HOFV - Hall of Fame Resort & Entertainment Company provides update on loan and approvals

Hall of Fame Resort & Entertainment Company (NASDAQ:HOFV) has secured two additional sources of funding that will be used to continue building out the Hall of Fame Village powered by Johnson Controls. Company recently closed a $4M loan with Midwest Lender Fund, an entity owned by HOFV director and shareholder, Stuart Lichter, for use in the construction of the Center for Performance, a 100,000-square-foot dome featuring exhibition halls and athletic performance space. Furthermore, the City of Canton, in coordination with the Canton Regional Energy Special Improvement District, approved legislation that will enable the company to move forward with $3.2M in Property Assessed Clean Energy financing in conjunction with the implementation of various energy-efficient improvements at the Center for Performance. Stock rises 3.3% pre-market.

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Hall of Fame Resort & Entertainment Company provides update on loan and approvals