Hamilton County’s attorney notified developers around the Lookouts new stadium at the U.S. Pipe and Wheland Foundry sites off Interstate 24 that taxpayers will see a shortfall of $880,000 per year if development around the stadium is not completed on the city’s timeline.
The Lookouts are getting a new $115 million stadium that was funded mainly through tax money with a plan to have that amount repaid through tax collections at the site.
That plan was criticized by experts contacted by The Center Square in 2022 as not presenting realistic numbers before it was approved. At that point, the plan called for an $80 million stadium.
Hamilton County Attorney Janie Parks Varnell wrote a letter to developers dated Thursday saying that the private development around the stadium does not appear to be proceeding according to schedule.
