Temporary restraining order on $600 million set aside from Browns stadium
A temporary restraining order is putting the $600 million in unclaimed funds set aside to build the new Cleveland Browns stadium out of reach for 14 days.
That money was part of the $1.1 billion taken out of Ohio's State Treasury for sports teams.
The decision comes from a Franklin County judge after complaints of a lengthy process to get access to unclaimed funds.
Former Attorney General Marc Dann has been fighting for this pause. He feels the money being taken is unconstitutional.
“Whether the state can take the money of Ohio safety deposit boxes that have been liquidated, or stocks that people forgot about, or life insurance proceeds from grandpa that were never collected, that had been sent to the state. Whether the state can take those and use it for its own purposes, and we think that it can't,” said Dann. “This statutory enactment that takes, steals unclaimed funds, money to give to the Cleveland Browns and other sports teams, simply doesn't pass constitutional muster, and that's what the judge found today.”
In order for unclaimed funds to be used, Dann said there needs to be a public purpose. Dann questioned whether or not a new stadium would be considered a public purpose.
“Even if there is a public purpose, they have to compensate you for that, and they have to offer you the opportunity to be heard, so that you're entitled to due process of law,” said Dann.
Funds can be claimed until 2036. Dann said the state plans to use other unclaimed funds to pay back any that are claimed in the next 10 years.
There will be a hearing January 8 to determine whether or not there will be a preliminary injunction issued for the life of the case.
“That would say, that would say to the state, you can't transfer this $1.7 billion. You can't change the title of it from Ohio citizens to the state of Ohio, which is what they want to do, until this case is decided,” said Dann.
