The Official Arena Thread Part 6
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12-08-2012, 07:23 AM
Join Date: Nov 2005
Pretty big difference with the proposed deal in Detroit. First, Ilitch is investing $650M himself. He is then applying to use $12.8M in
tax dollars from the Detroit Downtown Development Authority. And, it is not like it has been approved. He has been approved to apply only.
My guess is if Katz offered to put in $650M of his own cash and build the arena himself on the condition that he receives an annual $12.8M subsidy from the city, the deal would be signed in a second. Especially if that money was specifically earmarked for downtown redevelopment and currently not being used.
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