By Kevin Aldridge
Enquirer staff writer

DOWNTOWN - Cincinnati City Council learned Monday that the city might be able to shed the responsibility of managing Over-the-Rhine's Findlay Market, but not necessarily the cost of operating it.

Council approved a master plan in 1995 that called for the city to turn over management of Findlay Market - which it owns - to a private, nonprofit agency. That agency, the Corporation for Findlay Market, was formed in 2001 and is poised to take over management when a substantial portion of the $17 million in renovations is completed this month.

Many council members had hoped the agency could sustain itself with revenues from Findlay Market operations. But council's finance committee learned Monday that the city would need to subsidize almost $1 million in operating shortfalls over the next year and a half to help the corporation get on its feet.

Assistant City Manager Rashad Young outlined the need for a subsidy of $332,000 for the remainder of 2004 and $665,000 for 2005. The 2005 subsidy would be recommended as part of the 2005-06 budget process, Young said.

Young projected that the city may have to subsidize the Corporation for Findlay Market through 2007. The city expects a $10.5 million budget deficit next year and a $71 million shortfall in 2008.

Young said the "minimal" city operation of Findlay Market is estimated at more than $600,000 a year.

Councilman John Cranley observed that private markets such as the Ridge Market in Pleasant Ridge don't get the same treatment.

"Obviously, Findlay Market is a unique asset to the city," Cranley said. "But it's just not fair. We need to reduce the city subsidy as quickly as possible."

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Email kaldridge@enquirer.com