Public Funding Debate Surrounds Proposed $2.4 Billion Cleveland Stadium

The Cleveland Browns have unveiled plans for a new domed stadium near Cleveland Hopkins International Airport in Brook Park, with an estimated cost of $2.4 billion. Stakeholders are currently deliberating on how to fund the project, as the Haslam Sports Group, owners of the Browns, have proposed that taxpayers cover half of the expenditure.

The design for the Brook Park project showcases a stadium positioned approximately 80 feet below ground level, accompanied by a mixed-use development including offices, a hotel, retail spaces, apartments, and around 14,000 parking spaces. The project is envisioned on a site that formerly hosted an automotive plant, previously sold by Ford Motor Co. to industrial real estate developers in 2021. Recent developments indicate that Ford has lifted deed restrictions on the land, enabling broader development possibilities after remedial actions approved by the Ohio Environmental Protection Agency.

The funding strategy is yet to be finalized, but a key aspect involves the Haslams sharing costs with the public sector. Local taxpayers would bear a significant portion, ostensibly through new tax revenues generated by the project, such as admissions, income, parking, hotel, and property taxes. This model would potentially involve public entities issuing bonds, with debt repayments derived from the anticipated tax income linked to the project.

Previously, the Browns owners sought a balanced financial responsibility, requesting $600 million from state resources alongside $600 million from local government allocations. However, Cuyahoga County Executive Chris Ronayne has expressed concerns, describing the financial demands as overwhelming for the county, urging reconsideration of maintaining the team’s presence at its current downtown location.

Brook Park Mayor Edward Orcutt remains optimistic about the potential economic benefits, describing opportunities for revenue growth across the region. However, discussions continue as the timeline demands hasten; the Browns’ lease on their current stadium, owned by the city of Cleveland, concludes after the 2028 season, aiming for relocation by 2029. Construction itself is projected to span three years.

Ownership of the Brook Park site remains under negotiation, with Primacy Development LLC, associated with Haslam Sports Group, holding the option to purchase the land up until the end of 2025. Current property holders include Weston Inc., DiGeronimo Companies, and Scannell Properties, supported by a significant loan from a Haslam-linked entity.

The city’s future relationship with the Browns remains uncertain, intertwined with broader plans for the downtown lakefront area. Cleveland’s lakefront redevelopment endeavors envisage a transformation incorporating public spaces, a hotel, apartments, and extensive community amenities, irrespective of the Browns’ potential departure from the location.