Cincinnati BusinessLeaders Want New Arena In Town [Video]

The present 49-year-old building is outdated, they leaders claim.

Cincinnati and Hamilton County, Ohio officials want to build an arena somewhere in the Cincinnati area and the backers of building an arena claim that they don’t need a National Basketball Association or a National Hockey League franchise as an anchor tenant. The arena would do well with NCAA Men’s and Women’s Basketball Tournaments and Beyoncé concerts along with ice shows and wrestling matches and political conventions. Cincinnati is not really on the NBA radar for an expansion franchise although the NHL said that there was an expression of interest from Cincinnati arena backers about placing a team in the western Ohio city. The initial cost of building a Cincinnati arena seems rather low, somewhere between $550 million to $650 million. Taxpayers could be on the hook for about 70 percent of that money with the rest coming from private funding. The public money could come from tax increment financing, …