CINCINNATI, OH (FOX19) - Cincinnati City Council's finance committee has approved a 75-year lease with Music Hall.
The City Planning Commission voted unanimously Friday to approve the lease terms.
The Music Hall renovation company has been waiting for the ink to dry on this lease to start fundraising for the $95 million renovation.
The lease term is for 75 years and requires the Music Hall Revitalization Company to "continuously" use the building as a "first-class performing arts and entertainment facility".
Under the lease, the tenant is forbidden from changing the name of the building without the City's consent.
Rent will be $1 a year, and the city will pay up to $400,000 over the next two years to help out with repairs and improvements.
Full council will vote on the measure on Wednesday.