Stephen Ross and the University of Michigan Ilitch Group’s planned graduate campus won’t be the only Detroit development to benefit from the $76 billion budget the state just approved.
Fueled by what The Detroit News reports are record budget surpluses due to increased tax revenue, lawmakers agreed to spend $1 billion on projects across the state.
In Detroit, that includes $100 million for the Detroit Center for Innovation — a funding shortfall Ross said a month ago he expected investors to fill.
According to Axios Detroit, it also includes:
$100 million for Karmanos Cancer Center at Wayne State University
$75 million for various community development financial institutions, many of which are in Detroit
$40 million for the Joe Louis Greenway to the Detroit River
The Charles H. Wright Museum of African American History and the Detroit Historical Society will receive $6 million and $4 million, respectively.
The ranking chairman of the Appropriations Committee is Representative Joe Tate, a Democrat from Detroit.