Tax incentive extended for the Flats East Bank project
City Council to protect the investment already made and to ensure the project moves forward allows for the extension to allow the developer to restructure debt.
Tax incentive extended for the Flats East Bank project By Brian Duffy | December 10, 2020 at 8:34 PM EST - Updated December 10 at 8:34 PM
CLEVELAND, Ohio (WOIO) -At issue was should the city extend, for another 30 years, a tax incentive that would allow the Wolstein group to restructure their debt, owed by the developer, to the city, to keep the Flats East Bank project on track.
Councilmember Jenny Spencer felt the decision was being rushed and pushed back.