CLEVELAND, Ohio -- Cuyahoga County Council passed a resolution Tuesday evening to borrow money to fund the transformation of Quicken Loans Arena, which will mean issuing $140 million in bonds.
The total cost of the project is $282 million, and will be split by the county, the Cleveland Cavaliers, the city of Cleveland and Destination Cleveland.
The issue had drawn crowds to council for weeks. Greater Cleveland Congregations argues that any deal approved by the county and city should include a separate, dollar-for-dollar match of all public investment into a Community Equity Fund. The group traveled to Detroit last week to push Cavs owner Dan Gilbert on the fund.