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November 30, 2011
Hamilton County to sell hospital to feed stadiums
The Hamilton County Commission has finally agreed on a plan that would allow them to keep paying off the Cincinnati Reds and Bengals stadiums while still handing out the property tax break that was agreed to as part of the stadium deal (and which is so important to county taxpayers, especially if they're really rich). Under the new plan, the county will sell Drake Hospital to a private corporation for $15 million, helping to close next year's $14 million stadium budget gap.
It's still not clear whether the gambit would be legal — earlier reports suggested that any proceeds from hospital sales are legally required to go to health care — but that's the kind of thing that can be worried about later. Sort of like how the county is going to pay the following year's stadium budget gap, assuming the economy doesn't pick up by then and start generating bucketloads of sales taxes. But surely we don't have to worry about that, right?