Well after several months of wrangling, the Medical Mart will be coming to Cleveland.
According to the news release, Merchandise Mart Properties Inc.(MMPI) will chip in $20 Million. Add that to the money collected from the 1/2 percent sales tax to encourage the development of the Medical Mart and Convention Center and its going to be built.
The next question is where will it be built, that has yet to be determined. I am sure that will take another six months to decide, thereby allowing the county to keep piling up the cash from the sales tax increase.
Let the rebuilding of Cleveland begin again!
I just don't see this being a money making project for the City. I have a feeling that within five years MMPI will tell everyone in Cleveland that they will have to sell or close it up, if they don't get some type community financial support.
So, don't expect the sales tax increase from last year to go away anytime soon!
Thursday, March 13, 2008
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