The Detroit City Council plans to share their input in potential tax breaks by the tens of millions for billionaire Dan Gilbert’s most recent real estate project at the old Hudson building site, FOX 2 Detroit reported.The city council was initially to vote on the tax break last week, which is expected to “give $60 million to real estate firm Bedrock over 10 years for the construction of the new Hudson building,” slated to be finished in 2024, according to the article.The 49-story building is proposed to cost $1.4 billion in construction costs by it’s completion date for the project which includes featuring a living and office space in downtown.
Mayor Mike Duggan supports the tax break.
“Two-thousand permanent jobs. Those 2,000 workers pay city income taxes. There’s 7,500 construction jobs. Those jobs pay city income taxes and those taxes do go to the neighborhoods,” Duggan said. “The police, the fire, the parks and the like. We want this building to be built as large as possible or the long term viability of the city.”
The city council is scheduled to meet at 10 a.m. Tuesday, June 21 to discuss the matter.
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