Even though the NEXT Detroit Neighborhood Initiative is just shy of 5 months old, Mayor Kwame Kilpatrick is looking to expand its
purview.
Excerpt:
In May, Kilpatrick pledged $125 million in tax dollars over five years
to upgrade services in six neighborhoods. He also said he would seek to
raise $100 million from foundations plus additional money from the sale
of bonds. But in this economy, with a financially strapped city and
state, floating bonds isn't a viable option, at least for now,
Goss-Foster said.
"The mayor is now sitting at the table with 20 private foundations and
financial institutions working on an investment model," Goss-Foster
said last week. "We were at this $100-million figure but realized, by
really working in partnership, the public/private commitment can be
limitless. This is unprecedented."
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