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CINCINNATI BUSINESSES SUPPORT STADIUM PLANS
Published September 14, 1994
Cincinnati business and community leaders are voicing strong support and financial interest for redesigning Riverfront Stadium and building a new facility for either the Bengals or Reds, according to this morning's CINCINNATI ENQUIRER. PNC Bank President and CEO Ralph Michael said "we are willing to buy luxury boxes, even if it is required at both places," and Cincinnati-based Proctor & Gamble's Chair Ed Artzt stated his own company support for stadium plans. Small business leaders also voiced interest in skyboxes and club seating. Such financial commitments should offset the estimated $200M for construction. City officials said local companies should participate as "corporate good citizens" and to attract prospective employees with pro sports teams. The regional task force formed earlier this year to assess the project also hopes to solicit financing through local and state tax dollars, as Cleveland did for its $425M Gateway project. City officials might also approach officials across the river in MY about contributing to the project (Richard Green, CINCINNATI ENQUIRER, 9/14). HIDDEN COSTS: In a related column, Tom Lang writes "there is no repair fairy godmother" and an endowment or "infrastructure" fund would offset future maintenance costs and "might even force prudent design and material changes in the original construction" (CINCINNATI ENQUIRER, 9/14).