Michigan legislative action thread
Posted on 10/17/2014 5:51:42 AM PDT by shove_it
Lawyers for Detroit said on Thursday that the city had reached a settlement with its biggest remaining holdout creditor, clearing a significant obstacle from its path out of bankruptcy.
The settlement would give the Financial Guaranty Insurance Company the rights to build a hotel, retail and condominium complex on the site of the Joe Louis Arena, a five-acre riverfront site that is now the home of Detroit’s hockey team, the Red Wings. The team had previously announced plans to move to a new arena in a different neighborhood when its lease expires in 2017...
(Excerpt) Read more at nytimes.com ...
Mich ping
Sounds like a good deal to me. Downtown is booming with reconstruction when I was there last year.
Forbes listed Detroit as number 1 city for sports a few weeks back. Gotta figure, there aren’t too many places where all the major league sports are within a few blocks like that. Tigers, Red Wings, Lions, and Pistons. The Indycar Dual on Belle Isle with powerboat racing on the river. They also do some air racing over the river but I don’t think its on a set schedule. Roger Penske and Dan Gilbert are also working on getting an F-1 race back into the city at some point.
The GOP on a national scale really needs to step up and start promoting and taking credit for the good that has been done in Detroit over the last 4 years.
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