The cities of Cleveland and Brook Park are ready to set aside a decades-old dispute over land near Cleveland Hopkins International Airport, striking an agreement that — among other things — will make it much easier to redevelop the I-X Center.
The proposed deal would end longstanding tax-sharing arrangements between the two cities at the I-X Center and a nearby business park. Going forward, the city of Cleveland would keep all the municipal tax revenues from both properties.
In exchange, Cleveland would give Brook Park 34 acres of vacant land and $23.45 million in cash — with $2 million right away for legal fees and the rest spread over 33 years, in annual payments of $650,000…