Sunday, November 24, 2013

Browns Stadium Lease Analysis - Section 14. Capital Repairs

The following is an attempt to review, analyze and excerpt important portions of the lease that should be considered in reviewing the Browns proposed $120 million Capital REpairs and Improvements.

See the previous post - Browns $120 million proposed capital improvements, Ordinance #1578-13: Join the conversation at the Civic Commons, for a description and explanation of my perspective of the proposal and the ordinance to be considered by Cleveland City Council commencing at 9:30 am tomorrow, Monday, November 25, 2013.

To review the copy of the lease as well as summary information about the cost of construction and revenue and expense information, see the post from January 18, 2013 - Cleveland Browns Stadium gets new name as old sin tax expires in 2015.

For those interested in following the Council proceedings, the morning Committee meeting will be streamed live on-line beginning at 9:30 am - on the City's TV20.

The meeting at 7:00 pm will not be streamed.  Both the morning Committee and evening Council Meeting are public meetings and all are invited to join us.  No public comment can be made at either meeting, although the Chair of the committee meeting in the morning, can agree to allow public comment if scheduled and arranged before hand.

It is expected that Council leadership will call for a vote on the Ordinance under an Emergency vote at 7:00 pm, during the regularly scheduled Monday evening meeting in Council Chambers.  That vote, if sought, will require a two-thirds majority, or 12-votes (It is anticipated that one members - Reed- will be absent), conversely it will take 7-votes to block the vote for the emergency measure, which would thereby postpone a vote on the Ordinance.

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