Posted December 05, 2012 on AP on Fox
The Michigan Senate approved legislation Wednesday to help finance a downtown Detroit project that would include a new home for the NHL's Detroit Red Wings. Team owner Mike Ilitch this week announced plans for a $650 million multiuse development, which would include an events center where Red Wings games could be held. He has said for years he'd like a new arena for the team, which now plays at the aging Joe Louis Arena. The bill approved by the Senate would allow use of tax dollars collected by the city's Downtown Development Authority for the project. DDAs capture shares of local tax revenue to support development activities such as marketing and buying property. Senate Democratic leader Gretchen Whitmer opposed the measure as a drain on funding for Detroit's public schools. The city's DDA has been allowed for nearly two decades to pay down general obligation bonds with about $12.8 million a year that otherwise would have gone to education, she said. Now that those bonds are p...
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