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Breaks Sought for High-Profile Detroit Projects

DETROIT-The City of Detroit is seeking Renaissance Zone tax-free status for several high-profile properties within its borders: Campus Martius, RenCen, Clark Street and Book-Cadillac properties, all of which have been slow to thrive on their own.

By Robert Carr | Updated on October 28, 2002

DETROIT-Six areas in Detroit which are already considered for future development may receive non-tax status, according to a City-run development agency. The Detroit Economic Growth Corp. has applied to the State of Michigan to make five areas of the Central Business District and one area nearby into Renaissance Zones, which would negate any taxes for 12 to 15 years.

The proposal has already passed the Detroit City Council and the Wayne County Board of Commissioners, said Bryan Holdwick of the growth corporation. “The State has to approve the zones by the end of this year for them to take effect,” Holdwick told GlobeSt.com.

The areas considered for zones in the CBD include the Campus Martius property, 18 floors of the Renaissance Center’s Tower 500 for possible use by the EDS Corp., 25 acres east of the RenCen, and the historic but vacant Book-Cadillac Hotel property.

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