Earned? Deserved? He has after all transformed Downtown Detroit but, sheesh, that's a lot of money--$60 for every man, woman and child in Michigan--maybe now more than Ilitch's total.

"The Michigan Strategic Fund on Tuesday approved about $618 million in brownfield incentives for $2.14 billion in Dan Gilbert projects in downtown Detroit.

It's the first time the state has approved such incentives, which were put into place following passage of a law enacted last year that allows the capture of certain taxes to help bolster development in Michigan communities.

  • It's the first tax break awarded under the state's new transformational brownfield incentive law
  • Incentives are for $2.14 billion in downtown Detroit projects
  • Projects include Hudson's site, Monroe Blocks, Book Tower and building

Quoted from Crain's Detroit Business--Full article here. [<- Edit* broken link now fixed. Thanks Egrant]

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