New Detroit Sports Arena still OK for Taxpayer Funds, Despite BankruptcySubmitted by bobbyw24 on Thu, 07/25/2013 - 06:51
LANSING, Mich.—A state board on Wednesday unanimously gave the go-ahead for a new Red Wings hockey arena in downtown Detroit to be paid for in part with tax dollars as the broke city works through bankruptcy proceedings.
Gov. Rick Snyder and others defended against potential criticism that the $650 million project should be entirely financed with private money because the city can't provide basic services and its retirees are facing cuts in their pensions. The arena is designed to be a catalyst for more development and to link downtown with underutilized nearby areas, officials said.