(CLEVELAND) - Cuyahoga County Council, by a vote of 8-3, has approved a plan to borrow funds for the $282 million transformation of Quicken Loans Arena.
It's a big win for Quicken Loans Arena and the Cleveland Cavaliers, but team CEO Len Komoroski feels it's a victory for the taxpayers as well. He maintains that the "Q" creates jobs and boosts the local community while it generates new tax revenues.
Critics maintained that taxpayer dollars should not be used to fund the renovation of the Quicken Loans Arena, and that Cavs owner Dan Gilbert should pay for it.
Councilman Jack Schron voted no, concerned that state budget cuts may be on the way, which could put a strain on the county finances. Others said county neighborhoods are in decline and face many challenges that need to be fixed first.
Voting in the majority was County Councilman Pernel Jones Jr. He contends, improving the "Q" will boost the local economy. The issue now goes to Cleveland City Council, which has to approve using city admission taxes to help cover repayment of the bonds.
(Photo courtesy Cleveland Cavaliers and theqtransformation.com)