Jul 22, 2013
The proposed new Detroit Red Wings hockey arena is to be paid for how? Possibly by the State of Michigan’s Strategic Fund, selling bonds. This would make the arena “state owned.” This would allow the Ilitch family to get a hefty tax break.
The City of Detroit just filed for bankruptcy. Detroit schools are in a financial crisis. Yet this project would divert city tax revenue toward paying off these bonds.
The new “entertainment complex” would stretch all the way from Mike Ilitch’s Comerica Park and Fox Theater over to Marian Ilitch’s Motor City Casino.
The politicians cry broke. But they sure do “find” money for what they want. Current plans call for PUBLIC MONEY to pay for at least 44 percent of the cost of this project!