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 has never come close to…
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Cleveland taxpayers voted to build sports venues, not pay for costly upgrades at the teams request
As I have written about in the past here, the Cavs and Guardians have all but hit their 20-year allotted amount (which totaled $260M for all three teams) yet still continue to demand more and more money from taxpayers. The city and county have gotten so desperate that they are approving team requests with no idea how or if the city could even afford it. Have things gotten better in the last few months? Of course not. The Cavs and Guardians want $40M for new upgrades. According to Signal…
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Cleveland will need to find a second source of revenue to pay off more Cavaliers/Guardians/Browns requests
Last year, I wrote a story that discussed how the local sports teams in Cleveland were continuing to fleece local taxpayers year after year. In 2014, the city of Cleveland allowed for an extension of revenue from a sin tax to be put into a pot of $260 million (used over the next 20 years) […]
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