Reaction: RenCen Going Non-Profit with $1B Gilbert Gift
Dan Gilbert just made a massive $1 billion announcement about the future of the Renaissance Center, giving $1 billion to convert and run the massive RenCen redevelopment through a 501(c)(4) non-profit.
That means no tax write-off for the owner of Rocket and the Cleveland Cavaliers, but a huge shift in how this cornerstone project will be developed and funded over the next 30 years — and maybe, perceptions of it.
In this special edition of Daily Detroit, we break down what this non-profit model actually might mean for the city.
We talk about:
Public Money vs. Private Donation: Why Brownfield…
The skinny
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