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Opened in 1975, the current arena is hindered by its size and interior space configuration. It is time for us to decide whether we want a new,
contemporary arena to replace the original Riverfront Coliseum (now Heritage Bank Arena) – once and for all.

A new arena would not only be used to cheer on our local teams (we have already received support from the Cincinnati Cyclones to play their 36+
ECHL homes games at the new arena) but will also enable us to compete for major concerts, national-level sporting events, political conventions,
and much more. It would also allow us to move local events from the soon-to-be-modernized Duke Energy Center to the arena, thus freeing it up
for additional conventions and increasing the number of visitors who will fill our hotel rooms and boost our economy.

Importantly, we believe there is a likely and realistic path to operate a profitable arena even in absence of a major league NBA and/or NHL tenant.
In fact, there have been a handful of Midwest arenas constructed and opened since 2000 without a major league tenant in cities such as Omaha,
Des Moines, Sioux Falls, Lincoln, Wichita, and Kansas City. All have demonstrated the ability to operate profitably based on publicly available data.
There is no reason a new arena in Cincinnati, a metropolitan area which is larger than (and in some instances, by many orders of magnitude) the
aforementioned cities, cannot be profitable as well.

The time has come for this generation of City leaders to create a pathway for a new arena. Much smaller cities have passed us by with modern
facilities, and the region suffers as a result from a lower quality of life and lost tax dollars. Visit Cincy respectfully requests City support to conduct a
third-party feasibility study to further explore and develop a detailed plan for how to bring our vision for a new downtown arena to life. We are
prepared to work with regional leaders to determine the scope of the study, timing, and cost, and are confident that a new arena will generate a
multitude of benefits for our city and community today and into our future.

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 Heritage Bank Center is an indoor arena located in downtown Cincinnati, next to the Great American Ball Park. It was
completed in September 1975 and named Riverfront Coliseum because of its placement next to Riverfront Stadium.

Capacity: 17,556
Opened: September 9, 1975
Owners: Anschutz Entertainment Group, Nederlander Organization
Construction cost: $20 million; ($101 million in 2021 dollars)
Architect: Pattee Architects, Inc.
Former names: Riverfront Coliseum (1975–1997); The Crown (1997–1999); Firstar Center (1999–2002); U.S. Bank Arena (2002–
2019)
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 Riverfront Stadium, opened in 1970,
5 years earlier than Coliseum.
It was obsolete and then imploded in 2002 –
now more than 20 years ago.
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 •

There are @ 40 municipal and privately-owned arenas in the US without a

primary NBA/NHL tenant AND with a capacity of 12,000+ (@ minimum req.
to host NCAA first- or second-round games)

Venues opened in the last 15 years (since 2007) reduces list to 7 arenas.

Of those 7, publicly available financial data was available for 5 arenas, of

which 4 demonstrated profitability:

1. KFC Yum! Center (Louisville, KY): $1.8M net income in 2019

2. BOK Center (Tulsa, OK): -$3M net income in 2022
3. Intrust Bank Arena (Wichita, KS): $1.0M net income in 2019
4. Pinnacle Bank Arena (Lincoln, NE): $33K net income in 2014
5. Denny Sanford Premier Center (Sioux Falls, SD): $1.5M / $2.1M net
income in 2019 / 2022

6. Dickies Arena (Fort Worth, TX): No data available

7. T-Mobile Center (Kansas City, MO): Owners say it is profitable, not data
public at this time

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PROPOSED SCOPE OF WORK ESTIMATED TIMELINE
• Conceptual design package including: • 60 days
o Define high-level and preliminary building program
and generate preliminary conceptual building
layouts
o Determine loading and public points of entry
requirements
o Site analysis and site plan indicating adjacent ESTIMATED COST
buildings, major roadways, pedestrian paths,
landmarks and other key relationships • $125,000
o Scaled conceptual building plans and sections
o Development of exterior design look and seating
bowl
o Generate conceptual design story with connection
to the City of Cincinnati
• Conceptual project cost model (hard cost, FF&E, soft
cost)
• Initial booking/venue programming strategy
• Preliminary arena pro forma
• Project financing options/structure

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We have identified a team of experts who have successfully designed and built arenas and stadiums around the world:

Firm (Role) Capabilities Relevant Experience

Visit Cincy is the Cincinnati region’s primary destination Visit Cincy has been in a leadership role for a number of
sales, marketing, and management organization. Its mission significant projects and initiatives over the years. Whether
is to increase economic impact in the region by growing the original expansions of the Duke Energy and Sharonville
visitor expenditures related to conventions, trade shows and convention centers, the World Choir Games, the NAACP
business meetings, and tourism. Our overall goal is to National Convention, Major League Baseball All-Star Game,
support the residents of the Cincinnati region through the current convention district effort, or recruitment of a
increased tax revenue and direct spending in area future National Football League Draft, Visit Cincy has an
Lead Entity businesses by visitors, meeting planners, and convention established and successful track record of partnering with
goers. civic and business leaders to attract world-class events with
significant economic impact.

Machete Group is a leading advisory and development / Machete Group’s portfolio features a wide array of project
project management firm specializing in public assembly types, including:
venues and large-scale, mixed-use districts. Since inception • TQL Stadium; Cincinnati, OH; 2021
in 2007, the firm has managed or acted in an advisory • Chase Center; San Francisco, CA; 2019
capacity on more than $4 billion of project work. Machete • Mercy Health Training Center; Milford, OH; 2019
Group also has extensive experience working with public • Webster Hall; New York, NY; 2019
partners, as well as developing and implementing project- • BSE Global Headquarters; Brooklyn, NY; 2018
Development Manager specific community benefits programs. • Ponce City Market; Atlanta, GA; 2016
• Barclays Center; Brooklyn, NY; 2012
• Cadillac Arena; Beijing, China; 2008

Populous is global design firm with team members spanning Populous’ project portfolio features over 60 arenas around
four continents. They have designed more than 3,500 the world, including:
hospitality, entertainment, and sports projects worth over • Climate Pledge Arena; Seattle, WA; 2021
$40 billion combined and been recognized more than 200 • UBS Arena; Elmont, NY; 2021
times with global design awards, including three national • Fiserv Forum; Milwaukee, WI; 2018
American Institute of Architects awards and listed six times • T-Mobile Arena; Las Vegas, NV; 2016
Design Architect as one of Fast Company Magazine’s most innovative • KFC Yum! Center; Louisville, KY; 2010
companies. • PPG Paints Arena; Pittsburgh, PA; 2010
• T-Mobile Center; Kansas City, MO; 2007
• The O2 Arena; London, UK; 2007

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MAIN ENTRY AERIAL VIEW – GREEN ROOF MAIN ENTRY PEDESTRIAN VIEW

MAIN ENTRY AERIAL VIEW – NO GREEN ROOF NORTH ENTRY PEDESTRIAN VIEW

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Based the team’s deep arena and stadium development experience, we have developed the following conceptual
milestone schedule:

PRE-WORK APRIL TO MAY 2023

• Conduct initial outreach to key public and community stakeholders.
• Develop and publish RFP for project feasibility study.

FEASIBILITY STUDY JUNE TO DECEMBER 2023

• Continue outreach to key public and community stakeholders.
• Conduct feasibility study.
• Select preconstruction partner and generate conceptual pricing model.
• Develop “bottoms up” arena financials.
• Define arena financing strategy.

PRELIMINARY DESIGN JANUARY TO MAY 2024

• Engage key subconsultants.
• Refine conceptual pricing model.
• Advance arena design to support public review and input.
• Detailed engagement with City staff.

ENTITLEMENTS & FINANCING JUNE TO DECEMBER 2024

• Finalize entitlements.
• Finalize project financing.

PREDEVELOPMENT JANUARY 2025 TO JANUARY 2026

• Complete assembly of project team.
• Complete design development (excluding interiors).
• Select construction manager at risk.
• Finalize and buy out early bid packages.

CONSTRUCTION FEBRUARY 2026 TO JUNE 2028

• Commence construction.
• Complete remaining design packages.
• Complete job buyout.
• Deliver project.

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Additional Revenue: We believe a new arena can and will operate profitably even
in the absence of a major league tenant as many comparable facilities in other
Midwestern markets such as Omaha, Des Moines, Sioux Falls, Lincoln, Wichita,
and Kansas City have successfully demonstrated. That, in combination with the
existing 3% Admissions Tax and 10.5% Hotel Lodging Tax, has the potential to
generate substantial value for the County and/or City.

Scenario 1 Scenario 2 Scenario 3

Annual Events 75 100 125
Avg. Tickets Sold/Event 5,000 7,500 10,000
Annual Total Tickets Sold* 375,000 750,000 1,250,000
Avg. Ticket Price $20 $25 $30
Annual Gross Ticket Revenue $7,500,000 $18,750,000 $37,500,000
Annual Admissions Tax Revenue (3%) $225,000 $562,500 $1,125,000
*For reference, more than 1M guests attend events at T-Mobile Center (formerly Sprint Center) in Kansas City each year.

Attracting Events: Cincinnati’s existing modern facilities – or lack thereof –

currently hurt its ability to attract major events, such as the NCAA men’s
basketball tournament. As a result, we are also losing out on millions in potential
tourism revenue associated with those events. Building a new modern arena with
the requisite features and amenities will enable Cincinnati to rightfully and
successfully compete for the biggest national and international events, further
reinforcing its reputation as a world-class city.

Economic Activity: We expect the new arena will have substantial direct and
indirect economic impacts on Hamilton County, the City of Cincinnati, and the
State of Ohio at large. For reference, the estimated economic impact of TQL
Stadium from construction was $140M and from ongoing operations will be
$793M per year. Given that the new arena will cost nearly twice the amount of
TQL Stadium and wages and costs have increased, the estimated economic
impact of the new arena from construction will be in the range of $300M.

Convention Center: A new arena will also allow us to move local events (e.g.,
Boat, Sport & Travel Show) out of the convention center, thus freeing up
additional convention dates for national shows and spurring visitation from out-
of-town guests that will further boost our economy.

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“We firmly support Visit Cincy’s proposal to utilize the Town Center Property for a new
arena. The need for a new arena is now more imperative than ever and with support from
the community, the City of Cincinnati, Hamilton County, the Cyclones’ ownership group,
and Visit Cincy, the pieces are in place for this to be a successful investment in the
community.”
Ray Harris, President

“Huntington has a vested interest in providing financing for the proposed, new downtown
arena to replace the aging Heritage Bank Center. The economics drivers that would result
in the arena’s replacement will have a profound impact to the city of Cincinnati and the
surrounding region.”
David Stiller, Senior Vice President

“I am writing in support of Visit Cincy’s request to the City of Cincinnati to conduct a

feasibility study regarding a new downtown arena for our community. Business and civic
leaders came together a little over a year ago to address another long-term need: the
convention district. Now is the time to embark on a similar process to determine if a new
arena is possible.”
Brendon Cull, President

“I am writing in support of Visit Cincy’s request to the City of Cincinnati to conduct a

feasibility study regarding a new downtown arena for our community. We have seen it
done in other markets smaller than Cincinnati. Unfortunately, Cincinnati now misses the
opportunity to host events because the current arena (and convention facilities) lacks the
required size and amenities.”
Gary Lindgren, President

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