Cleveland City Council, in caucus on Monday, discussed giving $20 million to Gateway Economic Development Corp. to cover debts to the Cavaliers and Guardians for repairs to the stadiums.
The Gateway Economic Development Corporation, which serves as landlord for Rocket Mortgage FieldHouse and Progressive Field, asked Cleveland City Council for $20 million on Monday to help pay its debts to the Cavaliers and Guardians.CLEVELAND, Ohio – The publicly funded entity that serves as landlord for Rocket Mortgage Fieldhouse and Progressive Field is asking Cleveland and Cuyahoga County for $40 million to pay off debts owed to the teams that rent the facilities.
Cleveland officials started discussing ways to cover Cleveland’s half of that bill -- $20 million -- on Monday, but city councilmembers also raised a different question: What if they decline to pay?Gateway looking to Cleveland, Cuyahoga for millions in bailout, funding source uncertainIf you purchase a product or register for an account through a link on our site, we may receive compensation.
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