Detroit's 'Summer 2012 Demolition Plan' receives bank settlement funds
The city of Detroit will receive $10 million of a statewide $25 million fund to counter blight in Michigan.
Last month, Detroit Mayor Dave Bing pledged to demolish 10,000 vacant buildings in the city by December 2013, the end of his four-year term.
The state funding comes during the mayor's "Summer 2012 Demolition Plan," during which he plans to raze 1,500 buildings by this September.
Some of those buildings went down today. In a media advisory this morning, the Mayor's Office said,
Four apartment buildings and another dangerous structure will be razed simultaneously Thursday morning in the Detroit Works Project Demonstration Area #3.
The demolition funds come from the state's $97 million share of a national settlement with banks over faulty foreclosure processes. Yesterday, the Michigan house and senate voted on how to divvy up the money across state projects.
Check out the pie chart below to see the breakdown of the settlement money, according to MLive.
The office of Gov. Rick Snyder says he's expected to sign the legislation, reports the AP.
-Elaine Ezekiel, Michigan Radio Newsroom