If the city knew it was spending its cash reserves, why is the music center being built?

The music center is funded with a projected payment plan consisting of only Tax Increment Financing (TIF) revenues, and no general fund revenues. The music center is currently being built using short-term notes (less than 1% interest) to finance the construction which will save the city money on interest charges as opposed to obtaining bonds at the current time. Once the construction is finished, and the total costs are verified, long-term financing will be sought. The payments on the music center will then be made from the TIF funds. TIF funds can only be used on infrastructure and public facilities, not on safety or city services, personnel, or operational expenses (i.e. they can be used to build a building, but not used to pay for staffing or operating the building). Again, no general fund money is being used to build the music center. A separate fund will be created to operate the music center. The operational expenses are expected to be covered through a variety of projections to include: sponsorship's, naming rights, operating revenue, and the terms of the operations agreement. In our estimates, there is no projected loss when including all the revenues available generated by the music center. Again, this includes naming rights deal, sponsorship's, etc. The operating revenue is difficult to project at this time; however, it is proportioned based on the number of events held. In other words, the sales of tickets, concessions, etc. for the events held are projected to financially support the cost of operating the facility.

An independent feasibility validation study conducted by the nationally  recognized Conventions Sports & Leisure details all projected  revenue and economic development impacts, view the Feasibility Validation Study March 14, 2013 (PDF).

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1. What is the state of the city’s financial situation?
2. Why hasn’t the city informed the residents of this financial situation?
3. If the city knew it was spending its cash reserves, why is the music center being built?
4. How was the construction contract for the music center awarded?
5. How does the cost of our music center compare to the one built in Cincinnati?
6. What is the projected economic development impact of the music center?
7. What will the music center’s impact on our city’s safety services be?
8. Where can I view specific information regarding the city’s financial status?
9. Why is the city talking about raising taxes instead of making do with less money?
10. What exactly is taxed in an earned income tax?
11. How can I participate in having my voice heard by city officials?
12. Can the city explain the use of the Emergency Clause that seems to be used for legislative actions taken by the City?