INCENTIVES

INCENTIVES
Latest arena proposal
Details of incentives the city is willing to provide to Global Entertainment Corp., Phoenix, to build an arena downtown, contingent on city, state and federal approvals:
A grant of up to $7 million of the city's $25 million in federal funds.
Public utility grants of up to $2 million.
A commitment to pursue up to 15 percent of eligible project costs from the Ohio Sports Facilities Commission.
An energy efficiency grant of up to $550,000.
A commitment to be flexible on ownership of the building, contingent on the developer or other private investors being responsible for all financing should the project fail.
Sale or lease of the site for a nominal cost.
Waiver of all city-controlled permit fees.
Source: City Finance Department