(Cincinnati, OH) - As FC Cincinnati zeroes in on a spot for a new $250 million soccer stadium, plans for the site in the West End could be in jeopardy.
Cincinnati school board members are taking a hard line on FC Cincinnati's offer to pay property taxes on a proposed West End stadium.
The board criticized the soccer team's offer yesterday, saying that's a small fraction of what a 250-million-dollar stadium would be worth.
FC Cincinnati would pay $100,000 to $500,000 a year in property taxes through 2031 on the stadium before tying future payouts to profits.
The President of the soccer club says the payments they have proposed are much more than what the school district collects now.
They have also proposed other incentives to make the deal more attractive to the school district.
Last month, the team announced a proposal to build its $250 million stadium project in the West End, on the current Stargel Stadium site and build a new, $10 million high school stadium for Taft High school next door.
No word yet on when the school board might put the plan to a vote.
Think of it this way - the more people paying into the pot, the less we all have to pay. If FCC had an abated property they'd pay $2.8 million or so - unabated, over $3 million. Exempted? $0. If we had our fair share then this could be a win/win. otherwise, it's not. (2)— Mike Moroski (@mike_moroski) March 13, 2018
As I said last evening. . .think of it like "unrestricted" dollars and "restricted" dollars. Tax money is paid to us so that we (board & admin & teachers), as professionals, can allocate money so as to best educate kids. Trust us. We do a real good job. (4)— Mike Moroski (@mike_moroski) March 13, 2018
. . .on PAPER, Cincinnati is a WEALTHY district. Sure, we have more children growing up in poverty than ANY other Ohio town, but we ALSO have more Fortune 500 companies per capita than any city anywhere. So, the median shows us as wealthy, Result? We get less money than. . . (6)— Mike Moroski (@mike_moroski) March 13, 2018
We are here to make sure all of our kids get the best education in the world. That's it. Lots of things come across our plate and we try to do the best we can with all of these things. I have appreciated hearing from so many people throughout this process. (8)— Mike Moroski (@mike_moroski) March 13, 2018