Oh, joy… today makes it “official”.
via Crain’s Detroit
Belle Isle in Detroit is set to officially become Michigan’s newest state park.
The state is taking over the city-owned park under a 30–year lease deal with Detroit Emergency Manager Kevyn Orr.
On Oct. 1, Orr and Gov. Rick Snyder signed a proposed lease of the island to turn it into a state park; Detroit City Council counter-offered with a 10-year lease proposal, which was ultimately rejected by a state panel.
Included in the announcement of the proposed lease was the promise that the state would invest $10 million to $20 million in the park within the next three years.
The move goes into effect today; it’s expected to
save the bankrupt city[cost all state taxpayers] between $4 million and $6 million a year.
Bud Denker of Bloomfield Hills is senior vice president of Penske Corporation and executive vice president of Penske Automotive Group and Penske Performance. Denker joined the Penske enterprise after many years with several Fortune 100 companies including Eastman Kodak Company where he served as vice president of brand and marketing development. Since 2006, he has served as chairman of the Detroit Belle Isle Grand Prix and is also active in many Detroit-based organizations including the Downtown Detroit Partnership and The Parade Company.