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City-county reach $20 million land deal: $17.5 for medical mart ...
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Perk Park.
The park recently was the site of a high-profile, brutal shooting, and the funds would allow the city to remake (and potentially begin to erase) the blight associated with the location, County Commissioner Tim Hagan said.
Cleveland Mayor Frank Jackson called the agreement a local "stimulus package." Forty percent of the Cleveland wants $25 million for the land.
"The mayor was very sensitive to that" need for a fixed price for the convention center land, Commissioner Hagan said.
The county cinched an operating agreement on April 16 with Medical Mart Properties (MMPI). The hope is that the medical mart complex Cleveland a hub for medical conventions and related commercial activity.
County officials had set a deadline of Friday to complete a land deal, saying they would start looking for an alternate site - most likely in the city's hospital-heavy University Circle area - if they couldn't have the convention center property.
There are intrinsic advantages to the old convention center location. One advantage is the accompanying public hall could be used as
Now, MMPI executives must make good on their portion of the deal: convince over the next year 10 tenants to spend three years in the medical mart, and land commitments for five trade shows and another five conferences in the same time period.
Hagan said the county now has the option to choose between purchasing private land or - if negotiations go sour - turning over the adjacent county building to complete the convention center. Next however, will be the final transfer of the title - when
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