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Fun With Funding!

Projects that need additional cash to get built are going to get some help thanks to something called New Markets Tax Credits. These credits can provide anywhere from 10% to 30% of a project costs and the nonprofit development agency Invest Detroit just scored a $30-million allocation. "Invest Detroit President Dave Blaszkiewicz said the tax credits are likely to support projects such as the city’s efforts to redevelop the Capitol Park district downtown and the redevelopment of the David Whitney Building into a mixed-used hotel, residential and retail center." [Freep]