Public Financing Of New Crew Stadium To Change

Dec 5, 2019

Credit Columbus Crew SC

The governmental entity created by the City of Columbus to finance and own a new downtown Columbus Crew Stadium says it is likely to change the public financing arrangement announced earlier this year. 

The Confluence Community Authority says it's unsure it will issue 25 million dollars in bonds to finance the project.  The authority likely will use tax revenues on a nearby mixed-use development to reimburse the team for development costs. The authority - whose members now include former Columbus Mayor Michael Coleman - also will soon name a monitor to update the city and county. Documents show the project is now costing 373 million dollars, not including 64 million in public costs the city says are being spent to improve the area.  The city previously negotiated an affordable housing requirement out of the project.  Coleman was hired as a lobbyist by the team last spring.