![Artist's rendering of nuCLEus project. [Stark Enterprises]](https://npr.brightspotcdn.com/dims4/default/02f5f89/2147483647/strip/true/crop/2337x1278+0+0/resize/840x460!/format/webp/quality/90/?url=http%3A%2F%2Fnpr-brightspot.s3.amazonaws.com%2Flegacy%2Fuploads%2F2017%2F8%2F08%2FNucleus_distance_web.jpg)
A proposal to cut the property taxes on a new high-rise project in downtown Cleveland is now up for discussion at the city’s board of education, with a vote planned later in the month.
Normally tax incentive financing, or TIFs, are awarded by city council from the share of taxes going to the city. Aside from projects in 2005 and 2006, in the Flats and near the VA Hospital, taxes going to schools are not touched.
The school district held eight public hearings and a survey to gather public opinion on the NuCLEus development. A majority of the responses supported the $500 million project - a downtown high rise with apartments, hotel rooms and shops near the sports stadiums.
The developer – Stark Enterprises – would pay $18 million in taxes up front for school construction instead of $120 million over 30 years into the general fund. Opponents says they’re foregoing millions of dollars that could be invested in operating costs. Supporters argue that without the tax incentive, the project wouldn’t happen. So the schools would get nothing.
The school board is scheduled to vote August 22 nd. City council and Mayor Jackson have final say over the deal and they have yet to take it up.
