CLEVELAND, Ohio (WOIO) - Several high profile Ohio sports teams CEOs and presidents have sent a letter to Gov. Mike DeWine and legislative leaders in support of the current plan to use unclaimed funds for stadium projects.
Teams like the Cleveland Guardians, Cincinnati Reds, the Rock Entertainment Group (Cavaliers) and the Columbus Blue Jackets are offering “strong support” to use $1.7 billion and create the Stadium and Cultural Fund.
Of that pot of money, $600 million would be used for the Browns Brook Park project and paid back with the increased tax revenues generated over 16 years.
If approved, the rest of the money would be issued through an appointed commission to future projects around the state.
“Studies prove that our teams attract tourism, create new spending, and help our cities and regions compete for talent and business investment,” the letter reads.
The idea of using money from Ohio’s Unclaimed Funds has been passed by the Ohio Senate, but still needs to work through conference committee, voted on by the House.
The final hurdle would be DeWine’s signature as apart of House Bill 96 biennial budget.
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