Government officials wanted to transform the public square in the city of Cleveland, Ohio and estimated the entire cost to be around $32 million. The proposal faced a lot of opposition and criticism because there was no clarity on how funds would be raised and if the proposed project would get completed as per plan.
City and county officials managed to raise around $24.5 million for the public square project as wealthy donors, generous foundations and the Northeast Ohio Regional Sewer District made significant contributions. The remaining amount of $7.5 million was finally raised this weekend when the city of Cleveland, Cuyahoga County and Rock Ohio Caesars LLC – owners of Hard Rock Rocksino Northfield, decided to join forces and meet the remaining $7.5 million.
In a statement, Rock President Matt Cullen said “The Public Square transformation is another great example of public and private sectors working together and building the city’s momentum. Transforming Cleveland’s Public Square into an engaging and vibrant destination will enhance the community and will make it an attraction for the region. We applaud all of the public and private leaders that are dedicated to the city’s tremendous growth and progress.”
The deal was made possible after all three parties were in final agreement with the proposed terms and conditions. By spreading the costs and the risks involved in the public square makeover, city and county officials have also spread the responsibility making it a mutually beneficial project for the people of Cleveland.
The contractors have been finalized for the construction of the public square and work is expected to start very soon. The city will also need to work out the costs involved in maintaining the new public square and how those funds are going to be raised in the long run. The city plans to use the new public square to host events and activities that promote the city of Cleveland.