Port Authority Asks for Financial Flexibility
Asks legislature to allow it to issue bonds for properties it does not own
Officials with the Detroit Wayne County Port Authority are working with legislators in Lansing to get new laws passed this year. The organization, which says it is the conduit between private sector businesses and the Port of Detroit, wants legislation that will allow it to issue bonds on behalf of private businesses along the riverfront. Detroit Wayne County Port Authority CEO, John Loftus tells WDET’s Amy Miller that last year, the state senate failed to pass laws that would allow the authority to issue bonds for properties it does not own. Loftus says legislation similar to the bills that failed last year will be tweaked and are expected to be re-introduced this session.
Click on the audio link above to hear the entire conversation
