Ohio lawmakers approve $600M for Cleveland Browns domed stadium in Brook Park and Modell Law update скачать в хорошем качестве

Ohio lawmakers approve $600M for Cleveland Browns domed stadium in Brook Park and Modell Law update

As expected, Ohio lawmakers approve the state's reconciled budget on Wednesday, which includes allocating $600 million in unclaimed funds for the proposed Cleveland Browns domed stadium in Brook Park. Both chambers of the Ohio General Assembly passed HR 96, appropriating funds for fiscal year 2026-27. The measure will now go to Gov. Mike DeWine's desk for signature. DeWine must decide whether to sign it or make line-item vetoes by June 30. The Haslam Sports Group's plan for Brook Park calls for a $2.4 billion domed stadium to go with a mixed-use development that is slated to cost roughly another billion. HSG, along with their development partners, have committed to invest more than $2 billion in private capital and are seeking public funding for the remainder of the bill. Following the General Assembly's reconciliation process, lawmakers opted for the Ohio Senate plan, which calls for the utilization of the state's $3.7 billion in unclaimed funds to create a "Sports and Culture Facilities Fund." The Browns' $600 million "performance grant" would be paid back to the state through tax revenues generated by the stadium and mixed-use development over 16 years. To protect the state's investment, GOP Senate lawmakers say the Haslam Sports Group would put $50 million into escrow that could be tapped into if revenues fall short of projections. If that $50 million is used early, the Browns have also committed to providing another $50 million through a line of credit. While lawmakers were voting, Cuyahoga County Executive Chris Ronayne called a press conference to again express his opposition to the state giving the Haslam Sports Group $600 million. He also took aim at lawmakers for their decision to make changes to the so-called Modell Law, a statue was passed by the Ohio General Assembly in 1996, a year after Art Modell moved the original Browns from Cleveland to Baltimore. Lynna Lai reports: https://www.wkyc.com/article/sports/n... -- At 3News, we’re not here to tell you the news, we’re here to share the stories that you say matter most to you. Share your ideas, thoughts, concerns and engage in conversations about the communities in which we all call home. Follow 3News on Social: Facebook:   / wkyc.channel3   Twitter:   / wkyc   Instagram:   / wkyc3   Visit our site: https://www.wkyc.com/ And be sure to download our app here: https://wkyc.com/app