(AP MODIFIED) - The Michigan House of Representatives and Senate approved legislation on Wednesday to help finance a project that would include a new hockey arena.
The bill will now go to the governor's desk for signature. It will allow use of tax dollars collected by the city's Downtown Development Authority for the project.
The Ilitch organization announced early in December that it is exploring the development of a new district in Downtown Detroit that would include residential, retail and office facilities and a multi-purpose events center.
This $650 million dollar plan would be a significant investment in the city's downtown area.
Christopher Ilitch, the president and CEO of Ilitch Holdings, Inc., released the following statement:
"The Ilitch organization would like to thank the Michigan State Legislature for passing HB 5463 today. In particular, we would like to thank the bill sponsor, Representative John Walsh (R-Livonia), Speaker of the House Jase Bolger (R-Marshall) and Majority Leader Randy Richardville (R-Monroe) for their efforts in passing this legislation that will have a significant impact on the creation of a catalytic economic development in downtown Detroit that all Michiganders can be proud. We look forward to continuing our work with the public sector to make this public private partnership a reality."