Source: The Washington Post / Getty
CLEVELAND, Ohio — Cleveland leaders announced Monday three changes to the proposal to renovate Quicken Loans Arena.
First: The Cleveland Cavaliers have guaranteed that for every dollar of admission tax that goes to debt financing of the Q restoration project, a dollar will go the city’s general fund.
Second: The Cavaliers have agreed to restore every surface of every basketball court in Cleveland’s recreation centers throughout the city.
Third: The Cavs are going to partner with Habitat for Humanity, and use proceeds from watch parties to work with Habitat to restore 100 homes in three years in our communities.
Cleveland City Council postponed a vote last week and scheduled it for tonight.
The project would add a glass enclosure and expand the building.
Funding on the $140 million project would be split among the Cavs, Cuyahoga County and the city.
County leaders approved the proposal last month.
While it’s expected to pass, those against the project say the money should be used in struggling communities that surround the downtown area.
Cleveland’s share of the project would be about $88 million paid over 11 years starting in 2024.
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Article Courtesy of WJW Fox 8 News Cleveland
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