Clock is ticking on Music Hall renovation deal.

The group tasked with overseeing the massive renovation of Music Hall has said that the time to act is now. Meanwhile, prominent arts philanthropists have said that they not only want to see the City of Cincinnati contribute $10 million to the project, but also give up ownership of the historic structure to the management group. More from the Cincinnati Business Courier:

Music Hall Revitalization Co. (MHRC) President Jack Rouse has said his group will dissolve if the deal isn’t done by June 1. The nonprofit was formed in early 2010 to jump-start the renovation project, which had been talked about for years. Devey said dissolution of MHRC would be a real loss for the effort to restore Music Hall, which has serious maintenance problems that need to be fixed no matter what.