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Mon March 26, 2012
Pontiac EM says no to Silverdome tax break
Lou Schimmel, Pontiac's state-appointed Emergency Manager, has denied a tax-break request from the owners of the Pontiac Silverdome.
The former home of the Detroit Lions is owned by Triple Investment Group who were seeking a special break to make improvements to the stadium, but as the Associated Press reports, the work they were planning wasn't what Schimmel had in mind:
Schimmel said Monday the group didn't reveal planned major renovations for the facility or property. He said the proposal included a list of $4.6 million in maintenance projects and said it would cost $100 million to fix up the stadium.
According to the Detroit News, the tax breaks would have come as part of the creation of a "commercial rehabilitation district on the property."
The Detroit News has more from Schimmel:
"I was very disappointed by the presentation made by Triple Investment during the public hearing," Schimmel said in a release. "I was hoping that the presentation would make my decision very difficult; however, I do not believe that a commercial rehabilitation district should be established at this time for the purpose of regular maintenance of a facility.
"The public and I received no information that such maintenance will have a benefit to the taxpayers of the city of Pontiac."
Sschimmel has said that Pontiac sees about $95,000 annually in property taxes from the Silverdome.
-John Klein Wilson, Michigan Radio Newsroom