(Photo by Stark Enterprises)
(CLEVELAND) - The Cleveland Board of Education will hold public hearings starting this weekend on a controversial way to fund the nuCLEus project. Bob Stark, the developer behind the long-discussed project, tells WTAM the 54 story apartment tower slated for the Gateway district would be a catalyst akin to the Tower City project. The development would include retail shops, restaurants, offices, a hotel, condominiums and apartments. The retail and office space, Stark said, is already mostly spoken for. The residential properties, Stark hopes, would be a visible representation of the resurgence of downtown living.
But to pay for construction costs, Stark and his company, Stark Enterprises, wants to use future property tax revenues that traditionally go to the Cleveland Metropolitan School District.
In exchange for forgoing the long-term (and potentially variable) revenue stream, CMSD would receive over $50 million upfront; a much-needed infusion for the cash-strapped district.
In a press release, the district said it will vote on the tax increment financing proposal on Tuesday, Aug. 22. It has also planned a series of public hearings to gauge public sentiment, which are listed below.
Schools CEO Eric Gordon outlines the proposal in a video on the district's website.
Community Meetings:
7/29/17
Saturday 12:00 PM
Max S Hayes High School
2211 W. 65th Street 44102
7/30/17
Sunday 2:00 PM
East Professional Center
1349 E. 79th Street 44103
7/31/17
Monday 6:00 PM
John Marshall High School
3952 W. 140th Street 44111
8/1/17
Tuesday 6:00 PM
John Adams High School
3817 Martin Luther King Jr. Blvd. 44105
8/2/17
Wednesday 6:00 PM
Cleveland School of the Arts
2064 Stearns Road 44106
8/3/17
Thursday 6:00 PM
New Tech West
11801 Worthington Ave. 44111
8/5/17
Saturday 12:00 PM
Patrick Henry School
11901 Durant Ave. 44108
8/6/17
Sunday 2:00 PM
Boys and Girls Club - Broadway
6114 Broadway Ave. 44127