30-year lease of Belle Isle to state approved by Michigan loan board
Source: Detroit Free Press
LANSING The Michigan Emergency Loan Board today opted for a 30-year lease to make Belle Isle in Detroit a state park, rejecting an alternative Detroit City Council proposal for a 10-year lease.
The unanimous vote at a public meeting in Lansing was not unexpected as the three board members are all appointees of Gov. Rick Snyder.
Loan board members said a 30-year lease provides better opportunities to improve the park than a 10-year lease would.
Detroit city councilman James Tate said he was disappointed with the decision because there is no funding that is guaranteed in this lease.
Read more: http://www.freep.com/article/20131112/NEWS01/311120055/Michigan-board-to-consider-Belle-Isle-lease-proposals
Alamuti Lotus
(3,093 posts)JVS
(61,935 posts)unencumbered possession of the city and thus cannot be sold or otherwise leased.
quadrature
(2,049 posts)and the land turned into
a moose preserve.