Michigan Loan Board approves 30-year Belle Isle lease deal

Emergency Loan Board approves state's 30-year deal to turn Belle Isle into state park

DETROIT - A Michigan board has approved leasing Detroit's 985-acre Belle Isle park to the state.

Gov. Rick Snyder and emergency manager Kevyn Orr signed a 30-year lease on Oct. 1 to make Belle Isle a state park, saving Detroit $6 million annually in maintenance. But the city council rejected the deal and instead voted for a 10-year lease.

The Local Emergency Financial Assistance Loan Board on Tuesday went with the 30-year lease instead of the 10-year lease. The board is made up of members of Snyder's administration.

Orr has asked a federal judge to place Detroit under bankruptcy protection.

Under the Snyder-Orr deal, Michigan would invest $10 million to $20 million over three years. There'd be an annual $11 per-vehicle admission charge as at other state parks.

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