The new Cobo deal is a win for regional cooperation.
Excerpt:
The legislation on Cobo's renovation, approved by lawmakers in
Lansing and signed by Gov. Jennifer Granholm this month, allows for up
to $300 million from hotel and liquor taxes in Wayne, Oakland and
Macomb counties, and state tobacco tax revenue. In return, operation of
the center is to be turned over to a regional authority.
Clearing
the final hurdle to renovate Cobo Center, at long last, is a huge step,
both symbolically and economically, for metro Detroit.
Although
some view the final deal as an imperfect proposal, it secures Cobo
Center and Detroit as the future site of the North American
International Auto Show and should boost the Detroit convention
center’s ability to compete for other events.
"The
regional cooperation that took place to get this done is unparalleled,"
said Doug Fox, cochairman of the 2010 North American International Auto
Show, which is, by far, the largest annual event at Cobo.
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