$2B needed to wipe out Detroit's blight in 5 years, task force says | Detroit Free Press | freep.com:
"The task is immense, but the time is now.
That was the message Tuesday as Mayor Mike Duggan joined leaders of the Detroit Blight Removal Task Force to release the most in-depth road map ever to eradicate eyesore houses and trash-strewn lots from the city, a crucial next step in rebuilding bankrupt Detroit.
It will take $850 million to clean up residential neighborhoods and nearby retail strips over the next five years, and about $2 billion total when adding in huge commercial edifices such as the Packard Plant and the Michigan Central Station.
About $456 million in federal money and from other sources has been identified, leaving a gap of about $394 million still needed to clean up the neighborhoods.
That money could come from savings from the bankruptcy, officials said."