The Board of Trustees of the Oakley Community Council (“OCC Board”) has adopted the following resolution by unanimous written consent (with one board member abstaining) in response to Mayor Cranley's proposed plan for the City of Cincinnati to assist with the financing of the Public Infrastructure Improvements in connection with the development of the stadium for FC Cincinnati on the proposed Oakley site:
BE IT, RESOLVED, that the OCC Board opposes the use of the entire amount of the cash on hand and future payments in lieu of taxes from (i) City Incentive District No. 20 (established by Ordinance No. 415-2005, passed November 2, 2005, the “Oakley TIF District”), and (ii) the project TIF exemptions created in connection with the Center of Cincinnati development (established by Ordinance Nos. 245-2002, passed June 26, 2002, and 336-2001, passed October 24, 2001, respectively, the “Existing Project TIFs”), which is an aggregate amount, including both the Oakley TIF District and the Existing Project TIFs, equal to approximately $9,750,000.00.
On November 7, 2017, the OCC Board adopted a resolution to provide a letter of support to the City of Cincinnati in favor of the vision of an FC Cincinnati stadium in Oakley, as presented at such meeting, subject to the continuing review of the development by the Oakley Community Council and the OCC Board. That vision did not include, and the OCC Board neither discussed nor took action with regards to, any details of the financing for the FC Cincinnati stadium or the Public Infrastructure Improvements. The vote taken by the OCC Board on November 7, 2017, at the request of FC Cincinnati, was a not green light for the City and FC Cincinnati to move forward, but rather was a yellow light to proceed subject to continuing discussion with the entire community, including the Oakley Community Council and the OCC Board, and the opportunity for significant community involvement and input.
Mayor Cranley’s proposal requires the diverting of funds intended for economic development within the respective TIF districts, including the main business district along Madison Road, which TIF districts do not include the proposed site for the FCC stadium. The OCC Board believes that this proposal could be detrimental to the long term development needs of Oakley. Current development projects within Oakley have requested access to these same TIF funds, including one project co-sponsored by the City and the Oakley Community Council.
Oakley is proud to be considered for such an important development for our region. The OCC Board has heard from many people and businesses in our community, and there is passion both for and against the development of the stadium in Oakley. If Oakley is ultimately determined to be the location for the stadium, the OCC Board wants it to be developed in a way that would enhance what makes our neighborhood a desirable place to live, work, and play, with input from our residents and businesses.
Oakley Community Council