Return must justify tax dollars for Detroit arena (Detroit News)

December 18, 2012 – Detroit faces another tough choice in its restructuring as it decides whether to divert $13 million in money now flowing to its struggling school district to help fund a massive new arena complex downtown that could ultimately produce a far greater return for the city. Lawmakers in the busy lame-duck session approved a bill that allows the city to dedicate grants from the Downtown Development Authority to back bonds for the $650 million development. The project will include a new arena for the Red Wings, entertainment venues, stores and housing. The complex is envisioned for 35 acres near Olympia Development Co.’s downtown headquarters in the Fox Theatre, and Comerica Park and Ford Field.

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