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foreign investment

A birds-eye view of the Water Street property owned by the city of Ypsilanti
City of Ypsilanti

 

The city of Ypsilanti is inching forward with a proposal to sell city-owned land to developers who want to build a more than $300 million housing and retail development on the polluted site.

After a meeting that lasted more than six hours, the council voted 4-3 to agree to a non-binding land purchase agreement with International Village LLC, the development company headed by Troy-based Amy Foster. Two city council members abstained from voting and one voted no. 

University of Chicago-Paulson Institute

The nation’s former Treasury Secretary has an idea about how to bring more foreign investment to the Great Lakes region. He’s coming to Detroit today to pitch it to the city’s business leaders.

Henry Paulson sees the Great Lakes region as a place presenting a lot of opportunities for emerging markets, like China, to invest.

Paulson was President George W. Bush’s Treasury Secretary during the 2008 financial crisis. He championed the $700 billion bailout of the nation’s banks. Before that, Paulson headed the investment firm of Goldman Sachs.