[Badabing]

Interested read about how the financing seems to be structured heavily in the Wings' favour.

If you're searching for something particularly craven in the complicated financing structure—that is, something other than the careless use of public money itself—look to where, exactly, the tax capture comes from. In December 2012, the Michigan legislature restored Detroit's ability to levy school-tax funds from the downtown district for economic development purposes. If that $12.8 million annual gift weren't going to the Illitch empire, it would go to the state's School Aid Fund.

But it is diminishing the state's School Aid Fund by diverting the taxes for "economic development" purposes. Something, somewhere, is taking a hit.

On February 4, City Council voted 6-3 to sell Olympia and the DDA, who will own the arena, 39 vacant parcels for $1. An analysis of city records by the Detroit Free Press found that "several private landowners succeeded in netting millions for themselves by selling similarly situated land in the arena's footprint to Ilitch-controlled corporations." Rather than sell the land at market rate, the city is giving them the rest the same way you sell your younger sibling your old car—$1, but just for the title transfer.

http://deadspin.com/detroit-scam-cit...-fo-1534228789