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Land Issues Approved for Detroit Casinos8 May 1999The Detroit City Council has approved measures to secure land near Detroit's East Riverfront for the three permanent casinos slated to open there in 2002-2003. The Council voted to spend $250 million to acquire or condemn the approximately 19 acres that will be required for the casinos themselves, as well as the land needed for public use relating to the casino district (which includes another 40 acres). The fund provides for not only land cost and cost of possible condemnation hearings, but also for environmental cleanup, destruction of current buildings and relocation of businesses currently occupying the land. Of the projected $250 million expense, $50 million will be paid by the City, with the additional $200 million (as well as any overage) being reimbursed by the three casino developers. The Detroit Free Press reported that both business owners and executives for the three casinos expressed relief that the land issues are resolved. |