30-year lease of Belle Isle to state approved by Michigan loan board

[alp227]

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]

1. Plans for the Libertarian tax shelter out the window? *nt

[JVS]

4. Yeah. This means that Belle Isle keeps the status quo because it no longer is the...

unencumbered possession of the city and thus cannot be sold or otherwise leased.

[bananas]

5. Good news. nt

[quadrature]

2. better idea... the city of Detroit should be shut down...

and the land turned into
a moose preserve.

[MrScorpio]

3. I guess you figure that moose husbandry is the best bet for the 700,000 people who live here. nt