Page 10 - Olympia Development News Today

Currently, the program, if implemented, would require $1.25 million in spending and could come in the form of things like pre-development funding.

The package, valued at $167M and hailed as a template for other projects, was passed by the Neighborhood Advisory Council Tuesday and now moves to Detroit City Council.

The agreement includes various spending pledges and equity commitments, including for local Black- and Hispanic-owned contractors and businesses.

Currently, the program, if implemented, would require $1.25 million in spending and could come in the form of things like pre-development funding.

In Wednesday's News Hit: - A major system of winter weather is expected to bring all kinds of precipitation to Michigan Wednesday - A family said a local hip hop artist was murdered due to his success in the music scene - District Detroit's expansion moved one step closer to a green light after a volunteer group approved a community benefits package with the developers

The District Detroit projects biggest subsidy request for $616 million is gradually moving toward a possible City Council vote in March.

The benefits package includes nearly $12 million in new direct spending, including money for apprenticeships and Cass Techs football field.

The program allows for developers who meet certain project cost thresholds — in Detroit's case, $500 million at a minimum — to apply to capture various state taxes, some short term and some long term.

The District Detroit projects biggest subsidy request for $616 million is gradually moving toward a possible City Council vote in March.

The District Detroit projects biggest subsidy request for $616 million is gradually moving toward a possible City Council vote in March.