SBD/4/Facilities Venues

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  • CITY PARKING TAX FINANCIAL BACKBONE OF CLEVELAND STADIUM

         The Cleveland Stadium Task Force unveiled their plan to pay
    for the renovation of Cleveland Stadium, home of the Browns,
    through a combination of public and private-sector funding.  The
    Task Force estimated that renovation will cost $154M and
    recommended that the "biggest single source of funding" --
    slightly more than half -- be a new 15% tax on paid, off-street
    parking in the city.  Under the proposal, public funding of $128M
    -- 83% of the $154M total -- would be shared by the city, county
    and state.  Cuyahoga County would contribute $1.8M/year and the
    state $2M/year.  The public funds would go toward "non-
    discretionary" renovation items, including basic structural and
    safety work -- 91% of the total cost.  Task Force Chair David
    Hoag notes that the city, which has received "significant
    economic benefits" from the stadium, has made no investment in
    the facility since '66.  Private money would go toward
    "discretionary" items such as a new scoreboard and video replay
    boards, an improved sound system, new phones, enhanced security,
    new ad panels, and loge renovations (Stadium Task Force).
    

    Print | Tags: Cleveland Browns, Facilities
  • ENTERPRISE ZONE BILL MAKING ITS WAY THROUGH TX LEGISLATURE

         The TX Senate approved a bill allowing cities to create
    special enterprise zones to pay for new sports complexes,
    according to the DALLAS MORNING NEWS.  The measure was backed by
    the Cowboys, Mavs, Stars, Oilers, Rockets and Spurs.  Under the
    bill, cities would be allowed to create a sports authority that
    would set up a "sports-facility enterprise zone to assist in the
    construction or renovation of a stadium or arena."  The bill now
    moves on to the House (Terrence Stutz, DALLAS MORNING NEWS, 5/3).
    

    Print | Tags: Dallas Cowboys, Dallas Stars, Edmonton Oilers, Facilities, Houston Rockets, San Antonio Spurs, Southwest Sports Group
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