Cleveland Guardians finalize agreement to extend Progressive Field lease
Автор: WKYC Channel 3
Загружено: 2022-01-27
Просмотров: 886
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Nearly six months after it was first announced, the City of Cleveland and the Cleveland Guardians have finalized their agreement to extend Progressive Field's lease.
The agreement, which will extend the ballpark's lease through 2036 with the potential for an additional 10 years after that, is a public-private partnership that will generate $435 million in funds over the next 15 years.
Of that money, $202 million is expected to be spent on significant renovations for the ballpark, which are expected to begin no earlier than the conclusion of the 2022 MLB season.
The agreement, which was approved by the Cleveland City Council in November, will not include a tax increase for residents.
The City and County collectively will contribute $17 million annually, the State will contribute $2 million annually and the Guardians will contribute $10 million annually for measures including "fan friendly and baseball/front office operations improvements and necessary funding for capital repairs, maintenance, Gateway operations, and property taxes."
READ MORE: https://www.wkyc.com/article/sports/m...
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