State's lease on Detroit's Belle Isle starts, $11 per car will be required
That per car fee won't go into effect for another 90 days, as the MDNR transitions into running things on Detroit's Belle Isle under a 30-year lease approved yesterday by a state loan board.
Detroit City Council wanted a 10-year lease. More from Crain's Detroit Business:
Keith Creagh, director of the Department of Natural Resources, said the reason the state sought a 30-year lease was to be able to apply for grants for park improvements that would require such a time commitment.
The city’s argument for a 10-year lease was that following Detroit’s exit from bankruptcy and a reduction in its structural deficit and a move to a balanced budget, it will have the capacity a decade from now to again properly fund and maintain the 985-acre park.
One member of the loan board overseeing the deal said terms of the deal could be revisited in the future.