Cleveland lakefront development plan: North Coast Waterfront NCA [Video]

CLEVELAND — Cleveland’s lakefront development vision is taking another important step forward with a public hearing on the creation of the North Coast Waterfront New Community Authority (NCA). 

This authority is a crucial part of the city’s plan to revitalize the downtown lakefront area. 

But what exactly does this mean for Cleveland’s future, and how will it impact local businesses and residents? Let’s break it down.

What is a New Community Authority (NCA)?

A city presentation describes a New Community Authority (NCA) as an economic development tool authorized by state law that allows property owners and lessees within a designated area to voluntarily opt-in to charges designed to fund improvements and services for the area. Essentially, it’s a way for businesses and property owners to invest directly in the growth and development of their district.

By participating in …