SBD/4/Facilities Venues

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).
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Related Topics:

Cleveland Browns, Facilities

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