Brook Park Mayor Ed Orcutt will seek council approval for a pre-development deal with the Cleveland Browns, including a $24.8M payment plan for city expenses.<\/p>\n
BROOK PARK, Ohio \u2014 Brook Park Mayor Ed Orcutt will ask city council Tuesday to approve a pre-development agreement with the Cleveland Browns<\/a> that will help lay the groundwork for the creation of a stadium authority that would own the facility to be located near Hopkins Airport and lease it back to the team.<\/p>\n As part of the agreement, StadCo, an affiliate of the Browns, would pay the city of Brook Park $24.8 million for “start-up costs and expenses” expected to be incurred by the city from now through the end of 2029. According to an exhibit in the ordinance, the money would be paid out as follows:<\/p>\n \u2014 $800,000 once the agreement is signed As Rich Exner of 3News media partner Cleveland.com<\/a> points out, the Haslam Sports Group has long discussed its plan for a community authority \u2014 overseen by representatives of both the city and the team \u2014 to own the facility. This would be similar to the arrangement that HSG’s Columbus Crew soccer team has with its stadium.<\/p>\n The emergency ordinance is on the agenda for the caucus prior to Tuesday evening’s Brook Park City Council meeting.<\/p>\n As part of the agreement, StadCo would agree to convey the project to either the new community authority \u2014 or the city of Brook Park if the authority has not yet been formed. StadCo, as lessee, would assume responsibility “for operation, maintenance, and management” of the stadium.<\/p>\n Last month, the Browns announced that the Haslam family is increasing its investment in the stadium project to $1.755 billion<\/a>, which team officials say is approximately 67.5% of the total cost of the $2.6 billion facility. Another $600 million is coming from the state of Ohio through the Ohio Cultural and Sports Facility Performance Grant Fund; the state’s plan to use unclaimed funds for the grant\u00a0is being argued in court<\/a>. An additional $245 million is coming from the city of Brook Park through tax revenues generated by the project.<\/p>\n Calling the project “Northeast Ohio’s largest economic development initiative to date,” the Haslam Sports Group says the stadium will be a “world-class venue” alongside “a vibrant mixed-use entertainment district” that “will spur long-term economic growth and celebrate the region’s spirit and identity.”<\/p>\n HSG adds that the 67,500-seat “Super Theater” stadium will be “capable of hosting a wide array of premier large-scale events year-round, including NCAA Final Fours, international soccer matches and concerts for crowds of up to 75,000.”<\/p>\n
\u2014 12 monthly installments of $250,000 starting on May 1, 2026
\u2014 24 monthly installments of $500,000 starting on May 1, 2027
\u2014 12 monthly installments of $750,000 starting on May 1, 2029<\/p>\n