Hamilton
County voters approved a half-cent tax increase on March 19, 1996,
which set the stage for the Cincinnati Reds new ballpark. After
voters approved the area between Cinergy Field and the U.S. Bank
Arena as the construction site on Nov. 3, 1998, the Reds and Hamilton
County continued working toward an agreement on the terms of a ballpark
lease.
After a series of negotiations, the Reds and the county signed a
35-year lease on May 21, 1999. The county agreed to pay $280 million
toward the building of the ballpark, which included a $30 million
contribution from the Reds. The Reds also agreed to cover any construction
costs in excess of the original $280 million. This has included
features such as the Pepsi Power Stacks, the Spirit of Baseball
limestone relief, the interior finishes of the Machine Room Grille,
the Crosley Terrace statues and other expenses throughout the ballpark.
In addition, the Reds agreed to pay $2.5 million per year in rent
for the first nine years and $1.00 each year for the final 26 years
of the lease.
In July 2000, Great American Insurance Group reached an agreement
with the Reds to purchase the naming rights of the ballpark, a deal
paying approximately $72 million over 30 years, which gave the Reds
new home a name: Great American Ball Park.
Visit the Ball Park and you will see how several local organizations
helped produce one of the most fascinating facilities not only in
baseball, but in all of sports. State-of-the-art technology, coupled
with historical elements honoring the Reds rich history, create
a ballpark that Reds fans can be proud of.
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Aronoff
Center for the Arts |
