would be acceptable.

Luken was quiet about the new Pepper plan Tuesday, saying he'd prefer to wait until City Manager Valerie Lemmie analyzes both plans.

The mayor has criticized giving Convergys so much money up front, which he said would hurt the city's ability to develop the riverfront and other downtown projects.

E-mail gkorte@enquirer.com