CLEVELAND, Ohio -- The Cleveland Cavaliers today announced a striking $140 million upgrade to the Q Arena that dramatically alters the facility's appearance and, the team says, would make the 22-year-old arena competitive by creating more space for dining, bars and public gathering.

The Cavs and taxpayers would split the cost, without any increase in taxes. Existing taxes on hotel rooms and Q tickets would pay most of the public's share.

The Q would remain open during construction, which would finish by 2020, under the plan.

Any discussion of public financing of sports stadiums is controversial in Cleveland, and the public will have multiple chances to offer thoughts on this project at various council hearings. The Cavs and government leaders believe they can make a strong case for this upgrade because of the Q's role as economic juggernaut for the region.

You can find all sorts of information about the project and the financing on our site, but here is a quick primer on the big points.

What is the project?

A $140 million reconstruction of the Q arena to modernize it with a glass front, public gathering spaces and dining areas that let you watch the game while you eat. The Q is one of the oldest NBA arenas in the nation without a major update, and civic leaders fear that without a renovation, Cleveland will stop attracting top entertainment acts.

Adding a glass "front porch" to the Q would open it up and give Cavs fans a spot to gather before games.

What's wrong with the Q now?

The concourses are narrow and create bottlenecks

The arena has no space for people to gather before and after games and events

People must line up outside to enter

Entrances are small

Most concessions have no seating or gathering places.

Finding your way around the arena is confusing

How will this make it better?

The Q will grow, stretching all the way to Huron Road, taking in the outdoor space from Ontario Street east to East 6

The reconstruction will increase space for dining and bars, fan zones and other gathering spaces by more than 60 percent, to 153,000 square feet.

The update will make the Q competitive with newer arenas in Pittsburgh, Detroit and Columbus.

Who will pay for it?

The Cavs and taxpayers will split the bill.

Cuyahoga County will borrow the $140 million up front by selling bonds to investors. But like anyone borrowing money, interest adds up.

Paying off the loans will take until 2034 and cost approximately $244 million, including the interest. But the city and county want to set aside another $38.5 million for future sports stadium work, so the total cost of the financing deal will be about $282 million over the next 17 years, subject to market interest rates in the spring.

The Cavs will provide the biggest chunk of that, roughly $122 million, through increased rent payments for the Q.

Cleveland will provide more than $88 million, using its admissions tax on tickets to Q events from the years 2024 through 2034.

More than $44 million will come from the budget of Destination Cleveland, which will give up a piece of the county bed tax it receives now.

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Nearly $9 million will come from admission taxes expected from future Cavs playoff games, otherwise payable to the county under an existing agreement with the city, related to the original Gateway bonds.

And a bit more than $3 million will come from expected increases in sales taxes on Cavs merchandise, food and alcohol sold at the Q, otherwise payable to the county.

The Cavs say they will pay for any over-budget construction costs and will cover the public's share if taxes are less than anticipated. The Cavs also say they will not add a user fee or any other ticket surcharge to cover their costs.

What's in it for the Cavs?

An arena that's much more attractive to fans, making them more willing to part with their discretionary income for tickets.

More accommodating spaces for concessions, likely resulting in more sales.

The ability to compete for big concerts and other events with modern arenas in the nearby cities of Columbus, Pittsburgh and Detroit.

The new Loudville bar area would allow fans to eat, drink and socialize while watching the game.

What's in it for the public?

An up-to-date arena for sports, concerts and other entertainment, and a greater likelihood of attracting big-name acts to Cleveland.

An NBA All-Star Game in the near future.

A guarantee that the Cavs will not leave Cleveland through at least 2034.

Postponing until deep into the 2020s a discussion on building a new arena, which in 2017 dollars would cost more than half a billion dollars.

How does this deal compare to arena deals in other cities?

While the Cavaliers are not financing the entire $140 renovation, the proposal looks pretty good compared to other small or medium-sized sports markets.

The company that owns the 48-year-old Madison Square Garden in New York could afford to pay $1 billion in 2013 for renovations because it is a top media and entertainment market. Same with the company that owns the Boston Celtics, which spent $70 million on renovations in 2014 to the then-19-year-old TD Garden.

But officials in smaller cities, some faced with potentially losing their professional sports teams, have shouldered heavy burdens.

Take, for example, the Target Center, home of the Minnesota Timberwolves

The arena, which opened in 1990, is owned by the city of Minneapolis. The city is paying $74 million toward a $130 million renovation.

In Indianapolis, the city has agreed to pay $160 million over 10 years to cover operating costs and upgrades at Bankers Life Fieldhouse, home of the Indiana Pacers.

Why do the Cavs and government leaders say public spending is justified?

Since 1994, according to the Cavs, the team has spent:

$88 million on capital improvements

$117 million on repairs and maintenance

$20 million supporting Gateway

$156 million on operating expenses

The team says the Q is the biggest driver of economic activity in the county, the 33rd busiest arena in the world and the 13th busiest in America. It hosts more than 200 public events a year and draws 2 million visitors a year.

In 2016, the Cavs say, the Q generated $245 million in direct spending and $44 million in taxes.

Because of the number of events at the Q that have been televised nationally and internationally, it helps mold what the world thinks of Cleveland.

Cleveland's image it gives Cleveland international attention.

Does the public have any say on this?

Cleveland City Council will hold public hearings and vote on the proposed use of the city's admission tax to pay back part of the loans. City residents can make their thoughts known through these hearings.

The Cuyahoga County Council will hold hearings on the use of various county taxes to pay for the deal as well as the sale of bonds to pay for it. County residents can make their thoughts known through these hearings.

The City Planning Commission would consider the design of the updated Q in public meetings.

And cleveland.com will host a series of online discussions about the pros and cons of the project and the financing.