DETROIT (AP) — The state has approved Detroit’s transfer of 301 city-owned properties to a Michigan land bank authority in exchange for $1.4 million from the Canadian government as part of plans for an international commuter bridge.
The proposal was approved Friday in Lansing by the Local Emergency Financial Assistance Loan Board.
All of the properties are in southwest Detroit and within the footprint of the New International Trade Crossing over the Detroit River between the city and Windsor, Ontario.
Canada is paying most of the $2 billion project’s cost and plans to recoup the money through tolls. Officials say they hope to open the bridge in 2020.
The loan board also approved transactions Friday that will help Detroit settle financial claims as the city goes through its bankruptcy.
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