Tuesday, August 12, 1997
Stadium estimate tops $300M And that doesn't include $30M for land
BY LUCY MAY
The Bengals' new riverfront stadium project - including parking, plaza, practice fields and training facility - likely will cost about $301.5 million even before land costs are added.
The figure marks the first time Hamilton County officials have offered an estimate that tops the $300 million mark.
Officials released a $270 million price when the football stadium lease was signed in May. But they said all along that the $270 million estimate didn't include everything.
The $301.5 million figure includes $10.5 million for practice fields and a training facility, $13.2 million for parking and $7.8 million for the stadium's plaza, Hamilton County Commission President Bob Bedinghaus said Monday.
The preliminary figure includes design fees known as "soft costs." Not included are financing costs, which aren't yet known. The cost of the land for the project also may add at least another $30 million.The county is negotiating now with property owners. The $301.5 million figure is not final, but it's the price county officials are using until an official "guaranteed maximum price" is developed, Mr. Bedinghaus said.
That figure is being developed by the construction manager and will include everything down to the plumbing, carpet grades and shrubs on the plaza, said John Michel, a public works official overseeing the project.
Even without the guaranteed maximum price, work on the stadium project is continuing. Work to move underground utilities on the stadium site will begin next week, said Norm Getz, the county's stadium project manager.
As costs become clearer, county commissioners are determining how best to finance Paul Brown Stadium.
A financial consultant said Monday it would be wise to borrow money now to take advantage of low interest rates.
The county might borrow the total cost of the Bengals project, Mr. Bedinghaus said. That way, county officials could take advantage of low interest rates and let sales tax receipts build up to spend on a new ballpark for the Cincinnati Reds, he said.
The Cincinnati Enquirer
Previous stories
Stadium land cost a big if July 21, 1997
Who are the landowners? July 21, 1997
Stadium meeting tone upbeat July 11, 1997
City threatens to withhold land July 10, 1997
Disputed county deal mirrors old city pact July 9, 1997
Mayor rips county's deal with Bengals July 4, 1997
COA complaints take a back seat June 5, 1997
Next hurdle: Stadium land May 31, 1997
Bengals won't sell naming rights May 31, 1997
WELCOME TO PAUL BROWN STADIUM May 30, 1997
NEXT GENERATION OF BROWNS MAKE THE DEAL May 30, 1997
It's goal to go for stadium May 29, 1997
Details remain before construction begins May 29, 1997
Stadium victory at hand May 26, 1997
Terms of the deal May 26, 1997
Regional effort fills seats May 25, 1997
Bengals reach sales goal May 24, 1997
Hold on: Shirey wants to boost admissions tax May 24, 1997
Brown, county race deadline May 21, 1997
NFL committee OK's lease May 20, 1997
Ticket tax increase gains steam May 20, 1997
Stadium team tries to trim $48M May 6, 1997
Bengals ask lease by May 20 April 30, 1997
Stadium redesign well received April 25, 1997
Bengals leery of Wedge April 9, 1997
Stadium price tag growing April 3,1997Stadium gaining ground? April 2,1997
Bengals won't sign till tax dies March 25,1997
Mike Brown's 'Letter to the Editor' March 25, 1997
Bengals balk at tax plan March 24,1997
Bengals want county blitz on seat licenses March 21,1997
City balks at size of stadium March 15,1997
Seat sales on target for team to stay Feb. 19,1997
'The Jungle' moving to Central Ave. Feb. 14, 1997
Stadium site to be announced this week Published Feb. 9, 1997
Seat license sales pass $20M goal Published Feb. 7, 1997
Consultants favor Riverfront West Published Dec. 20, 1996
Seat licenses $300 to $1,500 Published Dec. 18, 1996
Rules, procedure for buying seat licenses Published Dec. 18, 1996
Designs draw oohs and ahhs Published Dec. 17, 1996
Architect's drawings revealed Published Dec. 8, 1996
Site selection is a decision of a lifetime Published Dec. 2, 1996