January 16, 2009
Ensures Detroit is home to North American Auto Show
LANSING - Governor Jennifer M. Granholm today signed legislation that will clear the way for the expansion and renovation of Detroit's Cobo Conference Center. The legislation transfers ownership and operation of Cobo from the city of Detroit to a new regional authority and provides the funding to pay for the expansion.
"The Cobo expansion not only marks a new chapter for one of Detroit's iconic meeting places, this renovation will mark a new chapter for Detroit and will breathe new life, create new jobs, and attract new visitors into this great American city," Granholm said. "The growth and revitalization of Detroit is so critical to the growth and revitalization of Michigan and our economy. And being able to keep the North American International Auto Show's prominent place in Detroit is about preserving Michigan's trademark and brand."
Under the new legislation, a $279 million expansion will add about 166,000 square feet of exhibit space to Cobo's current 700,000 square feet by converting Cobo Arena. The plan will also add meeting rooms and other improvements to the exhibition facility.
The start of any construction would have to be approved by a new five-member governing authority comprised of appointees of the governor, Detroit mayor, Oakland and Wayne county executives, and chair of the Macomb County board of commissioners. All five would have individual veto power over decisions in building and operation of Cobo Center.
The Detroit City Council has 45 days to reject the plan before control transfers to the authority 90 days after the legislation becomes law.
Funding for the expansion extends taxes on statewide liquor sales and metro Detroit hotel-motel rooms until 2039 unless bonds to finance the project can be paid off before then.
House Bill 5691 was sponsored by former Representative Paul Condino (D-Southfield); Senate Bill 1630 was sponsored by Senator Jason Allen (R-Traverse City); Senate Bill 1633 was sponsored by Senator Buzz Thomas (D-Detroit); and Senate Bills 880 and 881 were sponsored by Senator Michelle McManus (R- Lake Leelanau).
# # #
