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12-05-2012, 03:58 PM
  #65
Fugu
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Quote:
Originally Posted by ArGarBarGar View Post
Couldn't they use the public money as a loan that is paid off with interest over time?
I suppose one could do lots of things, but the details are difficult to find at this point. All we know so far is that the development fund would be used as security for the construction costs; and that an exemption for property taxes is being sought. Mind you, I know that's fairly typical for companies claiming to be bringing jobs to a community. Speaking for myself, I simply don't like the use of public funds in arena financing.



Quote:
Originally Posted by MISC View Post
706k? Wow. That's nothing.

I always thought Detroit had 5+ million people. Seemed like a huge, productive city in my mind.
Metro Detroit has about 5.5 million people, and one of the richest counties in the country (Oakland County). While the auto industry has weakened, there are still billions of dollars floating around the region. Two Big Ten universities are housed within that metro region (UofMich, MichState), adding tens of thousands of jobs to their cities-- profs, staff, hospitals/clinics/doctors, and of course the money students bring in... easily 100K students between the two schools, iirc. Last year, U of Michigan ranked as the second highest recipient in research funding ($1.24 billion-ish), just behind Johns Hopkins-- out of all US universities.

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