Is The Renaissance of Cleveland a Model for Other Midwestern Cities? (Beavercreek: new construction, schools)

[Min-Chi-Cbus]

Originally Posted by JohnDBaumgardner

It's not a torrent of incoming people "yet" ... but, Cleveland is attracting new residents to its gentrified and renovated urban districts.
Our city centre population is now the 2nd largest in the midwest region, and with massive new residential and commercial development
and redevelopment ... well, the skies the limit!

I don't know what this statement means!

Is it the 2nd largest metro -- no, that's Detroit.
Is it the 2nd largest municipal population -- no, that's probably Indianapolis at 825K.
is it the 2nd largest downtown population -- probably not, Minneapolis is 30K-35K in 1-2 square miles.

Just curious.....but how is Cleveland footing the bill for all of these projects considering that its residential base is declining and I'm guessing the city is facing a budget deficit? Is there a TON of federal stimulus for these projects? Is it privately-financed? I'm curious!!!

[JR_C]

Originally Posted by Min-Chi-Cbus

I don't know what this statement means!

Is it the 2nd largest metro -- no, that's Detroit.
Is it the 2nd largest municipal population -- no, that's probably Indianapolis at 825K.
is it the 2nd largest downtown population -- probably not, Minneapolis is 30K-35K in 1-2 square miles.

Just curious.....but how is Cleveland footing the bill for all of these projects considering that its residential base is declining and I'm guessing the city is facing a budget deficit? Is there a TON of federal stimulus for these projects? Is it privately-financed? I'm curious!!!

Not sure if the answer to your question is in this thread, but you're not the first person to ask:
//www.city-data.com/forum/cleve...ing-money.html

[Min-Chi-Cbus]

The initial Euclid Corridor renewal was funded by the county (RTA) and the Medical Mart is being funded by a 0.25% increase ($0.0025 hike per dollar spent) in county sales tax. Other than this, it's a mix of small grants and private and non-profit investment.

This is the best answer I saw, but it really doesn't explain it very well. A quarter of a basis point tax increase is not going to funds multiple billions (and trillions) in new developments, even with private financing.

I agree..I've been seeing a pattern on this forum that really kinda pisses me off....Everytime new projects come up in Cleveland, somebody comes out of the gutter and talk about "well, how can they afford it".....The statement should be is that "How can the city afford NOT to do these projects"......these projects are bringing in a ton of jobs, not to mention what its doing for people like me who are coming BACK to the city, and the people who are interested in the city......So please think about comments like this before you post

This response is completely out of whack, considering that it's a legitimate question. It's not so much of "why is Cleveland doing so well, damn it!", but more of "how is Cleveland financing their developments when [we] can't get anything passed without public help". It's perfectly legitimate if you ask me, especially if the answer is a major tax hike -- which it sounds like it isn't.

[Traveler87]

Originally Posted by Min-Chi-Cbus

The initial Euclid Corridor renewal was funded by the county (RTA) and the Medical Mart is being funded by a 0.25% increase ($0.0025 hike per dollar spent) in county sales tax. Other than this, it's a mix of small grants and private and non-profit investment.

This is the best answer I saw, but it really doesn't explain it very well. A quarter of a basis point tax increase is not going to funds multiple billions (and trillions) in new developments, even with private financing.

I agree..I've been seeing a pattern on this forum that really kinda pisses me off....Everytime new projects come up in Cleveland, somebody comes out of the gutter and talk about "well, how can they afford it".....The statement should be is that "How can the city afford NOT to do these projects"......these projects are bringing in a ton of jobs, not to mention what its doing for people like me who are coming BACK to the city, and the people who are interested in the city......So please think about comments like this before you post

This response is completely out of whack, considering that it's a legitimate question. It's not so much of "why is Cleveland doing so well, damn it!", but more of "how is Cleveland financing their developments when [we] can't get anything passed without public help". It's perfectly legitimate if you ask me, especially if the answer is a major tax hike -- which it sounds like it isn't.

I could ask the same question about a lot of cities across the country... Funny though how a lot of people doubt success.

[Min-Chi-Cbus]

Not "doubt", just want to know how it's being done. There are lots of projects in the Twin Cities that I'd love to see take off but usually it's difficult to pull the funds together to get it going, even if it's a "slam dunk" project. The Mall of America Phase II and the new Vikings stadium are two such projects, yet Cleveland is finding all of that money and then some somehow. As a prospective Cleveland resident, I'm curious if it's coming out of the taxpayers' pockets.....which I feel is a legitimate question to ask.

[Traveler87]

Originally Posted by Min-Chi-Cbus

Not "doubt", just want to know how it's being done. There are lots of projects in the Twin Cities that I'd love to see take off but usually it's difficult to pull the funds together to get it going, even if it's a "slam dunk" project. The Mall of America Phase II and the new Vikings stadium are two such projects, yet Cleveland is finding all of that money and then some somehow. As a prospective Cleveland resident, I'm curious if it's coming out of the taxpayers' pockets.....which I feel is a legitimate question to ask.

Oh no, I am not saying you. Just the overall perception that's all. Cleveland has a lot of wealthy residents like the Wolsteins, a huge factor to the backing of the Flats East Bank. The county as a whole is taking care of the Medical Mart and Convention Center. I guess there are a lot of people who see Downtown as a place to invest in because of where they see it going in the next decade.

What is the plan for the Mall of America?

[costello_musicman]

Here are a few Projects:

Aquarium -- Jacobs Family
Flats East Bank (21-story office tower + 8 story Aloft hotel) -- Wolstein Familiy + 35 sources
Uptown -- Maron Family
Casino -- Dan Gilbert
Seidman Cancer Center -- Mr. Seidman and UH Hospital
MOCA -- Donations

All of these families have partnerships, but are all led by one family or person

Convention Center/Med Mart -- county tax $$$
Cleveland Museum of Art Expansion -- Endowment $$$
VA Hostpital Expansion -- Federal Government $$$

Most of the Residental is private investment.

[Traveler87]

Originally Posted by costello_musicman

Here are a few Projects:

Aquarium -- Jacobs Family
Flats East Bank (21-story office tower + 8 story Aloft hotel) -- Wolstein Familiy + 35 sources
Uptown -- Maron Family
Casino -- Dan Gilbert
Seidman Cancer Center -- Mr. Seidman and UH Hospital
MOCA -- Donations

All of these families have partnerships, but are all led by one family or person

Convention Center/Med Mart -- county tax $$$
Cleveland Museum of Art Expansion -- Endowment $$$
VA Hostpital Expansion -- Federal Government $$$

What about the art museum? I said this the other day, Cleveland's Museum of Art recieves $600 million dollars a year in endowments. Maybe it is coming from that. Clevelanders truly appreciate the arts scene.

[costello_musicman]

^^ The museum still has a lot of "old money," that was never really touched and worth a lot more today thanks to smart investing and interest:

Cleveland Museum of Art taps a new generation of passionate donors | cleveland.com

But as you can see, people continue to donate.

[Min-Chi-Cbus]

[quote=Traveler87;17864132]Oh no, I am not saying you. Just the overall perception that's all. Cleveland has a lot of wealthy residents like the Wolsteins, a huge factor to the backing of the Flats East Bank. The county as a whole is taking care of the Medical Mart and Convention Center. I guess there are a lot of people who see Downtown as a place to invest in because of where they see it going in the next decade.

What is the plan for the Mall of America?[/quote]

It WAS to double its size, adding things like a wave pool, skating rink, convention area, hotels, offices, etc. The developers want the city of Bloomington or the county to put up public funds for the projects, because it "pays dividends to the area". Most people aren't quite that stupid, so the developers are playing hardball and there is a tennis match between who will support what and what will get built with the funds that ARE available. Now the project is transforming into a hodgepodge of crap.....all because private investors know they can bully the public for funding. And I'm sure it's much much much more complicated than that. The thing is that the Mall of America a.) is already too big, and b.) is ridiculously successful. So if they want to expand, great, but do it with your own investment.