Door Open to Revive Q Renovation Deal

[Nick Castele / ideastream]

Greater Cleveland Congregations has withdrawn its petitions for a referendum on public financing to renovate Quicken Loans Arena..

GCC and Cuyahoga County have reached an agreement to commit additional funds toward mental health and substance abuse treatment.  The county did not commit to an exact dollar amount or how the money would be invested.

A statement from GCC estimates the cost of two centers at $10 million plus an estimated $1.4 million in annual costs for each location, but GCC says "We recognize the county's intent to further research these investment costs and search for best practices."

GCC was one of the leaders in seeking a referendum on the public/private financing deal between the city of Cleveland, Cuyahoga County and the Cavaliers.  The group collected more than 13,000 valid signatures to bring the issue to a vote.

GCC had sought a community benefits package from the city, money that would have gone to neighborhoods in need.

Earlier this week Cavaliers owner Dan Gilbert withdrew his team's participation in the $140 million project saying the construction delay caused by the referendum would have increased construction costs.  Gilbert's withdrawl led to speculation the team could leave town.

Today, Gilbert tweeted that he would "never" move the Cavaliers out of Cleveland.

 

The financing deal would have extended Cleveland's admissions tax on tickets to the Q. A portion of that money -- about $88 million over 11 years -- would help pay the renovation. Cuyahoga County and Destination Cleveland would have also contributed to the renovation. The Cavaliers would extend its lease from 2027 - 2034.

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