After months of chatter about it and lots of controversy, last night Cleveland City Council approved the renovation deal for Quicken Loans Arena Monday night by a vote of 12 to 5.
The vote went the way owner Dan Gilbert wanted it to, as the arena will get a $140 Million renovation.
Twelve votes secured The Q’s future, while five votes opposed the decision.
Council President Kevin Kelley says the Cleveland Cavaliers are “stepping up their ongoing commitment to the City of Cleveland.”
Project plans include a major structural enhancement and update that remedies original structural shortcomings of the facility.
There was three changes to the proposal to renovate Quicken Loans Arena that came down earlier on Monday.
First of which is the Cavs have guaranteed that for every dollar of admission tax that goes to debt financing of the Q restoration project, a dollar will go the city’s general fund.
The team also will restore every surface of every basketball court in Cleveland’s recreation centers throughout the city.
As well the Cavs will partner with Habitat for Humanity, and use proceeds from watch parties to work with Habitat to restore 100 homes in three years in our communities.
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