Cuyahoga County Details Financing Plans for New Corrections Center

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Media contact: Devyn Giannetti: (216) 225-9813; dgiannetti@cuyahogacounty.us 

 

CUYAHOGA COUNTY, OH – County Executive Armond Budish held a virtual press briefing today detailing financing plans for the new Corrections Center.

The County plans to extend the quarter percent sales tax, which is now primarily paying the bonds issued in connection with the Convention Center. The administration will submit legislation to County Council to seek approval.

The sales tax extension would be used to fund the new Corrections Center. The new Corrections Center will house roughly 1,900 inmates and is expected to open in 2025.

The County will also issue bonds for the cost of the jail project, which is currently estimated at $550 million. Bond anticipation notes will be issued during the construction period. The notes will be converted into bonds once the project is completed.

“The Cuyahoga County Justice Center Steering Committee has been meeting since early 2019 to make critical decisions on the future of the Corrections Center,” said County Executive Armond Budish. “It’s clear from the Committee’s and consultant’s work and expertise that a new jail is needed. This funding plan ensures that our residents will not see an increase in the taxes they’re paying today.”


  
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