Tuesday, November 11, 2008

Mayors want part of auto bailout | The Detroit News | detnews.com

Mayors want part of auto bailout | The Detroit News | detnews.com: "STERLING HEIGHTS -- The mayors of four large Metro Detroit communities on Monday called for a share of the federal bailout sought by Detroit's Big Three automakers to help redevelop shuttered facilities and factories.

The mayors of Warren, Sterling Heights, Livonia and Dearborn met at the Sterling Heights Public Library for about an hour to discuss the proposal. The mayors were joined by representatives from Gov. Jennifer Granholm's office, Michigan's congressional delegation, the Michigan Economic Development Corp., the Southeast Michigan Council of Governments and the Michigan Municipal League.

The four city leaders -- Warren Mayor James Fouts, Sterling Heights Mayor Richard Notte, Dearborn Mayor Jack O'Reilly and Livonia Mayor Jack Kirksey -- are calling for the proposed federal bailout of the auto industry to include a provision that would give their communities and others like them 20 percent of the assessed value of properties owned by car companies or auto parts makers within their borders for redevelopment."

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Cities in the bailout line--just as I predicted. This $700 billion isn't going to go far at this rate.

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