Brownfield Development Meeting Info
Join us at 4 PM today to demand that the Brownfield Development Authority reject the proposal to give the Ilitch family over $600 million to build the District Detroit.
In 2015, the Ilitch family received $400 million to develop Little Caesar's Arena and the surrounding District Detroit. After eight years of failed development, they are now requesting an additional $800 million in public subsidies. This comes at a time when 19,000 Detroit properties are facing property tax foreclosures due to the property tax moratorium expiring in March.
The Brownfield Development Authority is responsible for approving these developments and making recommendations to the city council. Public sentiment also plays a significant role in the approval of the project and the concessions that are extracted from the developer.
Talking Points: Example Talking Points Doc
- The total request for public investment is $797.75 million, with $616 million in Transformational Brownfield funds.
- The District Detroit has already received nearly $500 million in public money for the construction of Little Caesars Arena and the Detroit Center for Innovation.
- Ilitch Holdings had a total combined revenue of $3.8 billion in 2018, and Ross has a net worth of $7.6 billion, according to Forbes in 2020.
- The proposed builds will require even more public money, potentially exceeding $1 billion when taking into account interest on bonds, value of public land, and bonus incentives. This is approximately Detroit's entire annual general fund.