CLEVELAND – The Cleveland Metropolitan School District board will not be voting on the $250 million nuCLEus project at Tuesday’s board meeting as originally planned.
The project, being developed by Stark Enterprises, would add a 54-story tower complete with businesses, restaurants, a hotel and apartments.
CMSD said a meeting is being scheduled between city and county officials and Stark Enterprises in an effort to ensure all parties have a clear understanding of the project.
Before voting, CMSD requested to be included in the meeting. Once the meeting of public stakeholders and Stark Enterprises occurs, the district will update the public on the project.
In the proposal, CMSD would forego roughly $121 million in tax revenue for the next 30 years. In exchange, the district would receive $18 million payout up front.
If the plan is not accepted, the project could fall through.
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Article Courtesy of WEWS News 5 Cleveland
Picture Courtesy of David Shvartsman and Getty Images