Cleveland Mayor Frank Jackson’s administration and the Cleveland Browns briefed city council members on the details of the Browns’ proposed $120 million stadium improvement plans.
Mayor Frank Jackson and Cleveland Browns CEO Joe Banner held at press conference Tuesday afternoon.
The Cleveland Browns want $30 million worth of public money for the planned improvements to FirstEnergy Stadium
The Browns are paying all the costs upfront. They are borrowing money to do that. That includes a $60 million loan from the NFL to the Browns that was recently approved. And they will ultimately pay the lion’s share of the expenses.
The facility is 15 years old, built with taxpayer money when Cleveland was awarded an expansion franchise in 1998.
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article courtesy of Wkyc.com
LOCAL NEWS: City, Browns Disclose Stadium Improvement Cost Details was originally published on praisecleveland.com
