Cincinnati's Riverfront: A Tale of Imbalance

Cincinnati's riverfront, known as The Banks, has been a point of contention between the city and Hamilton County for years. The issue isn't a mystery, but a simple case of mismatched incentives and unequal benefits. The city and county agreed to split costs 50/50, but the rewards aren't shared equally. The city gains the most from new developments. It gets more income taxes from new residents and workers. It also benefits from increased sales and a growing downtown population. The city wants tall buildings and dense development to create these benefits. The county, however, has a different story. It covers a larger area, and most residents don't see direct benefits. They don't get new income taxes or a new downtown population. County leaders have to explain why tax dollars should fund a district most residents rarely visit. This imbalance causes tension. The city wants bold developments, but the county is hesitant to take on financial risks without equal rewards. The county wants to pull back, while the city pushes forward. This cycle has kept The Banks stagnant for decades. To move forward, the structure needs to change. The city should bear more of the cost since it gains more. In return, it should have more control over planning and design. The county should contribute based on the benefits it receives, like increased sales tax and property values. Until this imbalance is fixed, the same disagreements will keep popping up. The Banks isn't a mystery. It's a math problem. One partner pays as much as the other but gets far less in return.