Search
 

Cobo Expansion Plans To Get Outside Review

DETROIT-An audit and outside review has been ordered before Oakland County will participate in plans to expand Cobo Center. Detroit Mayor Kwame Kilpatrick wants to build a $665-million replacement.

By Dan Heaton | Updated on October 12, 2004

DETROIT-Oakland County executive L. Brooks Patterson wants an outside auditor to examine the Cobo Center situation before he is willing to move ahead on any possible expansion plans. Patterson says he has hired Plante & Moran to examine the records the city has turned over to the county.

The city, which owns the convention center, is working on a plan to expand or replace Cobo and is looking to Wayne, Oakland and Macomb counties to help finance that expansion. Patterson had complained that the city was not providing the financial records needed to determine whether his county would participate in paying for an expanded convention center. He broke off talks on the expansion in August. A task force has proposed that a regional authority own and run the center, financed by a 30-year extension of regional hospitality taxes set to expire in 2015.

“We feel an outside and independent agency is necessary at this time in order to help us resolve the breakdown in obtaining critical financial data regarding the Cobo Hall project,” Patterson says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.