Brook Park City Council will hold a special meeting Tuesday night to vote on a pre-development agreement between the city and the Cleveland Browns' development group.
BROOK PARK, Ohio - Brook Park City Council will hold a special meeting Tuesday night to vote on a pre-development agreement between the city and the Cleveland Browns’ development group.
The agreement would set the legal and financial groundwork for a new domed stadium with a capacity of up to 70,000 seats. Under the agreement, Brook Park would issue sales tax exemptions on construction materials used to build the stadium.
“A sales tax exemption is going to be put in place for all the material needed in and around the stadium and in lieu of that the city of Brook Park would be receiving 24.8 million dollars for the start up costs,” said Brook Park Mayor Edward Orcutt.
The Browns’ development group, Primacy Development LLC, would make an upfront payment of $1.8 million, followed by monthly installments that grow over time. The city would receive payments of $250,000 for eight months, followed by monthly payments of $500,000. The final 12 months, ending in June 2029, would see monthly payments of $750,000.
Brook Park is already hiring new staff to handle the massive workload. “We have a projection of 18,000 total inspections that will be needed to build that stadium,” Orcutt said. If council approves the agreement, the city would be one step closer to creating a new community authority to eventually own the stadium site, a key step under Ohio law to unlock additional public financing.
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