CPS votes to approve resolution to exchange land with FC Cincinnati for stadium deal
CINCINNATI (WKRC) - The Cincinnati Public School board votes to approve the land swap deal with FC Cincinnati on Tuesday night.
That brings the soccer club one step closer to building a stadium in the West End.
"On behalf of FC Cincinnati, I want to thank the Cincinnati Public School Board for their unanimous vote in support of the land exchange and partnership with FC Cincinnati," said FC Cincinnati President and General Manager Jeff Berding. "We look forward to working with the Board and the CPS Administration led by Superintendent Laura Mitchell to develop a new and improved Stargel Stadium and then the FCC stadium that will bring positive development to the West End and benefits for CPS students and families."
The meeting started at 6 p.m. Tuesday. Three items on the agenda included the Pledge of Allegiance, public comment and then a vote on the land swap where Stargel Stadium sits in the West End.
All of this comes days after the fourth proposal from FC Cincinnati with backing from a number of Cincinnati City Council members.
The proposal will see FC Cincinnati pay $10 million to rebuild a new Stargel Stadium on land south of Ezzard Charles between John and Cutter Streets.
FC Cincinnati will also partner with CPS to expand academic internships and employment opportunities for students at Taft High School, plus FC Cincinnati will be funding $100,000 a year to West End community groups.
And the big kicker for CPS is that FC Cincinnati will pay Cincinnati Public Schools property taxes, equaling 25 percent of the final property value, which according to a tentative agreement with CPS is estimated at $175 million the first year it's built. All that is a deal that board member Mike Moroski is in support of.
"For myself, I feel good about these terms. They certainly are the best we've seen. I'm really proud of us, all seven of us. I don't know if anyone expected the Cincinnati Public School Board to stand this firm, this long and actually get taxes from a developer which is something the City of Cincinnati doesn't always do on our behalf. So it's nice to be able to have a say in our own destiny, as it were, and I think we did a good job," said Moroski.
There's no hard timeline for a decision from Major League Soccer, but the owners are set to meet on April 17th.
It is known that Nashville's team is already in and that there is one spot left and comes down between Cincinnati, Sacramento and Detroit.