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October

Every Monday -- News from GCP

CDA investment supports catalytic school
redevelopment project

After nearly 20 years of vacancy, as well as numerous attempts at redevelopment, the Joseph and Feiss complex located on West 53rd Street in the Stockyards neighborhood is finally being revitalized into a catalytic neighborhood asset.

Financing has closed for a $17 million project that will redevelop the building as the new home of Menlo Park Academy (Menlo).

Cleveland Development Advisors (CDA), the Greater Cleveland Partnership’s real estate and business development finance affiliate, provided a $10 million New Markets Tax Credit (NMTC) allocation, Ohio NMTC allocation, and $3.1 million in financing.

Menlo is Ohio’s only tuition-free community school focused solely on gifted learners in grades K-8. It is an approved partner of the Cleveland Metropolitan School District (CMSD), and Cleveland residents are given priority for admission. Read more.

Every Monday -- News from GCP

Focusing on the future, CMSD students pledge
their commitment to graduate

Cleveland Metropolitan School District’s (CMSD) ninth graders who attend Academies of Cleveland (AoC) schools recently pledged their commitment to graduate in a ceremony held at each of the five AoC high schools.

AoC is one component of Pathways Partners, an initiative of the Greater Cleveland Partnership that connects the business community with education providers and students in developing Cleveland’s future workforce. s. Read more.

Above photo:
Students at Max S. Hayes High School participated in their school’s commitment-to-graduate ceremony. Read more.

Every Monday -- News from GCP

Issues vital to Cleveland's economy and future
need voter support

 

Vote “Yes” on Issue 32

The Greater Cleveland Partnership’s Board of Directors formally supported Issue 32 because it would give our city the ability to enhance services, grow and develop our neighborhoods, and it will lessen the impact of other revenue cuts recently imposed on Cleveland. Read more in our blog.

Issue 108 will continue CMSD’s progress

The Greater Cleveland Partnership is urging a "YES" vote on Issue 108, a four-year renewal of the 15-mill operating levy that supports the Cleveland Metropolitan School District (CMSD) with 1 mill set aside for partnering with high-quality charter schools.

Levy funds will provide four more years of financial support for The Cleveland Plan, Mayor Frank Jackson's blueprint for positively transforming the delivery and impact of education for Cleveland’s K-12 students. The levy is vital to continue progress achieved through the plan's implementation. Read more.

Every Monday -- News from GCP

CDA plays key financing role in transformational
Ohio City project

Financing for the $60 million Ohio City project known as w25d has closed and construction is officially underway.

Cleveland Development Advisors (CDA), the Greater Cleveland Partnership’s real estate and business development finance affiliate, provided a $10 million New Markets Tax Credit (NMTC) allocation and $2.5 million in financing.

The project, involving both new construction and historic renovation, will bring 194 apartment units and 50,000 square feet of commercial space to this key intersection. Read more.

Every Monday -- News from GCP

What’s needed to prolong the economic recovery?

Federal Reserve Bank of Cleveland President Loretta Mester spoke last week at the Greater Cleveland Partnership’s Third Quarter Middle Market Forum attended by more than 70 CEOs from GCP/COSE middle-market and small business investor companies.

In her remarks, Dr. Mester said that an increase in the federal funds rate is appropriate and would help prolong the economic recovery.

“The reason I believe a gradual upward path of policy continues to be appropriate and that I favored taking another step on that path in September is because of the realized progress the economy has made on our monetary policy goals and my expectation of further progress,” she said. Read more.