The plan for funding the now $108 million cost of the new downtown arena got a boost with the announcement of Ohio's capital budget.
The Blade article still has the 'old' price of $105.9 million, despite the county's draft budget submitted to the Ohio Cultural Facility Commission which shows the higher amount.
There is already $5.5 million at the OCFC from previous capital budgets and the new budget includes another $2.2 million. However, the original financing plan for the arena, when the cost was only $80 million, called for $12,250,000 from the state through the OCFC.
The price of the arena has increased $28 million and one of the available funding sources is short $4.55 million - so there is $32.55 million of funding which has yet to be identified.
The commissioners have said the arena has to pay for itself. However, they haven't said where they're getting this extra money - and they're continuing to build it. In fact, on June 4th, the commissioners will "host a major design roll-out" for the public. As they've said they need the final designs in order to complete the financing plan, perhaps after June 4th when the 'final design' is public, they'll explain exactly how the project will be paid for, keeping in mind their promise that the only tax dollars to be used are from the hotel/motel tax.