DevelopOhio

Cuyahoga County Council gave a big boost to the city of Euclid’s waterfront improvement plan recently, when the Council approved a $4 million loan from its casino fund for the project, Cleveland.com reports. The loan will be used for “a three-quarter-mile lakeshore walkway and beach where visitors can launch kayaks and small sailboats,” according to the article. Euclid’s $10 million project is the first development project outside the downtown Cleveland district to receive a loan from the casino fund. Cuyahoga County receives “about $7.3 million a year in casino taxes,” but until July 2015, the County Council “could not spend funds on economic development projects outside downtown.” Shaker Heights Mayor Earl Leiken is also seeking a loan from the Council for the $91 million Van Aken District redevelopment project. Leiken said the $4.3 million loan would “leverage more than $6 million in city investment and $75 million in private investment,” while the development “will add 450 permanent jobs and 665 construction jobs.” The council committee voted to move Leiken’s request to the full council. For more, read the full article.