It is a step closer to demolishing the now-closed Millennium Hotel and building a new convention center hotel in its place.
The Port of Greater Cincinnati Development Authority's board Wednesday, in a unanimous vote, approved $59 million in issued bonds backed by Hamilton County's share of the local hotel tax.
The Convention Facilities Authority still has to approve the use of the bonds, and will meet this month.
The Port Authority expects to close on the property by Feb. 14.
CEO Laura Brunner says work will begin in March and demolition of the Millennium, expected to take a year, won't begin until the 2nd quarter of 2020.