A critical loose end remains untied in Detroit's ambitious plans for a hockey arena and entertainment district, as Bill Shea of Crain's explains.
The Detroit City Council won't approve a key piece of the financing plan for the proposed $600-million Detroit Red Wings arena and surrounding entertainment district until it sees a concrete agreement between the hockey team's owners and the city's Downtown Development Authority.
The council will vote on, or allow to die, a proposal to expand the current 615-acre DDA property taxing district by about 40 blocks north of the Fisher Freeway between Grand River and Woodward avenues to encompass the arena district site, said Marcel Hurt, chief of staff for council President Saunteel Jenkins.
No one is saying when council members will see a description of the wrapped-up deal, Shea writes. Their next meeting is Dec. 17.
All that's available now is a draft agreement released in June, which lacks specifics such as a construction timetable. It says Olympia would run the arena for 35 years and have an option to renew for a dozen five-year periods.
In addition to the boundary expansion, the DDA has requested City Council approval of land transfers to the DDA of parcels in the arena district owned by the city and its Economic Development Corp. . . .
The council also wants more details on the plans for Joe Louis Arena, the city-owned venue leased to the Red Wings since 1979, Hurt said.
