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View Diary: Detroit Emergency Manager Approves Go-Ahead on New $450 Million Sports Arena (247 comments)

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  •  Additional Private Funds (0+ / 0-)

    As part of the deal - the State is putting up $283 million for the new arena ($444 million with interest on the 30 year bond cycle); the private sector is putting up about 1/2 as much.  

    But, the private sector is also spending an additional $200 million on other facilities adjacent to the planned arena.  Meaning, this project will bring in about equal amounts of private/public capital.  

    The post doesn't mention these extra funds.

    •  Blackouts (0+ / 0-)

      The extra funds are nice.. sure.. but the Red Wings have openly said they aren't interested in moving, regardless of if this happens or not.  

      And you're in a city that already has 3 bond initiatives they are still paying off that is at risk of blackouts for low attendance again for the Detroit Lions.

      So, really, add more tax to a tax base that is struggling to pay what is there now doesn't seem like a good idea.

      Gandhi's Seven Sins: Wealth without work; Pleasure without conscience; Knowledge without character; Commerce without morality; Science without humanity; Worship without sacrifice; Politics without principle

      by Chris Reeves on Fri Jul 26, 2013 at 06:35:33 PM PDT

      [ Parent ]

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