The Banks
The Banks is a planned 15-acre mixed-use development between the Paul Brown Stadium and the Great American Ballpark, situated between Second Street and the Ohio River in Cincinnati, stretching for eight blocks.(3)
History
In 1996, Hamilton County voters approved of a half-cent sales tax increase for the Banks, two sport stadiums and a riverfront park.(7) Unfortunately, cost overruns at the Paul Brown Stadium and lower than expected sales-tax collections left no money to start construction at the Banks.(3) Collections from the tax was $60.4 million in 2003, $2.7 million less than projected. It was the fourth consecutive year that the tax collection fell short.On January 31, 1998, the City of Cincinnati agreed to transfer the land along the riverfront, including the stadiums, to Hamilton County so that the Paul Brown Stadium could be constructed.(16) The two government agencies also enter into a redevelopment agreement to have the county build parking structures along the riverfront to support future development.
In February 1999,(3)(15)(16) Hamilton County and the City of Cincinnati created the Riverfront Advisory Commission that came up with a new development plan that eventually called for a revitalized riverfront development, anchored by two new sports stadiums, a mixed-use development and a riverfront park.(7) During the summer, Urban Design Associates of Philadelphia formulated a list of development options and concepts for the project.(16)
On September 30, the Banks central riverfront redevelopment plan was unveiled, a $200 million project containing offices, hotels, restaurants, retail, apartments and condominiums.(4)(16) The project's goals was to create 5,000 jobs and $171 million in annual payroll.(4)
During the winter, a concept of a transit center began to develop. It's purpose was to link the city's Metro line with future light rail routes.(16) In spring 2000, construction on Fort Washington Way allowed the state and county government to construct the foundations for bridges over the highway to connect downtown to the Banks, saving tens of millions of dollars.
In June, the Port of Greater Cincinnati Development Authority was formed to manage the Banks development, with a secondary effect of redeveloping abandoned industrial sites throughout the county.(16)
The new Paul Brown Stadium, anchoring the western end of the Banks development, opened in August. A portion of Cinergy Field was demolished to make room for construction of the Great American Ball Park.(16)
In May of 2001, the county agreed to construct a parking garage that would serve as the foundation for the National Underground Railroad Freedom Center.(16) Construction of extensions of Vine Street, Walnut Street, Ted Berry Way and Freedom Way began during this time. At the end of the summer, the Fort Washington Way reconstruction was completed.
A riverfront tax-increment-financing district was created in 2002, designed to help fund the development project.(23) Later in the year, three development teams were selected as finalists for the Banks by the Port of Greater Cincinnati Development Authority: Lincoln Property Group/Phoenix Property Group, Madison Marquette/JPI and Sabbath Co./Towne Properties.(3) This had been narrowed from more than a dozen developers.(29)
Components of the development included a 4,400-plus parking garage for condominiums, apartments, shops and offices. The structures would cost between $54 and $56 million, and would lift the development out of the Ohio River flood plain.(3) There would also be 250,000 square feet of retail and 200,000 square feet of office space.(3)
Hamilton County and the Cincinnati Center City Development Corporation, or 3CDC, favored a plan to construct the parking garages on two blocks between the Freedom Center and the Great American Ballpark, which is on the eastern end of the development.(3) The garages would better serve the downtown and the office towers fronting Third Street. It would also be $20 million cheaper than a garage on the western fringe.(9)
The Banks was slated to be divided into two phases, completed in 2003 and 2008,(9) with the section nearest to the Paul Brown Stadium to be built first.(10) The project was delayed, however, by a softening sales-tax base and a sluggish economy.(5)
In December 2002, Cinergy Field was imploded; this was followed by the completion of the Great American Ball Park in April 2003.(16) In July, 3CDC was formed following a recommendation of a mayoral task force to study ways to improve the city's economic development. 3CDC signed a deal with the port authority to become the development manager of the Banks in February 2004.
By this time, however, none of the three finalists selected in 2002 had submitted development plans.(3)
On August 16, the port authority received a $2 million grant to construct a four-lane partially elevated roadway, connecting the Banks development to downtown.(4) The roadway, which cost $4.5 million, was seen as the first step in the long-delayed Banks project.
In November, 3CDC announced that construction could begin in 2005 on a $20 million 1,000-space underground parking garage that would support residential units, a hotel, office and retail space.(5) The attached development would cost $178 million, but most of that would be financed privately. 3CDC stated that design work on the garage would begin in the first or second quarter.
An updated component list for the development was released. It stated that the Banks could compose of,(5)
The revised component list would bring development on the eight blocks to between 855,000 and 1.1 million square-feet for a total cost of as much as $178 million.(5)
In late February 2004, the port authority endorsed a deal by the 3CDC, that would allow the company to take on the role of development manager for the $600 million Banks project, after three years of searching for a developer.(1) That allowed 3CDC to assemble a team to construct the project and to assist the port authority to secure financing. It also eliminated duplication. 3CDC approved of the arrangement on March 10.(1)
Under the plan, the port authority would finance, own and lease the property. Cincinnati and Hamilton County would grant the port authority the power to issue bonds, collect public funding and sign agreements with other government branches.(1) As of March, the port authority had identified $25 million of $65 million required to build the parking garages that would serve as a foundation for the Banks. Construction on the garages was slated to begin in the summer, all dependent if Ohio's Transportation Review Advisory Council (TRAC) approved upon a plan to finance $11 million towards the project. The authority also sought $90 million in federal loans to pay for infrastructure.
In early May, 3CDC received the $11 million financing package from TRAC. It had earlier received a $10.4 million federal transportation grant approved by the Ohio-Kentucky-Indiana Council of Governments(2) and needed an additional $15 million in local funding to complete the riverfront street grid and build a pad that would serve as a roof for the underground garages and as a foundation for the development on top.(5) $5 million in annual parking revenue would be used to back millions of dollars in bonds,(7) although another source claimed that it would generate $1.6 million per year.(11)
The allocation by this time included $52 million, including,(8)
On November 20, Congress earmarked $2 million for the Central Riverfront Project.(6)
In early February 2005, a new construction begin date was announced for early 2006.(9) On the 15th, 3CDC announced that it was modifying the original Banks proposal, by constructing a 1,000-space parking garage and transportation hub on the blocks between the Underground Railroad Freedom Center and Great American Ball Park.(10) A sit-down restaurant would be built in the riverfront park.
On May 6, 3CDC and the port authority announced that they were ready to hire a project manager who would oversee construction of the garage.(12) The garage would take one year to design and two years to construct.
In June, the Banks Development Corp. offered $10 million towards the rights of developing the project.(18) Consisting of Corporex Inc. of Covington and Vandercar Holdings Inc. of Madisonville, Cincinnati Council members accused Hamilton County of "back door deals" in selecting the developers for the project.
-Mayor Charlie Luken(18)
As a result of the deal, nearly $25 million in federal transportation money from the Ohio Department of Transportation and the Ohio, Kentucky, Indiana Regional Council of Governments (OKI) was put in jeopardy.(19) The county had to justify the rationale behind the move, and that the financing would transfer to a project with an entirely different composition. In early August, county officials stated that they expected private developers to cover $29 million in infrastructure costs related to the project.(23)
On June 9, Hamilton County commissioners announced that Corporex Inc. of Covington and Vandercar Holdings Inc. of Madisonville were the preferred developers of the Banks, with the developers contributing $10 million in equity towards the project.(13) The combined group was named the Banks Development Corp.(17) A revised construction timeline called for construction to begin on parking garages on both sides of the National Underground Railroad Freedom Center to begin by spring 2006. Above-ground construction would begin by 2007, and the buildings would be ready for occupancy by 2009.(14) The developers had 180 days to put together a viable plan.(17)
As part of the deal, Corporex requested $30 million in additional public funding.(37)
The announcement of the preferred developers, however, circumvented the Port of Greater Cincinnati Development Authority, who had selected three finalists for the Banks, and who were to submit more specific proposals only months away.(18) 3CDC, the development company the city put in charge of the development, was also left out of the plans.
The county's power stemmed from the 1996 countywide sales tax which was slated to pay for parking garage infrastructure.(18) The county, however, could not build above the level of Second Street without the city's approval.
As a result, Jack Rouse quit as chairman of Hamilton County's economic development task force.(20) Rouse, who was pegged by former Mayor Roxanne Qualls for a riverfront advisers group in 1998, is the CEO of Jack Rouse Associates, a world-renowned design firm.(21)
-Jack Rouse, CEO of Jack Rouse Associates and former chairman of Hamilton County's economic development task force(20)
On August 10, the county-controlled Community Improvement Corporation of Greater Cincinnati approved a pre-development agreement with the primary developers -- Corporex and Vandercar.(22) Later in the month, against the advice of City Manager Valerie Lemmie and several City Council members, Cincinnati's Planning Commission begun the process to change the zoning of the Banks from a Downtown Development District to a Planned Unit Development.(26)(27)
Under the current zoning, the developer must submit a detailed site plan to the city's hearing examiner. The examiner can approve the plan or recommend changes, and approve of variances. The developer can also appeal an examiner's decision to the city's Board of Zoning Appeals.(26) Under a Planned Unit Development, the project's site plan would go before the Planning Commission for approval. Any appeal would be heard from the City Council. Critics state it would curtail the developer's progress in the Banks and create a bureaucratic nightmare, while supporters claim that it would streamline the process and develop the property to its original proposal.(26)(28)
On September 16, Hamilton County official presented an idea to try to stem the zoning concerns,(28)
OKI and the Ohio Department of Transportation (ODOT), on October 13, ensured that $20.8 million earmarked for the development project was still in the pipeline.(31) Half of the $20 million had already been approved to build parking garages for the Banks, under the theory that drivers would have convenient location for parking rather than driving aimlessly in a hunt for spaces. Hamilton County wanted to spend the remainder to build roads within the Banks. With OKI and ODOT reluctant to agree on that proposal, they stated that Hamilton County's portion, or $10.4 million, would be transferred to ODOT for use elsewhere in the state.(31) In exchange, the state would transfer an equal amount of cash from its surface transportation fund to OKI for use at the Banks. Surface transportation money can be used to build roads.
The riverfront park proposal received an additional $250,000 in mid-November, as part of a $30.5 billion federal energy and water appropriations bill that passed the U.S. Senate.(33)
On December 5, Corporex announced that it was withdrawing from their no-bid Banks project, for which they were expected to announce their financing plan on the 7th.(34)(35) The rationale for the pullout included funding difficulties and construction cost increases. Later in the month, it was announced that site preparations would begin for two blocks of the Banks project.(37)
Hamilton County issued a request on January 30, 2006 for qualifications from developers interested in the Banks project.(38) The timeline called for potential bidders to submit information by March 8, and a developer would be chosen by April 8 following negotiations.
In February 2006, the Ohio Department of Transportation told Hamilton county officials that it would entertain a $20 million, interest-deferred loan to help finance transportation-related infrastructure at the Banks.(42) The loan would pull from the State Infrastructure Bank, a revolving loan fund that had funded $250 million in road projects throughout the state.
The question remained if Hamilton County could afford the Banks.(44) The county projected a $191 million deficit in the sales tax fund that paid for construction of the Paul Brown Stadium and the Great American Ball Park, a tax that was designed to also fund the Banks. In addition, two of the three commissioners pledged for no new taxes.
During this time, the City of Cincinnati offered Hamilton County $20 million to purchase the land destined for the Banks project.(39) After Hamilton County rejected the offer, the city council requested more involvement in the development, and threatened to hold up the development by withholding taxes and air rights if the county doesn't give the council equal say in the proceedings. On the 23rd, both governments agreed on an equal partnership in selecting a developer for the Banks.(40) The deal stated that,
On February 24, Hamilton County officials briefed six companies who had the experience or interest in developing the Banks.(41)
The agreement dissolved on March 7, when Hamilton County officials proclaimed that they would pick a developer for the Banks without input from the Cincinnati City Council after the council passed an ordinance the day prior that sought to force the county to share oversight of the project.(43) The case also caused a rift between council members and Mayor Mark Mallory, who had been in office for nearly 100 days. The ordinance approved threatened to withhold an estimated $32 million in tax-increment financing and air rights if the county failed to create a committee that would equally represent both governments per the agreement set a month prior.
On March 8, five local development groups submitted plans to complete the Banks development.(45)
Several weeks later, on the 17th, two Republican state lawmakers, State Reps. Bill Seitz of Green Township and Michelle Schneider of Madeira, threatened an effort to withhold an annual allocation of $30 million in state funds unless the City Council members agreed to surrender the money to Hamilton County and let the project proceed.(47) The state funding was used to finance police and fire departments within the city, along with the parks department and other public services and utilities.
This was followed with a coalition of groups, including the NAACP and the Greater Cincinnati and Northern Kentucky African American Chamber of Commerce, who requested 25% minority inclusion in all aspects of the Banks project, along with a plan for mixed-income housing.(48) The issue was mostly resolved a year later when two additional members, both African-Americans, were added to the Banks Working Group.(70)
On April 17, the Ohio Department of Transportation revoked a low-interest loan for the development, stating that it wanted further details on other elements of the county's financial plan first.(50) Details requested include a schedule for how and when the state money would be used, along with an environmental impact study.
This was followed by two former Cincinnati Mayors, Bobbie Sterne and David Mann, whom retained Hamilton County Prosecutor Marc Mezibov two days prior before county commissioners picked a developer for the Banks. The former mayors stated that the commissioners violated city-county agreements, and spent public money without any authority.(49) On April 25, the former mayors sued the county, requesting,(51)
As a result, the selection of a primary developer for the Banks was delayed.(52)
On April 28, Hamilton County announced that it had expanded the build out plan for the Banks to include an additional 700,000 square feet of real estate to the development to increase revenue potential in a tax-increment financing district.(53) Most of the increase came in residential construction, with 750 units that would be built over ten years. Office, retail and hotel space also increased.
The city of Cincinnati and the Hamilton County Commissioners formed a "Banks Working Group" on May 3 to resolve issues paramount to the development of the Banks.(54)(55) The newly formed group was put in charge of selecting a developer, negotiating a development agreement, and managing the $600 million project. The resolution to the heated dispute was achieved after a 13-hour bargaining session orchestrated by Cincinnati Reds owner Robert Castellini. Castellini, was elected as chairman of the Group. The group also set up a competition amongst four developers.
The Sterne and Mann lawsuit against Hamilton County was also dropped.(55)
Following the agreement, a group of architects and engineers, the Cincinnati chapter of the U.S. Green Building Council released a report stating that if the Banks was built with an environmental conscious, energy and water bills would be $29.2 million less over a 20-year period, and that 342 million pounds of greenhouse gases would not enter the atmosphere.(56) In addition, 9 million pounds of solid waste would be eliminated. The groups pushed for the Banks to be constructed to Leadership in Energy and Environmental Design (LEED) standards.
On May 24, a development group led by Western-Southern Financial Group was recommended as an overseer to the Banks.(59) The development group, named Cincinnati Banks Development Co., would include Western-Southern, its subsidiary Eagle Realty Group, and developers Jeffrey R. Anderson Real Estate and Vandercar Holdings.
In September, Reds Chief Executive Officer Bob Castellini used his private jet to fly a group of Hamilton County Commissioners and Cincinnati officials to Atlanta as a precursor to selecting a master developer for the Banks.(61) The group flew down to tour Atlantic Station, a development similar to the Banks that was constructed by AIG/Carter, an Atlanta-based company that had become a front-runner to become the Banks master developer.
Master developer selected
On September 16, AIG/Carter was selected as the master developer for the Banks.(62) A development plan would be required by February 15.(64) After reviewing the planning documents from 2000, AIG/Carter suggested that the Banks site could contain up to five times the 600 to 800 residential units originally planned.(63) The units would be phased in over a period of years so that the market would not become over-saturated.On February 7, 2007 Chris Bortz, chairman of City Council’s Economic Development Committee, stated that an extended negotiating period with AIG/Carter would be necessary because the city and county had not secured approvals for more than $25 million in federal funding to build streets and public parking structures.(64) The Banks Working Group unanimously approved a 90-day extension on the 15th.(66)
As a result of the three month delay, River Bank Consortium LLC, who had earlier submitted a proposal for the Banks, requested to develop the Banks. Audie Tarpley, chief executive of the company, stated that they were prepared to sign a contract to develop the first phase of the development of 200 apartments, 100 condominiums, a hotel and approximately 150,000 square feet of retail space.(67) The design would adhere to the original guidelines for the buildings' heights and density, and would require no public financing for the private components.
In March, Verdi Construction Inc., who had also earlier submitted a proposal for the Banks, stated that they were offering up to $40 million in rebates to Cincinnati and Hamilton County if they were to be awarded the project.(69) The company was willing to forgo its profits on the residential portion of the project, which would return between $16 million and $40 million to the city and county.
On March 16, Congresswoman Jean Schmidt announced that the U.S. House of Representatives Committee on Transportation and Infrastructure authorized $25 million in federal funding for construction of the Banks.(68) The authorization was included in a manager's amendment to the Water Resources and Development Act which passed the full Committee. The Congressional authorization allowed the City and County to seek federal funds for Army Corp of Engineers projects needed to develop the Banks.
On April 20, new renderings were released to the public.(72) The renderings conveyed a more contemporary feel, and the development plan was modified to include more entertainment-focused businesses clustered towards the stadiums. Three days later, AIG/Carter announced that it would pursue housing and entertainment tenants on both sides of Freedom Way, connecting the Great American Ball Park with the National Underground Railroad Freedom Center in a $50 million project.(73) A pair of two-story underground garages would be completed on two blocks west of the ballpark, along with elevated streets connecting the blocks to the rest of the street grid. AIG/Carter would then construct housing and retail structures on either side of Freedom Way, building out the blocks as financing and tenants become available.
The $50 million would be financed by $28 million in federal and city grants, a $10 million developer contribution, and a loan from the Ohio's infrastructure bank.(73)
AIG/Carter announced that groundbreaking would occur in early 2008, and that the first residential units could be ready for occupancy by the end of 2009.(74) A component breakdown on phase one of the project, or the eastern two blocks, included,(74)
AIG/Carter also stated that the Banks will include upon completion,(74)
On the 23rd, AIG/Carter announced that the first phase of the Banks would cost $50 million, financed by $28 million in federal and city grants, a $10 million developer contribution, and a loan from the Ohio's infrastructure bank.(73)
On May 15, the day that the developers of the Banks were to be announced, the Banks Working Group announced that it extended the deadline for another 30 days until June 15, to allow more time to complete a master development agreement.(77)
On June 5, financial partner AIG Global Real Estate pulled out of the Banks, leaving Carter Real Estate looking elsewhere for financing.(78) Carter stated that negotiations on a master development agreement would still continue without delay. On the 11th, minority-owned Harold A. Dawson Company Inc. of Atlanta was selected as a replacement financial and development partner.(79)
Banks project is 'a done deal'
Ten days later, with the deadline approaching for a completed master development agreement, Carter and Dawson agreed in principle to serve as master developers for the Banks.(80) The seven-member Banks Working Group voted unanimously to recommend the developers for the project. The non-binding agreement called for 300 apartments in the first phase, followed by 100 condominiums and 70,000 square feet of retail, and an unspecified amount of office space. It also included a $20 million parking garage that will raise the Banks out of the flood plain, and another $20 million in public improvements that include street and utility construction.(81)The agreement also called for $42 million in new subsidies for apartment construction, parking garages not related to the garages by the riverfront, and development platforms.(83) The subsidies represented a shift in mentality for Hamilton County, which in the past pushed the costs for the garages to the developers.
Ground breaking was planned for early 2008 and for some unit occupancy by 2009.(82)
Soon after, the Cincinnati Planning Commission held a special meeting to consider changes to the master plan for the Banks. They included,(84)
On August 16, the seven-member planning commission recommended approval of the development project and its amendments, voting five to one with one member absent.(85) There was opposition from some downtown property owners, however, as they expressed concern that the Banks would saturate the market for office space and ruin downtown views; they threatened with a lawsuit if the project was approved.(86) Other downtown parking lot owners complained that the garages would siphon revenue from their operations.(90) As a result, a vote by the commission to approve of the project was delayed (87) and the height variance allowing up to 30-story buildings was later opposed by seven members of the commission.(88) They proposed a maximum building height of 24 stories, 20 occupied floors and four for parking.(92)
The Ohio Department of Development announced on September 24 to recommend an interest-free $5.475 million loan to Hamilton County to construct a "two-story transit and parking structure" for the Banks.(89)(91)
On October 23, the Master Development Agreement was approved by the Banks Working Group.(92) It included not only a cap of 24 stories, but the first comprehensive policy between Cincinnati and Hamilton County on the hiring of minorities and the disadvantaged.(93)(98) The agreement stated the Group must include training programs and require that 22% of the labor hours are supplied by minorities or women-owned firms, and that small businesses receive 30% of the construction contracts. The pact also stated that there must be a 50%/50% partnership between the city and county in seeking public funding and in the management of the project.
Three days later, the Cincinnati Parks board voted unanimously to approve the agreements, but expressed concern about money that would be required to maintain the park in later years.(94)(98) Following a six-hour meeting, the Cincinnati City Council voted 9-0 to approve the agreements on October 29.(95)
With the approval and the amended agreement, opposition against the Banks decreased.(96) A group of downtown property owners, who had earlier proposed a lawsuit, stated that most of their concerns "have or will eventually be addressed."
On November 1, Hamilton County commissioners unanimously approved of the agreement, the final hurtle the developers faced in the development of the Banks.(97)(98) The votes were cast in the National Underground Railroad Freedom Center, a focal point of the Banks development.(98)
-Cincinnati Mayor Mark Mallory(97)
With the final agreement, the city announced that it had already put away approximately $17.5 million of the $26.5 million needed to fund the Banks, and that the remaining $9 million would come from the issuance of bonds.(99)
On January 22, 2008, the developers of the Bank were given an extra month to secure financing for the first phase of the project, projected to cost $74 million.(104) Despite funding promises from three lenders, the developers sought additional equity investment.
One month later, on February 29, Carter & Associates and the Harold Dawson Co.
announced that they had secured all $74 million in financing needed for the first phase of construction, which cleared the way for an projected April 2 groundbreaking.(105)
Groundbreaking
On April 2, groundbreaking occurred on the long-delayed Banks project.(106)Only a few days later, on the 15th, the Cincinnati Metropolitan Housing Authority urged the city and county to set aside up to 10% of the units at the Banks for low-income or Section 8 tenants.(107) The move was immediately disapproved by the county and city commissioners, who either dismissed the idea entirely, or declined to answer questions as "inflammatory." (108)
-Hamilton County Commissioner David Pepper(107)
Throughout the summer, the remaining Cinergy Field foundations were removed to make way for steel pilings that will be driven into the ground to serve as foundation for the development, and for the expansion of Freedom Way that will connect Main and Walnut streets.(109) On July 30, Hamilton County commissioners awarded a $500,000 contract for the piling construction and later awarded a contract for the steel skeleton of the parking garage.
Citing the steep housing downturn and a "extraordinarily flat" condo market, and the strong demand for a hotel, developers of the Banks project announced on September 21 that they would construct a hotel instead of a condominium tower.(110) It would be located between Freedom Way and Main, Second and Walnut streets, contain 200 rooms and be 10 stories tall. Otherwise, the first phase of the project, including a two-story parking structure, an apartment building, and 70,000 square-feet of retail, was not modified.
Central Riverfront Project
The Cincinnati Parks department received $1 million in 2004,(3) followed by $250,000 in 2005 (46) to design a 37- to 50-acre park along the riverfront, to compliment the Banks.(3) It earlier had received $3 million in federal grants. The park could cost up to $70 million to construct, and would stretch from the Purple People Bridge to the Brent Spence Bridge.In mid-October 2005, the Cincinnati Playhouse in the Park contemplated a move from Mount Adams to the proposed riverfront park.(30) The existing 626-seat theater, the Robert S. Marx Theater, was constructed in 1968 and had become too small and outdated.
The Playhouse commissioned Campbell and Company of Chicago to interview 72 potential corporate, foundation and individual donors to measure support for a capital campaign for a new theater. It was generally well received.(32) The cost to construct a new theater at Mount Adams was $50 million versus $70 million at the Banks. On December 8, in response to Corporex pulling out days prior from the Banks project, Cincinnati Playhouse announced it was taking a "wait-and-see" approach but would not commit wholly to the riverfront park.(36) It later pulled out of the Banks and opted to build a new theater in Mount Eden in early June 2006.(60)
On March 16, 2006, the price tag of the park had jumped to $88 million.(46) Ohio lawmakers requested $8 million in the federal budget for the 52-acre park, and an additional $3.19 million to construct Theodore M. Berry Way from Walnut to Main Street as part of the Central Riverfront Street grid.
On April 11, 2007, it was announced that funding was in place for the first phase of a proposed $65 million, 36-acre riverfront park,(71) smaller in size to earlier proposals. Groundbreaking was slated for October, and it would include park caps over Fort Washington Way in a later phase.
On November 2, President Bush vetoed the Water Resources Development Act of 2007, which would have authorized $30 million for the park.(100) Stating that it lacked "fiscal discipline," the bill had passed the Senate 81-12 and the House 381-40. It was overturned six days later by the House, in a vote of 361-54.(101) It was the first veto over a presidential action in a decade.
Minority Inclusion
On May 22, 2006, several local organizations demanded that the five member panel that composed the Banks Working Group include blacks.(57) The panel, composed entirely of white men,(57) irked organizations such as the NAACP. The Group, along with the City of Cincinnati and Hamilton County, refuted the demands, stating that it would delay the project and that those chosen were more than adequate to handle the tasks.(58)-Hamilton County Commission President Phil Heimlich, who is white, in a speech with Cincinnati Mayor Mark Mallory, who is black.(58)
An Ohio appeals court ruled in February 2006 that any government program that awards contracts based upon race or gender would be declared unconstitutional.(65)
In May 2007, the local Cincinnati branch of the NAACP requested that the two African-Americans appointed to the Banks Working Group vote "no" on the development deal due to a perceived lack of minority inclusion on the project.(75) They compared the situation to 1963, when Alabama Governor George Wallace stood in the doorway of a school to stop two black students from registering at the University of Alabama.(76)
Light rail
Cincinnati and Hamilton County officials began preliminary planning work in August 2005 on a proposed light-rail connection that would be constructed within the riverfront parking structures at the Banks.(24) The potential for the proposal was strong; the Ohio Department of Transportation Director Gordon Proctor stated that the project was the region's best bet at building light rail.-Gordon Proctor, Ohio Department of Transportation Director(24)
The proposal came at a time when criticism came forward about the existing transit center that was constructed as part of the Fort Washington Way project.(24) Constructed for more than $40 million, the station was designed to accommodate up to 500 buses, or 20,000 passengers, an hour. It's mammoth air-conditioning units were equipped to handle light-rail, commuter-rail and inner-city trains. On the whole, however, the station is closed 250 days a year. Defenders stated that while the station is not functional due to its distance from downtown and its relative isolation, it's location adjacent to the Banks could revive it.
Sources
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16. "Timeline." Cincinnati Enquirer 11 June 2005. 26 Aug. 2008 Timeline.
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29. Rose, Marla Matzer. "Deal on Banks due before Dec. 7." Cincinnati Enquirer 9 Oct. 2005. 26 Aug. 2008 Article.
30. Stein, Jerry. "Playhouse may move to Banks." Cincinnati Post 14 Oct. 2005. 26 Aug. 2008 Article.
31. Klepal, Dan. "Cash swap gives Banks plan $20M." Cincinnati Enquirer 14 Oct. 2005. 26 Aug. 2008 Article.
32. Stein, Jerry. "Playhouse looking for new theater." Cincinnati Post 3 Nov. 2005. 26 Aug. 2008.
33. Cook, Tony. "$250K grant for park on river." Cincinnati Post 17 Nov. 2005. 27 Aug. 2008 Article.
34. Rose, Marla Matzer and Kimball Perry. "Banks deal falls apart." Cincinnati Enquirer 5 Dec. 2005. 27 Aug. 2008.
35. Monk, Dan. "Hamilton County's Banks deal unraveling." Cincinnati Business Courier 5 Dec. 2005. 27 Aug. 2008 Article.
36. Stein, Jerry. "Decision on new theater on hold." Cincinnati Post 8 Dec. 2005. 27 Aug. 2008 Article.
37. Perry, Kimball. "The Banks project is still alive." Cincinnati Enquirer 18 Dec. 2005. 27 Aug. 2008 Article.
38. "County seeks bids on Banks project" Cincinnati Business Courier 30 Jan. 2006. 27 Aug. 2008 Article
39. Perry, Kimball and Dan Klepal. "County rejects Banks sale." Cincinnati Enquirer 17 Feb. 2006. 27 Aug. 2008 Article.
40. Perry, Kimball and Dan Klepal. "City, county strike deal on Banks." Cincinnati Enquirer 23 Feb. 2006. 27 Aug. 2008 Article.
41. Perry, Kimball. "Potential developers here." Cincinnati Enquirer 25 Feb. 2006. 27 Aug. 2008.
42. Monk, Dan. "State loan among options to help fund Banks project." Cincinnati Business Courier 27 Feb. 2006. 27 Aug. 2008 Article.
43. Klepal, Dan, Kimball Perry and Marla Matzer Rose. "Rift widens over Banks." Cincinnati Enquirer 2 March 2006. 27 Aug. 2008 Article.
44. Perry, Kimball. "Can the county afford Banks?" Cincinnati Enquirer 5 March 2006. 27 Aug. 2008 Article.
45. Perry, Kimball. "Five bid for The Banks." Cincinnati Enquirer 8 March 2006. 27 Aug. 2008 Article.
46. Rulon, Malia. "Banks tops federal fund list" Cincinnati Enquirer 16 March 2006. 27 Aug. 2008.
47. Klepal, Dan. "State threatens city funds over Banks." Cincinnati Enquirer 17 March 2006. 27 Aug. 2008 Article.
48. Rose, Marla Matzer and Jeff McKinney. "Inclusion sought for Banks." Cincinnati Enquirer 21 March 2006. 27 Aug. 2008.
49. Rose, Marla Matzer and Jeff McKinney. "Ex-mayors seek Banks suit." Cincinnati Enquirer 20 April 2006. 27 Aug. 2008 Article.
50. "ODOT nixes Banks loan, for now." Cincinnati Business Courier 22 April 2006. 27 Aug. 2008 Article.
51. Perry, Kimball. "Lawsuit asks halt to Banks." Cincinnati Enquirer 26 April 2006. 27 Aug. 2008 Article.
52. Perry, Kimball. "Banks recommendation delayed." Cincinnati Enquirer 26 April 2006. 27 Aug. 2008 Article.
53. May, Lucy and Dan Monk. "Analysis: Scope of Banks may grow dramatically, adding 50 percent more." Cincinnati Business Courier 28 April 2006. 27 Aug. 2008 Article.
54. "City, county reach Banks agreement." Cincinnati Business Courier 3 May 2006. 27 Aug. 2008.
55. Perry, Kimball, Marla Matzer Rose and Dan Klepal. "City, county bust deadlock." Cincinnati Enquirer 5 May 2006. 27 Aug. 2008 Article.
56. Baverman, Laura. "Group reimagines Banks' impact with green emphasis." Cincinnati Business Courier 12 May 2006. 27 Aug. 2008 Article.
57. Klepal, Dan. "Banks panel's makeup blasted." Cincinnati Enquirer 23 May 2006. 27 Aug. 2008 Article.
58. Perry, Kimball. "City, county not budging on Banks." Cincinnati Enquirer 24 May 2006. 27 Aug. 2008 Article.
59. "Local group recommended to develop The Banks." Cincinnati Business Courier 25 May 2006. 27 Aug. 2008 Article.
60. Stein, Jerry. "Playhouse to stay in the park." Cincinnati Post 2 June 2006. 27 Aug. 2008.
61. Perry, Kimball. "Banks group heads to Atlanta." Cincinnati Enquirer 11 Sept. 2006. 27 Aug. 2008 Article.
62. Wessels, Joe. "Next Banks hurdle: A contract." Cincinnati Post 16 Sept. 2006. 27 Aug. 2008 Article.
63. Newberry, Jon and Dan Klepal. "Banks developer sees lots of housing." Cincinnati Enquirer 25 Sept. 2006. 27 Aug. 2008 Article.
64. Newberry, Jon. "New delay possible on Banks." Cincinnati Enquirer 5 Feb. 2007. 27 Aug. 2008 Article.
65. May, Lucy. "Inclusion confusion." Cincinnati Business Courier 9 Feb. 2007. 27 Aug. 2008 Article.
66. May, Lucy. "Group has 90 more days to lock up Banks deal." Cincinnati Business Courier 15 Feb. 2007. 28 Aug. 2008 Article.
67. "Banks group requests new chance for plan." Cincinnati Enquirer 1 March 2007. 28 Aug. 2008 Article.
68. U.S. House of Representatives. Committee on Transportation and Infrastructure. Schmidt Announces Federal Authorization for Banks Project. 16 Mar. 2007. 28 Aug. 2008 News Release.
69. Wessels, Joe. "Portune likes Plan B if Banks deal is no-go." Cincinnati Post 17 March 2007. 28 Aug. 2008 Article.
70. Brown, Jessica and Jon Newberry. "Changes made to Banks project." Cincinnati Enquirer 4 April 2007. 28 Aug. 2008 Article.
71. Osborne, Kevin. "Secret Plans for The Banks." City Beat 11 April 2007. 28 Aug. 2008.
72. Brown, Jessica and Jon Newberry. "Leaders get peek at Banks." Cincinnati Enquirer 20 April 2007. 28 Aug. 2008 Article.
73. Monk, Dan. "Developers to start small on Banks." Cincinnati Business Courier 23 April 2007. 28 Aug. 2008 Article.
74. Brown, Jessica. "Living at The Banks by 2009?" Cincinnati Enquirer 23 April 2007. 28 Aug. 2008 Article.
75. Brown, Jessica. "NAACP angry over Banks." Cincinnati Enquirer 23 April 2007. 28 Aug. 2008.
76. Wilkinson, Howard and Jane Prendergast. "NAACP tells city council it's watching Banks developments." Cincinnati Enquirer 10 May 2007. 28 Aug. 2008 Article.
77. Newberry, Jon. "30 day delay on Banks deal." Cincinnati Enquirer 15 May 2007. 28 Aug. 2008 Article.
78. Newberry, Jon. "Financier quits Banks." Cincinnati Enquirer 5 June 2007. 28 Aug. 2008 Article.
79. Brown, Jessica. "Banks to get minority partner." Cincinnati Enquirer 11 June 2007. 28 Aug. 2008 Article.
80. "Banks project 'agreement'." Cincinnati Enquirer 14 June 2007. 28 Aug. 2008 Article.
81. Wessels, Joe. "Banks project is 'a done deal'." Cincinnati Post 14 June 2007. 28 Aug. 2008 Article.
82. Brown, Jessica and Jon Newberry. "Banks developers selected." Cincinnati Enquirer 15 June 2007. 29 Aug. 2008 Article.
83. Monk, Dan and Lucy May. "Changing its stance, county OKs more subsidies for Banks." Cincinnati Business Courier 22 June 2007. 28 Aug. 2008 Article.
84. Monk, Dan. "Planning commission to mull riverfront plan changes." Cincinnati Business Courier 13 Aug. 2007. 28 Aug. 2008.
85. Brown, Jessica. "Planners sign off on Banks plan." Cincinnati Enquirer 16 Aug. 2007. 28 Aug. 2008 Article.
86. Monk, Dan. "Downtown forces line up in opposition to Banks plan." Cincinnati Business Courier 30 Aug. 2007. 28 Aug. 2008 Article.
87. Brown, Jessica. "Banks vote is delayed." Cincinnati Enquirer 6 Sept. 2007. 28 Aug. 2008 Article.
88. Monk, Dan. "Council support low for high-rise-heavy Banks." Cincinnati Business Courier 14 Sept. 2007. 2 Sept. 2008 Article.
89. "Loan to fund Banks garage." Cincinnati Enquirer 25 Sept. 2007. 2 Sept. 2008 Article.
90. Brown, Jessica. "Group: Banks will steal our parking." Cincinnati Enquirer 8 Oct. 2007. 2 Sept. 2008 Article.
91. Wessels, Joe. "Banks gets loan, but needs more." Cincinnati Post 20 Oct. 2007. 2 Sept. 2008 Article.
92. McKee, Tom. "Development Agreement Approved For The Banks." WCPO 23 Oct. 2007. 2 Sept. 2008 Article.
93. Brown, Jessica. "Banks: 'Stalled dreams over'." Cincinnati Enquirer 23 Oct. 2007. 2 Sept. 2008 Article.
94. "Park board gives OK to Banks plan." Cincinnati Business Courier 26 Oct. 2007. 2 Sept. 2008 Article.
95. Prendergast, Jane. "Council cool with Banks." Cincinnati Enquirer 29 Oct. 2007. 2 Sept. 2008 Article.
96. Brown, Jessica. "Opposition to Banks fading." Cincinnati Enquirer 30 Oct. 2007. 2 Sept. 2008 Article.
97. Brown, Jessica. "Banks approved; 'An incredible thing'." Cincinnati Enquirer 1 Nov. 2007. 2 Sept. 2008.
98. Brown, Jessica. "The Banks is a done deal." Cincinnati Enquirer 2 Nov. 2007. 2 Sept. 2008.
99. Wessels, Joe. "Money is next Banks hurdle." Cincinnati Post 2 Nov. 2007. 2 Sept. 2008 Article.
100. Rulon, Malia. "Veto a douse of cold water for Banks." Cincinnati Enquirer 2 Nov. 2007. 2 Sept. 2008.
101. "Senate overrides Bush water projects veto." Associated Press 8 Nov. 2007. 2 Sept. 2008 Article.
104. Reed, Keith T. "More time for Banks money." Cincinnati Enquirer 22 Jan. 2008. 3 Sept. 2008.
105. Reed, Keith T. "Banks to start April 2." Cincinnati Enquirer 29 Feb. 2008. 3 Sept. 2008 Article.
106. May, Lucy. "Shovels begin turning for Cincinnati Banks project." Business Courier of Cincinnati 2 April 2008. 3 Sept. 2008 Article.
107. Korte, Gregory. "Housing at Banks now an issue." Cincinnati Enquirer 16 April 2008. 3 Sept. 2008 Article.
108. Korte, Gregory. "Public housing at The Banks: 'ill-timed'." Cincinnati Enquirer 16 April 2008. 3 Sept. 2008 Article.
109. Reed, Keith T. "The Banks officials set to award first contract." Cincinnati Enquirer 30 July 2008. 3 Sept. 2008 Article.
110. Monk, Dan. "Banks developers on hotel trail." Cincinnati Business Courier 22 Sept. 2008. 6 Oct. 2008.