Particle.news
Download on the App Store
20 ARTICLES
·
4d ago

Ohio Senate’s $600M Unclaimed Funds Proposal for Browns Stadium Awaits DeWine’s Decision

Governor Mike DeWine is reviewing the plan to use idle state unclaimed property funds for the Browns’ dome project in Brook Park, triggering resistance from Cleveland and Cuyahoga County officials who favor keeping the team downtown.

Image
Image
Image

Overview

  • The Senate budget would tap $1.7 billion from Ohio’s $4.8 billion unclaimed property fund to establish a sports and culture facilities pool, including a $600 million grant for a new Browns stadium.
  • Under the proposal, Browns owners Jimmy and Dee Haslam must place $100 million in escrow and repay the state grant with stadium tax revenue and development profits over 16 years.
  • Legislators included a provision guaranteeing the Browns continue to receive one-third of Cuyahoga County’s sin tax revenue after any move to Brook Park, and they may seek voter approval to double the county liquor tax for stadium upkeep.
  • The plan, part of a broader budget that also delivers $1.4 billion in tax cuts largely benefiting higher earners, faces a June 30 deadline and awaits DeWine’s approval.
  • Cuyahoga County Executive Chris Ronayne and Cleveland Mayor Justin Bibb oppose the Brook Park relocation funding and are pressing for downtown stadium renovations instead.