Michigan Receives $159M to Rehab Former Auto Manufacturing Sites
10/22/2010
"Today marks another important step in Michigan's economic recovery," said Governor Jennifer Granholm. "Cleaning up these former GM sites will allow new companies a greater opportunity to invest in Michigan and create jobs. I commend the Obama administration and Michigan's economic development team for their work to bring this process to a close, and urge that the court proceedings move as quickly as possible."
As part of the settlement announced by the U.S. Department of Justice, an environmental bankruptcy trust will be established to assume ownership and possession of the properties, and fund, administer, and return the sites to good use.
Some Michigan cities receiving the largest amount of funds from the settlement include Ypsilanti, which will receive $43.5 million for four sites; Flint, which will receive $42.4 million for nine sites; and Lansing, which will receive $18.6 million for four sites.
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