Cincinnati Mayor John Cranley to announce FC Cincinnati stadium finance package Friday

Mayor John Cranley will unveil his plan Friday for the city to help fund the FC Cincinnati soccer stadium.

Cranley told The Enquirer he will pitch his stadium finance plan late Friday afternoon, but declined to reveal any details of it.

Any plan the mayor develops must be approved by city council.

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FC Cincinnati General Manager Jeff Berding has asked city and county officials for about $75 million in public money to build the infrastructure for a new stadium, possibly in Oakley.

The other alternative presented has been Newport.

Berding insists a soccer-specific stadium is needed to secure a spot as a Major League Soccer expansion team. The MLS is scheduled to choose the new expansion teams in mid-December.

Hamilton County Commission President Todd Portune said the first option for the team should be playing its games in Paul Brown Stadium, but said if that plan is rejected, the county would use $15 million in parking revenue to help build a 1,000-spot parking garage for the new stadium.

Cranley has said tax incremental financing (TIF) dollars could be used to support the stadium. That money would be borrowed against future property taxes paid by the stadium owners.