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Detroit Music Hall expansion seeks $166M in tax‑exempt conduit bonds; committee advances plan to formal
Summary
The Music Hall Center for the Performing Arts presented a $174 million expansion and requested the EDC serve as conduit issuer for up to $166 million in 501(c)(3) tax‑exempt bonds. Council asked about conduit structure and risk; committee voted to send the financing request to formal with a recommendation to approve.
The Music Hall Center for the Performing Arts asked Detroit’s Planning & Economic Development Standing Committee to support an amended project plan and allow the Economic Development Corporation to act as conduit issuer for up to $166 million in tax‑exempt bonds to finance a $174 million expansion.
What was presented: DEGC’s David Howell and Music Hall president Vince Paul described a 100,000‑square‑foot expansion that will include a new concert hall, a music academy and rehearsal/recording facilities, a restaurant and rooftop event…
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