In Michigan
4:41 pm
Wed October 13, 2010

Bernero announces distressed property plan

DETROIT –


Democratic gubernatorial candidate Virg Bernero has proposed a plan to reclaim distressed property statewide and offer developers cheap or free land, interest-free loans, and no taxes for up to 12 years.

Bernero said Wednesday his "Make It in Michigan for Free" program would be paid for primarily through existing state and federal funding. He said the program would identify eligible land and buildings in struggling urban areas.

Bernero announced his plan at the abandoned Packard Motor Car plant, a symbol of Detroit's blight that produced its last automobile in the mid-1950s.

Republican gubernatorial candidate Rick Snyder favors eliminating the Michigan Business Tax and replacing it with a corporate income tax that would cut business tax $1.5 billion.

Election 2010 - WKAR
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