Redevelopment Proposed for Vacant Building on Central Avenue
The City of Cleveland is considering an emergency measure to provide economic development assistance for a vacant building at 7000 Central Avenue. Through Ord. No. 1377-2026, the Director of Economic Development would be authorized to enter into loan and grant agreements with HOVR Holdings LLC, or its designee, to help finance the acquisition and renovation of the property.
What's in the file
The proposed emergency ordinance authorizes two specific types of financial assistance to support the redevelopment of the site at 7000 Central Avenue:
- A forgivable Urban Development Action grant Repayments loan agreement with HOVR Holdings LLC, or its designee.
- A non-forgivable EDA Title IX loan with HOVR Holdings LLC, or its designee.
These funds are intended to cover the costs of acquiring and renovating the vacant building, as well as "hard and soft costs" and other expenses required for redevelopment. The assistance also extends to the acquisition of machinery, equipment, furniture, and fixtures for the project site.
Who may be affected
- HOVR Holdings LLC (or its designee)
- Director of Economic Development
Status and timeline
- 2026-11-05: The ordinance was introduced and received its first reading.
- 2026-11-09: A related version of the ordinance is noted for its first reading.
Residents can verify the details of this proposal by reviewing the official record for File No. 1377-2026 through the Cleveland City Council website.
Source record
- File
- 1377-2026
- Type
- Emergency Ordinance
- Status
- First Reading
- Committee
- City Council
- Introduced
- November 4, 2026