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State Agency OKs Bonds For New (Detroit) Red Wings Arena
CBS Local ^ | 7/24/13

Posted on 07/24/2013 2:58:27 PM PDT by Libloather

DETROIT (WWJ) – A new hockey arena for the Detroit Red Wings got another step closer to reality Wednesday with Michigan Strategic Fund Board approval of $450 million in bonds for the structure.

State officials said the overall project, which includes a total of $650 million in arena costs and retail, residential and restaurant development around the arena on 45 acres, would create 4,380 construction jobs.

The city’s bankruptcy is not expected to interfere with the project, which backers said consists of 56 percent private investment from Olympia Development and 44 percent public financing from tax capture in the Detroit Downtown Development Authority area.

(Excerpt) Read more at detroit.cbslocal.com ...


TOPICS: Crime/Corruption; Extended News; Government; News/Current Events; US: Michigan
KEYWORDS: arena; chapter9; detroit; michigan; puckstopshere; redwings; rosemaryaquillina; thepuckstopshere
Priorities.
1 posted on 07/24/2013 2:58:27 PM PDT by Libloather
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To: Libloather

It ain’t happening : )


2 posted on 07/24/2013 2:59:37 PM PDT by stephenjohnbanker (K I L L T H E B I L L !!)
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To: Libloather

There ain’t no Tax capture in Detroit!


3 posted on 07/24/2013 3:04:15 PM PDT by SandRat (Duty - Honor - Country! What else needs said?)
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To: stephenjohnbanker

Agreed, I’ve been all over my senator and rep about this.

It would probably be cheaper to move both the Red Wings and Pistons into Ford Field anyway.


4 posted on 07/24/2013 3:04:44 PM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: Libloather

Makes sense. Detroit pensioners have to be entertained somehow... hockey’ll be perfect


5 posted on 07/24/2013 3:04:52 PM PDT by C210N (When people fear government there is tyranny; when government fears people there is liberty)
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To: Libloather; cripplecreek

Hey, they got Joe’s Fist downtown. I’ve always enjoyed a good fight. The hockey is just “gravy on the biscuit”.


6 posted on 07/24/2013 3:08:15 PM PDT by Cletus.D.Yokel
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To: Libloather

We don’t need one. It’s a hockey game, all the history is at the Joe, I see no reason to leave it.


7 posted on 07/24/2013 3:09:50 PM PDT by fuzzylogic (welfare state = sharing consequences of poor moral choices among everybody)
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To: fuzzylogic

true that.


8 posted on 07/24/2013 3:12:44 PM PDT by TurboZamboni (Marx smelled bad & lived with his parents most his life.)
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To: SandRat
There ain’t no Tax capture in Detroit!

Sure there is.... if the stadium accepts EBT cards.

9 posted on 07/24/2013 3:13:52 PM PDT by umgud (2A can't survive dem majorities)
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To: Libloather
It's not bread so it must count under circuses.
10 posted on 07/24/2013 3:13:58 PM PDT by KarlInOhio (This message has been recorded but not approved by Obama's StasiNet. Read it at your peril.)
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To: Libloather

Build it outside city limits (but not as far away as the Siverdome was....).


11 posted on 07/24/2013 3:16:57 PM PDT by jeffc (The U.S. media are our enemy)
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To: Libloather
The city’s bankruptcy is not expected to interfere with the project...

I grew up in Michigan. I left in 1980. I've never regretted it: the more stupid mistakes people make there, the more stupid mistakes they repeat... and repeat... and repeat.

12 posted on 07/24/2013 3:21:03 PM PDT by Standing Wolf
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To: Libloather

Perfect! Shovel-ready union jobs to the rescue! Obama can give yet another self-serving speech on his way to Communist America 2016.

No responsible investor would willingly buy bonds from that dead metropolis. This is as much a slap in the face to capitalism and free markets as it is precisely the wrong thing to do.


13 posted on 07/24/2013 3:30:28 PM PDT by LurkedLongEnough
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To: jeffc

Can’t they share The Palace of Auburn Hills with the Pistons?

I always thought it ironic that the sport that appeals to suburbanites played its games downtown, and vice versa.


14 posted on 07/24/2013 3:33:15 PM PDT by JeffChrz (2013. Brought to you by the uninformed voters of the United States.)
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To: JeffChrz

“I always thought it ironic that the sport that appeals to suburbanites played its games downtown, and vice versa.”

Red Wings are downtown to attract Canadians.


15 posted on 07/24/2013 3:39:05 PM PDT by FreedomGuru (Without Life nothing else matters.)
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To: Libloather

We have a top class arena only used by a semi-Pro hockey team if the Red Wings want to move.

Call Buffalo, NY!


16 posted on 07/24/2013 3:46:53 PM PDT by Wurlitzer (Nothing says "ignorance" like Islam! 969)
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To: Libloather

That’s the ticket, new $650 Million hockey arena for Detroit. That’ll fix the social and economic problems. That Million fifty thousand people that left will probably start moving back. I might even take a Janurary vacation in Detroit and go to hockey game or two.


17 posted on 07/24/2013 3:57:24 PM PDT by duffee (NO poll tax, NO tax on firearms, ammunition or gun safes. NO gun free zones.)
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To: Perdogg; cripplecreek; AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; ...

Thanks Libloather.

The Puck Stops Here ping.


18 posted on 07/24/2013 4:09:05 PM PDT by SunkenCiv (It's no coincidence that some "conservatives" echo the hard left.)
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To: FreedomGuru
Red Wings are downtown to attract Canadians.

Yup. Same with baseball. Windsor baseball fans are loyal to the Tigers over the Blue Jays. My brother in law lives in Livonia but he's loyal to the Packers over the Lions due to his upbringing in the western UP.
19 posted on 07/24/2013 4:16:56 PM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: FreedomGuru

Actually when it comes down to it Detroit can’t be beat for availability of sporting events. There’s the Detroit Grand Prix, powerboat racing, air racing, sailboat racing.


20 posted on 07/24/2013 4:21:02 PM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: Libloather

From the article: “The city’s bankruptcy is not expected to interfere with the project, which backers said consists of 56 percent private investment from Olympia Development and 44 percent public financing from tax capture in the Detroit Downtown Development Authority area.”

You just can’t make this stuff up.


21 posted on 07/24/2013 4:59:08 PM PDT by RKBA Democrat (GOTS: Food, water, guns, ammo, useful skills, cash, and precious metals.)
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To: RKBA Democrat

You can’t make it up. “44 percent public financing from tax capture..” I think that money might better be spent on fixing the streets and putting more cops out on patrol to help clean up neighborhoods that they abandoned in the past. You don’t clean those neighborhoods up, you gonna have something that resembles the Robocop movies.


22 posted on 07/24/2013 7:21:41 PM PDT by af_vet_rr
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To: af_vet_rr

Public funding of this stuff is so wrong


23 posted on 07/24/2013 7:22:08 PM PDT by GeronL
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To: af_vet_rr

“I think that money might better be spent on fixing the streets and putting more cops out on patrol to help clean up neighborhoods that they abandoned in the past.”

You should re-examine your premises. You’re implicitly assuming that the political leadership in Detroit is at all interested in delivering anything of value to the denizens of their city.


24 posted on 07/24/2013 7:31:26 PM PDT by RKBA Democrat (GOTS: Food, water, guns, ammo, useful skills, cash, and precious metals.)
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To: RKBA Democrat

It’s about the only time there’s a majority white crowd in Detroit, is at the Red Wings games.


25 posted on 07/24/2013 7:32:56 PM PDT by dfwgator
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To: dfwgator

I always thought it was ironic that the white guy sport was played at the Joe Louis in downtown and the homeboys played out in Auburn Hills.


26 posted on 07/24/2013 7:36:28 PM PDT by nascarnation (Baraq's economic policy: trickle up poverty)
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To: cripplecreek

All you need is an NFL team...


27 posted on 07/24/2013 7:40:24 PM PDT by headsonpikes (Mass murder and cannibalism are the twin sacraments of socialism - "Who-whom?"-Lenin)
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To: RKBA Democrat
44 percent public financing from tax capture in the Detroit Downtown Development Authority area.

The Ilitch's get a 44% right down or cost share? That sucks, they want it so bad let them raise the Capital, or does some apparatus still functioning within the government to use the Soprano's vernacular, want a taste...

28 posted on 07/24/2013 7:48:53 PM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks.....th)
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