WHAT SHOULD I BE DOING INSTEAD OF THIS?
 
December 19th, 2012 By German Lopez | News | Posted In: News, Development, Government, Privatization

Music Hall Renovations Coming

City will lease Music Hall to private company for 75 years

music hall

Cincinnati’s Music Hall will be getting renovations, but the project will be much smaller than anticipated. Instead of the previously estimated $165 million, the project, which involves the city leasing the iconic building to the Music Hall Revitalization Company (MHRC) for 75 years, will only cover approximately $95 million.

At a joint press conference Wednesday, Mayor Mark Mallory and Otto Budig, president of MHRC, officially announced the plan, which City Council will take up early next year.

Not many details or a timeline were announced at the press conference, but some information did come to light. The renovations will include more comfortable seating, extra restroom capacity, heating, air conditioning, improved plumbing and new escalator models. During the renovations, Music Hall, home of the Cincinnati Symphony Orchestra, Cincinnati Opera and Cincinnati Ballet, will be closed for an estimated 17 months.

“We will do this in a manner that carries with it the surety that the project will be complete,” Budig said.

“The worst thing we could do is start this project without the natural resources and pledges available.”

On top of the leasing agreement, the city will also help fund the project through tax credits. 

The lease continues the trend of public-private partnerships city government has used to revitalize Over-the-Rhine and downtown Cincinnati in recent years. From the Banks to Washington Park, the city of Cincinnati has pushed to be seen as a more attractive, business-friendly environment.

However, that has come with some push back. The Cincinnati Center City Development Corporation (3CDC) and city have previously faced criticisms from homeless advocates for allegedly discriminatory rules at Washington Park, which were later voted down by the Cincinnati Park Board.

Some public officials have also raised concerns about the city giving away too many of its public assets. The 2013 budget currently relies on a proposal that will privatize Cincinnati’s parking assets, a plan that has faced heavy criticism from Councilman P.G. Sittenfeld and mayoral candidate John Cranley. City Manager Milton Dohoney argues the privatization plan is necessary to avoid 344 layoffs.

 
comments powered by Disqus
 
Close
Close
Close