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Cleveland To Possibly Receive $100 Million In Upgrades, Improvements

KeyCorp CEO Beth Mooney and Cleveland Mayor Frank Jackson (pic: Andrew Samtoy)
KeyCorp CEO Beth Mooney and Cleveland Mayor Frank Jackson (pic: Andrew Samtoy)

From potholes to home demolitions to fixing up garbage trucks, the plan would cover a lot of areas Mayor Jackson says have been in need of fixing up for some time.

Roughly three times more than the city’s average annual request, Jackson says the $100 million would be spent across four areas: roads and bridges; upgrade of city vehicles; facilities upgrades; and finally, neighborhood development.

“We will be investing this in areas that are most problematic in order to encourage, leverage, higher, private investment, as the strategy of moving Cleveland into the future," says Mayor Jackson. "And ensuring that everyone has the opportunity to participate in quality of life and standard of living.”

Joining the mayor are a half dozen regional banking officials, including Beth Mooney, CEO of KeyCorp. She says the public-private initiative is an exciting partnership for banks and the city.

“I think it is critical to our community that we move beyond the central core of our city, and that our neighborhoods get the share of support and the range of investment….that we’re making in other parts of Cleveland, and other opportunities in Cleveland, because indeed, the rising tide for our area and our region will be the ability to support all its citizens and all its neighborhoods.”

The bond issuance proposal will be presented to the city council next Monday. If approved, it would go towards 2015 projects. Mayor Jackson said none of the proposals are related to preparing for the 2016 Republican National Convention.