June 23, 2010 – The Cleveland-Cuyahoga County Port Authority today initiated a comprehensive review of its business that will help determine dredging solutions, its best role in the maritime industry and future facility needs. By year-end, the port will have new, crucial information that is needed to chart a clear and aggressive course for maximum economic and community benefit.
“This is a critical milestone for this community,” said Will Friedman, port president and CEO. “We have big decisions with substantial economic consequences for the entire state that need to be made, but we don’t at this time have many of the facts to intelligently make these decisions. Soon, we will.”
June 8, 2010 – The Cleveland-Cuyahoga County Port Authority’s board of directors today agreed at a special meeting of the board to provide up to $75 million in financing for the expansion of the Cleveland Museum of Art.
The Port will issue up to $75 million in bonds for the $350 million expansion and renovation project so that construction may continue and be completed by 2013. The museum has raised $220 million toward its $350 million campaign and plans to raise the additional $130 million by 2014.