Cleveland City Council Moves Arena Upgrades Closer To Approval

The Cleveland City Council yesterday moved a plan to commit $88M in tax revenues toward Quicken Loans Arena upgrades "one step closer to passage," but fell "one vote short of being able to approve it immediately." The body voted 11-6 to "suspend its rules on an ordinance that will contribute a share of the admissions taxes generated by events at The Q toward the debt service on the project." The deal affects admissions taxes from '24-34. The ordinance now "will require a third and final reading April 17, when it likely will be approved easily" (Cleveland PLAIN DEALER, 4/11).