Committee approves TIF and PACE for Westinghouse redevelopment at 1200 West 58th St.
March 23, 2026 | Cleveland, Cuyahoga County, Ohio
This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »
The Committee on Finance, Diversity, Equity and Inclusion approved emergency ordinances on March 23 authorizing tax-increment financing and a special energy improvement designation to support the redevelopment of the former Westinghouse tower at 1200 West 58th Street.
Council President convened the presentation, and a project team representative described the plan to convert the eight‑story, roughly 113,000‑square‑foot building into 106 apartments — including 10 units set aside as affordable — plus about 23,000 square feet of commercial space. The team estimated the total project cost at approximately $81,000,000 and said the Port of Cleveland and other public entities will participate in financing. "This project is led by Mr. Fishback ... and Mr. Rusnoff," a presenter said, noting the development entity TW 58 Cleveland LLC.
The legislation package includes ordinance 98‑2026 to allow a 100% non‑school TIF for 30 years and ordinance 104‑2026 to add the property to the Northeast Ohio Advanced Energy District and permit a special energy improvement project with an assessment structure. Project representatives said the PACE component would be financed by the Port of Cleveland for up to $15,000,000 over 28 years to cover clean‑energy improvements.
Councilwoman Santana asked about preserving the building’s historic facade; a developer representative said structural engineers determined the existing façade is not stable but the team plans to "replicate or pay homage to" the original design in Phase 1B. Santana also asked about affordability; a presenter replied that units designated at 120% of area median income would have one‑bedroom rents projected at about $1,300–$1,500 monthly when complete.
Council members pressed the administration for broader fiscal impact detail for TIF projects. Councilman Michael Polenson asked that future TIF packages include an analysis of revenue losses to other taxing entities — naming Metro Parks, the library and regional transit — and the development director agreed to provide that breakdown on future projects.
After discussion, the committee approved the ordinances "as amended." The committee recorded the approval and asked the proponents to complete the required signature and administrative steps. No roll‑call vote totals were provided in the transcript; the committee chair announced the measures as approved.
Council President convened the presentation, and a project team representative described the plan to convert the eight‑story, roughly 113,000‑square‑foot building into 106 apartments — including 10 units set aside as affordable — plus about 23,000 square feet of commercial space. The team estimated the total project cost at approximately $81,000,000 and said the Port of Cleveland and other public entities will participate in financing. "This project is led by Mr. Fishback ... and Mr. Rusnoff," a presenter said, noting the development entity TW 58 Cleveland LLC.
The legislation package includes ordinance 98‑2026 to allow a 100% non‑school TIF for 30 years and ordinance 104‑2026 to add the property to the Northeast Ohio Advanced Energy District and permit a special energy improvement project with an assessment structure. Project representatives said the PACE component would be financed by the Port of Cleveland for up to $15,000,000 over 28 years to cover clean‑energy improvements.
Councilwoman Santana asked about preserving the building’s historic facade; a developer representative said structural engineers determined the existing façade is not stable but the team plans to "replicate or pay homage to" the original design in Phase 1B. Santana also asked about affordability; a presenter replied that units designated at 120% of area median income would have one‑bedroom rents projected at about $1,300–$1,500 monthly when complete.
Council members pressed the administration for broader fiscal impact detail for TIF projects. Councilman Michael Polenson asked that future TIF packages include an analysis of revenue losses to other taxing entities — naming Metro Parks, the library and regional transit — and the development director agreed to provide that breakdown on future projects.
After discussion, the committee approved the ordinances "as amended." The committee recorded the approval and asked the proponents to complete the required signature and administrative steps. No roll‑call vote totals were provided in the transcript; the committee chair announced the measures as approved.
View the Full Meeting & All Its Details
This article offers just a summary. Unlock complete video, transcripts, and insights as a Founder Member.
✓
Watch full, unedited meeting videos
✓
Search every word spoken in unlimited transcripts
✓
AI summaries & real-time alerts (all government levels)
✓
Permanent access to expanding government content
30-day money-back guarantee
