Tag: Gateway Economic Development Corporation

Arena

The city of Cleveland continues to see little sin tax revenue all the while the Indians & Cavaliers are demanding $400M in upcoming repairs

Over the last few months, plenty of articles have been written about how exactly the city of Cleveland is going to pay for the millions and millions of upgrades that their local sports owners are demanding. Gateway Economic Development Corporation, the owner of the Cleveland Indians ballpark (Progressive Field) and the Cleveland Cavaliers arena (Rocket Arena), is supposed to pay for venue upgrades with revenues from a 1990 voter-approved sin tax. But the sin tax…

William Neilson Jr.
Arena Ballpark Stadium

Cleveland is consistently paying for arena, ballpark & stadium upgrades. Now, they are approving projects without knowing how or even if they can afford it.

The city of Cleveland is going to pay for upgrades to the Rocket Mortgage FieldHouse, home of the Cleveland Cavaliers. However, the non-profit corporation who decides whether to approve these projects, Gateway Economic Development Corporation, also has no idea how, where or even if they can pay for it. Which does seem to be a slight problem?

William Neilson Jr.