Rendering of the Joe Louis Greenway. (Illustration: City of Detroit)
Stephen Ross and the Ilitch group's planned University of Michigan graduate campus won't be the only Detroit development to benefit from the state's just-approved $76-billion budget.
Fueled by what The Detroit News reports were record budget surpluses from a surge in tax revenue, lawmakers agreed to spend $1 billion on projects throughout the state.
In Detroit, that includes $100 million for the Detroit Center for Innovation — a funding gap Ross one month ago said he expected to have investors fill.
According to Axios Detroit, it also includes:
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$100 million for Wayne State University's Karmanos Cancer Cente
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$75 million for various Community Development Financial Institutions, many of which are in Detroit
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$40 million for the Joe Louis Greenway to the Detroit River
The Charles H. Wright Museum of African American History and Detroit Historical Society will get $6 million and $4 million, respectively.
The ranking chair of the appropriations committee is Rep. Joe Tate, a Democrat from Detroit.
