Yesterday, one day after the NEOtrans blog reported that Cleveland Browns owners Jimmy and Dee Haslam were set to announce a $3.6 billion domed stadium complex in Brook Park requiring upwards of $1.1 billion in public subsidies, Browns management issued a long letter to fans that said, well, let’s let it speak for itself:
With Mayor Bibb releasing the City’s latest proposal for a renovated stadium last week and the increased community dialogue around our stadium future, including the possibility of a dome stadium in Brook Park, we feel it is the appropriate time for us to communicate directly and share an update on our stadium process.
Do tell!
We do not take the stadium decision lightly, and have been working diligently with city, county and state officials to consider all opportunities.
Undoubtedly. So what’s the update?
We need to be bold, we need to be innovative, and we need to take advantage of this unique moment to create a transformational project not only for our fans, but for Cleveland, the Northeast Ohio region and the State of Ohio.
Uh, sure, okay. And that project is?
While we have considered numerous sites throughout Cleveland and the region, our focus has been on two potential paths for the future of our stadium.
And the winner is…
While significant work remains, the more we have explored the Brook Park option, the more attractive it has become, and we are excited to share the current vision with you.
It’s Brook Park! Or at least it’s renderings of Brook Park:
That definitely looks like a domed something, somewhere! And only most of the fans came to the game with their identical clones! So how much would it cost exactly?
As demonstrated in other markets, a project of this magnitude only realistically works through a public-private partnership. We have approached this as a 50-50 partnership on the stadium, excluding cost overruns, which we would cover. … The proposed $1.2 billion+ private investment in the stadium is unprecedented and would be the largest private per capita stadium investment ever in this country.
So a 50-50 partnership with a $1.2 billion+ private investment means $1.2 billion+ in public money too?
Importantly, we are not looking to tap into existing taxpayer-funded streams, which could divert resources from other pressing needs. We are instead working on innovative funding mechanisms with local, county, and state officials that would leverage the fiscal impact of the project and the unprecedented private contribution to support the public investment and generate a substantial return for Brook Park, Cuyahoga County, and the State of Ohio. While still in progress, our funding model also contemplates setting aside future dollars generated by the project for stadium repairs and maintenance to help ensure long-term sustainability of the building well beyond the initial lease term.
“Leverage the fiscal impact of the project” doesn’t really mean anything, but presumably this would be some kind of kickback of “stadium-generated” tax money, which usually means money that may or may not be newly generated but which team owners can claim is attributable to the stadium. This is what NEOtrans reported, though “setting aside future dollars generated by the project” is a new twist, as it suggests a grift-that-keeping-on-giving plan where addition future tax dollars would be set aside for future upgrades, a la the Atlanta Falcons “waterfall fund.”
But hang on, I feel like we skipped over something:
We have invested heavily in exploring this path and remain engaged with the City of Cleveland regarding a potential renovation plan, but it remains a complex and challenging proposition.
So: The Haslams would rather get a $1.2 billion check (or more) to build a new Brook Park stadium, but “remain engaged” with Cleveland on renovating their current stadium as a Plan B. That’s not so much a decision as a strategy, but I guess is an update of sorts. Plus, didja see the renderings?
Why are all the fans signaling for a touchdown when the Browns appear to be on defense at midfield? Actually, both teams appear to be on defense — what kind of screwy rules changes does the NFL have in store before this stadium opens?
Will future Browns fans really be purchasing en masse jackets and sweatshirts with the Browns logo on the back, not the front? Will anybody anywhere be going to sporting events wearing that hat? Does the woman with her hair pulled back know that stadium security is never going to let her in with that enormous purse/bowling ball bag?
These are all good questions, or at least enough to distract us from the one about where $1.2 billion in public money will come from, which is the whole point of releasing vaportecture renderings.