More Than 1,000 Homeowners Apply for Assistance From New Gilbert Detroit Property Tax Fund
Quicken Loans founder Dan Gilbert recently unveiled a very ambitious goal of eliminating the property tax burden for up to 20,000 low-income homeowners in Detroit. The move is part of a $ 500 million investment aimed at building what the Gilbert Family Foundation calls an “economic opportunity” in the Detroit neighborhoods.
“It protects its investments in order to stabilize larger parts of the city. I think he actually takes care of the city. – Louis Aguilar, Bridge Detroit
Often times when social problems intersect with private dollars, things can get complicated.
Listen: Louis Aguilar cancels $ 500 million investment.
Louis Aguilar is a senior reporter for BridgeDetroit.
He says Gilbert needs to strike a balance between the investments he’s made in downtown Detroit and the neighborhoods. “When he’s invested so much in Detroit to find such an imbalance between a shimmering image of a downtown area and neighborhoods where it’s hard to get a mortgage, things are still struggling, protecting his investment,” he said says.
Aguilar notes that Detroiters have faced many problems in recent years, such as the subprime mortgage crisis that hit Detroit particularly hard.
He believes Gilbert is serious about his investment in the Detroit neighborhoods. “It protects its investments in order to stabilize larger parts of the city. I think he actually takes care of the city, ”says Aguilar, who also notes that it is fair and important to ask questions about how Gilbert’s influence on tax structures could promote inequality in the city.
Web story by Allise Hurd
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