Michigan officials tweak subsidies for 4 Gilbert projects in Detroit
Development officials insist the total amount of 'Transformational Brownfield' subsidies for Bedrock's 4 big Detroit projects will stay the same.
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Development officials insist the total amount of 'Transformational Brownfield' subsidies for Bedrock's 4 big Detroit projects will stay the same.
The amendments don't increase the nearly $308 million maximum amount of income and withholding tax captures for which Bedrock is eligible.
The Detroit City Council on Tuesday approved the 10-year abatement for the Hudson's site development at Woodward and East Grand River avenues on a 5-4 vote.
After three postponements, the council voted 5-4 to approve billionaire Dan Gilbert's request after Bedrock expanded its community benefits package.
The Detroit City Council will again not vote on the $60.3 million tax break requested for Dan Gilbert's development on the former J.L. Hudson's department store site.