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Tuesday, October 28, 2008

Ordinance 46-08

Ordinance 46-08 is another piece of the mystery surrounding the financial charades at Cedar Center. The Cleveland Heights/University Heights School Board has yet to sign off on any "TIF" agreement with the City of South Euclid.

Below Ordinance 46-08 are a few excerpts from the "PROJECT DEVELOPMENT AGREEMENT AND CONTRACT FOR SALE OF LAND" signed in October 2007 by The Coral Company and the City of South Euclid.

To see the entire text of the development agreement, please click on the following link:

Please click on each image below to view full size.

2 comments:

Anonymous said...

So, now the East Bank of the Flats project has been put on hold (read: indefinitely canceled) along with the Solon redevelopment project.

How long before Cedar Center gets the same treatment?

Anonymous said...

Another great adventure our leaders have gotten us into.Maybe our brilliant,business savvy,council and Mayor thought they could finance this "boondoggle" with the money (which,hopefully they will not be getting)from "the point of sale" tax they think will pass.Or maybe the overflow of donations from "the playground of impossibilties" would be sufficient.Terribly wrong on both counts.These political hacks are playing so far out, and over their abilities it's laughable.Except for the fact that you and I,the taxpaying residents,will eventually get stuck with the bill from these "adventures of amateurs".We are so doomed!!!
And somehow it is our own damn fault for electing these clowns.I've excepted the fact that no matter who we elect,we get screwed.How can that be?I'm totally disgusted.Our choices are,bad,worse,and certain doom.Take your pick,flip a coin,we're screwed no matter what.Wasn't there an old quote "my kingdom for a wiseman",something to that effect?

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