Detroit and FCA invest millions into homes around new plant site

FCA Chrysler will be building a new plant on the Eastside of Detroit which means that surrounding neighborhoods will be affected. In May, the city of Detroit finalized a Community Benefits Ordinance-Agreement that will allow millions to be pumped into the Mack Avenue neighborhood. FCA made a $900,000 deposit toward any repairs needed through the agreement. FCA also made an investment of $4.5 billion which will create 6,433 jobs at Detroit and other FCA plants in Michigan. Homeowners will now be able to receive a grant for up to $15,000 for repairs which are administered through the city’s Housing and Revitalization Department.

Recently, FCA COO said that this investment will help Detroiters who want to invest in their homes. “Homeownership has widely been considered a part of the American Dream,” FCA COO Mark Stewart said. “We want to help our neighbors keep their dreams alive by providing them with an opportunity to invest in their homes.”

The Community Benefits Ordinance is a city law that was mandated to developers who are creating new projects in the area. Developers must communicate with community members and discuss certain drawbacks that come with new developments. For the CBO to take place, a project must be:

  • $75 million or more in value
  • Receives $1 million or more in property tax abatements, or
  • Receives $1 million or more in value of city land sale or transfer

Since it’s inception, CBO has been responsible for 60 basketball courts in Detroit, free programming and rental housing.

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