URGENT!
The Hamilton County Commissioners are holding public hearings and we need you to attend on behalf of our icons on Wednesday, July 23 at 6:30 p.m. at the Sharonville Convention Center. If you're able to attend, please RSVP by clicking here. |
Dear Friends,
As we draw closer to the next public meeting with the Hamilton County Commissioners on Wednesday, July 23 at 6:30 p.m. at the Sharonville Convention Center, I wanted to address another issue that’s been raised around the quarter-cent sales tax levy to repair, restore and renovate Music Hall and Union Terminal. This is the third in a series of communications, and last week I provided some context and information about the Cultural Facilities Task Force and the considerable cost of delaying these critically important projects any further. Please click here to review our correspondence from last week.
It’s been suggested that the levy proposal is similar to the Hamilton County half-cent sales tax levy from 1996 to construct the stadiums, and while declaring they’re the same makes for a nice sound bite, the independent Cultural Facilities Task Force examined the levy proposal carefully. The structure and protections in the proposed levy to Save Our Icons is radically different:.
· The stadium levy funds were not restricted to the construction of the stadiums and have and are being used to support operations at both facilities. The proposed sales tax levy for Music Hall and Union Terminal is restricted to the costs of repairing, restoring and renovating these iconic buildings.
· The sales tax levy to build the stadiums assumed a 3% compounding growth rate in Hamilton County’s sales tax revenue. The average growth rate over the past 15 years has been 1.34%. The proposed levy to support Music Hall and Union Terminal conservatively assumes 0% growth.
· The stadium levy has no sunset provision. The Music Hall/Union Terminal tax levy has a sunset provision after 14 years.
· The general fund was required to meet the bond payments for the stadiums because the levy structure put Hamilton County taxpayers at risk. With Save Our Icons, bondholders and a tax credit entity assume the risk in the proposed sales tax levy.
The bottom line is that this proposed quarter-cent sales tax levy proposal protects the taxpayers and Hamilton County’s general fund, and most importantly, it ensures these treasured Cincinnati landmarks and vibrant community gathering spaces will continue to inspire future generations.
As I stated last week, it is important to share your support with the Hamilton County Commissioners. Please contact the Hamilton County Commissioners with this simple message:
Thank them for their leadership in addressing these long-standing issues.
Ask them to allow the citizens of Hamilton County the opportunity to vote on this proposed plan in November.
If you're able to attend the public hearing at 6:30 PM on Wednesday at the Sharonville Convention Center, please RSVP by clicking here.
We will continue to send updates, and you're encouraged to visit the Save Our Icons website, saveouricons.org. You can also text "Icons" to Cincy (24629) to get involved and get urgent updates and alerts via text. If you have questions about the process or the Music Hall project, please don't hesitate to ask us at info@saveouricons.org.
Again, thank you for your continued support!
Sincerely,
Trey Devey
President
Cincinnati Symphony and Pops Orchestra
May Festival
