Granholm plan targets downtown development

Lane, Amy
February 2005
Crain's Detroit Business;2/14/2005, Vol. 21 Issue 7, p5
This article informs that Detroit's efforts to redevelop its riverfront could get a boost under a new Granholm administration proposal to help cities spur development on the fringes of their downtowns. But it's of big interest to Detroit officials who have been discussing the idea. Under the proposal, which requires legislative approval, cities that have downtown development authorities or tax-increment finance authorities encompassing downtown areas could collect and use state and local school property taxes for new projects, something the downtown districts haven't been able to do since the 1994 Proposal A school-finance reforms. INSET: HOW THE PLAN WOULD WORK.


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