In many communities where there was rapid over-development and money far too easily loaned prior to 2008, properties were simply sold for too much money.
We have heard so little about the proposed New International Trade Crossing between Detroit and Windsor since the November 6, 2012 election, and we begin to wonder whether the federal government will approve the crossing.
The Detroit International Bridge Company, owned by Manuel Moroun, is funding a referendum opposing the use of Michigan funds to build the New International Trade Crossing (NITC).
The last week has been excruciating in our state. We now have five referenda on the ballot, some approved by Justices who clearly personally oppose at least some of the Amendments.
The Michigan Department of Treasury’s financial stability is an amazing recognition that the City of Detroit must do well for our state to do well. Possibly because we have a governor who has not been a lifetime politician, we finally have Michigan in a position where all citizens in the state show concern about the progress, development, and redevelopment of the City of Detroit.
The Financial Stability Agreement is more than simply the ceding of control of power from the City of Detroit to the State of Michigan To the contrary, it is recognition by the Michigan Department of Treasury and the City of Detroit that, if the two work together, there will be great improvements in the community and in the state.
The Detroit International Bridge Company court dispute and the proposed New International Trade Crossing are at the forefront of our media topics all too often.
Normally, this blogger writes about solely eminent domain issues. In this case, the issue of a potential Detroit bankruptcy does directly relate to eminent domain. Of greater import, the issue affects not only eminent domain, but also every fiscal issue in the city of Detroit and the state of Michigan.
While everyone feels that Gov. Rick Snyder faced a substantial defeat with the committee vote rejecting the public/private partnership of the Detroit River International Crossing, the reality is that the vote tells us that five senators believe a second bridge should exist. The issue is one of what “public benefits” should be provided to the local community.
Why waste time writing about Detroit’s infrastructure? We have a nation in an emotional, fiscal earthquake. The tremors arise in all the states, and the Richter Scale that catches it all is Washington D.C.
At its annual Detroit Regional Chamber conference, Michigan’s business leadership received a carefully prepared report by the Anderson Group supporting the financial feasibility and common sense for a proposed publically bonded New International Trade Crossing (NITC).
Providing his initial contemplated plan, Detroit Mayor Dave Bing noted that certain neighborhoods would receive greater benefits to the detriment of other likely less desirable and certainly less viable neighborhoods, at least in the mind of the city of Detroit administration.
This blog has discussed the proposed bridge between Detroit and Windsor generally in a favorable fashion. However, Paul Jackson of The Michigan Farm News, has prepared his own independent analysis of the situation, which I think warrants consideration.
On June 24, 2011, I left the DRIC Post with a final question “In a further blog, the debate about ownership will be raised. The issues at this point are simply this: Should a second bridge be built? If so, how?”