County Plans to Sell Unfinished Jail to Billionaire Dan Gilbert
Kevin McNamara would like to be the next Wayne County executive. I know, because I heard him say that to Joe Harris, the former Detroit auditor, as we were all waiting to go be on Huel Perkins's "Let it Rip," one night last week.Full Story
#1 Nov 6, 2013
Is this the win-win scenario ficano says many taxpayers may be amazed at?
#2 Nov 6, 2013
The potential certainly exists to make lemonade here.
They are down $155 million now. They get $50 million for the sale. If Gilbert's plan goes well, they collect $20 million annually. Then there are supposed to be 6,000 jobs with all those city taxes and spin off benefits. Never mind, I guess, that the Toronto businessman offered more, but Detroit was precluded by a previous agreement with Gilbert. That's business.
As this develops, Ficano will be making hay over it and proclaiming the benefits during a reelection campaign. Never let it be forgotten that that $155 million was a pure loss not offset by any of this new development. The county never should have proposed the jail site there to begin with and the property then would have been available for development now. The Mound site had long been offered by the state for $1 and should have been taken and used with a bond of no more than $150 million to be extra generous.
This whole fiasco goes back to Ficano and the commission going for the $300 million millage and a failed jail plan. Kevin McNamara is proving to be the fruit that doesn't fall far from the tree.
The Wayne County executive campaign will be interesting. We expect to see Bobby touting his turnaround of the jail plan. Benny will be stressing his performance in the mayoral campaign and trying to look presidential. Kevin McNamara may be in the mix just because-McNamara. I don't see anything he can point to positively. Benny wins by default.
#3 Nov 8, 2013
If simple math is done, this is hardly win win.county paid good money for property yeras ago i believe. Also these revenues haven't been proven. Also all $150 million + down drain could have been avoided by thinking of this initially. This still amounts to tremendous blunder in most common thinking of wise spending.
#5 Nov 15, 2013
Bob loses a little bit on each deal, but he makes it up on volume!
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