Plan would help with stadium fund deficit
Mon August 20, 2012
Proposal could solve stadium fund issue for one year
Hamilton County Commissioners are considering a proposal that would cover the projected 2013 deficit in the stadium fund.
The idea is to take out a kind of insurance policy to cover the bulk of the debt and fund what's left from county reserves.
County Debt Manager Karen McFarland says the deal costs about $300,000 up front.
“It’s a one-year solution. There’s potential for renewal but don’t know and we won’t know until we get there,” she says.
The deal would preserve the property tax rebate for residents the county reinstated this year.
County Administrator Christian Sigman - who isn’t making a recommendation for or against the proposal - says the insurance company, BBVA Compass, wants some assurances.
“When I met with them it was quite clear to me that their expectation was that there would be a long-term solution in the offing. Soon.”
Meanwhile, the Children's Services wing of Hamilton County Job and Family Services says it's seeing success after making changes thanks to an emergency cash infusion from Commissioners.
The board approved $2 million back in April. The money was used to hire additional caseworkers, contract with a transportation service to help kids get to doctor’s appointments or meetings, and improve computer-related tasks and paperwork.
The agency says it has hired 27 people in the last six weeks. More staff were needed to deal with the increasing number and complexity of cases.