ilitch announces plans to build new arena
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01-29-2013, 04:56 AM
Join Date: Dec 2011
Location: LTIR or golf course
The hints point to a swath of blighted land north of the Fox Theatre in Detroit where at least 22 secretive land deals have taken place since 2008.
House Speaker Pro Tem John Walsh, R-Livonia, who sponsored legislation that would make the Ilitch organization — whose businesses include the Red Wings, Detroit Tigers, Fox Theatre and Little Caesars Pizza — eligible for $13 million a year in Detroit tax money, said Monday that Ilitch representatives indicated they are looking to Wall Street for financing and labor unions to invest in the project to secure some of the construction work.
Crain's Detroit Business reported this week that lobbyists and lawyers for Ilitch have approached state officials about the state owning the arena, which would be similar to the Red Wings' current arrangement in which the city of Detroit owns Joe Louis Arena and the Red Wings lease it.
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