And as economists have been screaming at us for years, even if the stadium somehow were to generate the revenue to pay off bonds, it would come *AT THE EXPENSE OF* the rest of the region.
I.e., it would leech spending (and tax revenue) from elsewhere.
As we know, these projections (courtesy of the teams) are always outlandishly overestimated to justify public subsidy. They never generate anywhere close to what they guarantee. (Remember when Gateway promised 28,000 jobs for Jacobs Field and Gund Arena???)
The team is merely saying the stadium and surrounding new development will generate sufficient tax revenue to make the state's "investment" worth it.
FYI: The $600 million in state-backed bonds for Browns stadium in Brook Park (which will cost Ohio taxpayers $1 billion+ after interest) will not be *repaid* by Browns in the way that you or I repay a loan.
Tanmay Shah, an Indian immigrant attorney and organizer, is running for Cleveland City Council in the new Ward 12.
It's the most explicitly leftist campaign to date in 2025. www.axios.com/local/clevel...
Austin Davis, a policy advisor to Mayor Justin Bibb, has announced his candidacy for Cleveland City Council in the new Ward 7 (the seat to be vacated by Kerry McCormack). www.axios.com/local/clevel...
25-3: Iron Flame, by Rebecca Yarros
25-2: The Incendiaries, by R.O. Kwon
Cleveland Public Library CEO Felton Thomas sent memo to staff instructing them not to intervene in ICE arrests at local branches.
Actions "could be viewed as obstruction of justice or harboring an undocumented immigrant, both of which are serious criminal offenses."
www.axios.com/local/clevel...
Just got this tip from an airline pilot
Pay dirt alert. Insane trove of Redwall titles at the Little Free Library at Franklin and W. 65th.
Cleveland will open its first seasonal shelter of the year Sunday. Next week's forecast and public pressure from NEOCH accelerated plans. www.axios.com/local/clevel...
There is only one Fortune 500 company with "Cleveland" in its name, but that could change if Cleveland-Cliffs' bid for U.S. Steel is successful. www.axios.com/local/clevel...
Cuyahoga County Exec Chris Ronayne met w/ Jimmy Haslam + Browns leaders Monday and reaffirmed preference that stadium remain on lakefront.
When I asked him if he could envision scenario where county dollars go to Brook Park, he said, "not at this time." www.axios.com/local/clevel...
Who says no? #NBA #JimmyButler #Heat #Suns #Pistons
Cleveland City Council has voted to pass the new ward map introduced last month (reducing council from 17 seats to 15, in accordance w/ charter).
Councilwoman Rebecca Maurer and Councilman Brian Kazy vote No.
Mike Roberts, one of the most important Cleveland journalists of the 20th century, has died at 85.
He was The Plain Dealer's Vietnam correspondent & city editor; went on to edit Cle Mag for 17 yrs, turning it into one of the country's best regional titles. clevelandmagazine.com/in-the-cle/t...
Sad to read the Boardwalk is now closed. The Boardwalk. 16011 Waterloo Rd. Collinwood. Cleveland.
24-20: The Message, by Ta-Nehisi Coates
Situation is similar in Cleveland. Obvious explanation that nevertheless is lost on the media personalities / podcast hosts talking about rule changes, uniform aesthetics and attributes of European vs. American stars.
If Haslams were to get the full subsidy, then cough up $50 million for existing stadium demo or lakefront development... that would net them $1.15 billion.
Remember, they are making this sacrifice out of the goodness of their hearts. They are our PARTNERS.
Everyone should be cackling at notion that the Haslams — currently seeking $1.2 billion in public subsidies to move from an existing publicly funded facility to an even gaudier one — "won't respond to extortion." neo-trans.blog/2024/12/15/a...
24-19: Small Things Like These, by Claire Keegan
24-18: The Hundred Years’ War on Palestine, by Rashid Khalidi.
Cleveland City Council's huffing and puffing but ultimately voting in favor of a $20 million handout for stadium repairs reminded me of a similar vote in 2020, when they OK'd a 60-year TIF for the Flats East Bank project.
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