Overview

• The State of Ohio has confirmed a $600 million grant to build a covered stadium for the Cleveland Browns in Brook Park.
• Gateway Economic Development Corporation issued IOUs after reallocating $1.7 million originally meant for broadcast equipment to cover escalator repairs that remain $330,929 over budget.
• Gateway holds $1.1 million in minor capital repair funds while $1.4 million is already committed to essential work such as plumbing and concrete fixes at downtown venues.
• Efforts to expand or eliminate the sin tax on alcohol and cigarettes have stalled despite state authorization for adjustments through 2035.
• Under current lease terms, Gateway is responsible for all repairs at Progressive Field and any repairs exceeding $500,000 at Rocket Arena, intensifying its budgetary strain.