Politics & Government
Downtown Development Authority Will Pay $5 Million For New Park
Bond issues will provide $58 million for project to build new city hall, police station and park, along with contributions from the DDA.
The Royal Oak Downtown Development Authority (DDA) will contribute about $5 million towards the estimated $58 million cost of developing a new city center. The massive project will include a new police station, a new city hall and a seven-story parking garage, all overlooking a new park.
Royal Oak City Manager Don Johnson told the Daily Tribune that city-issued bonds will cover most of the project: a $40 million bond will cover the city hall and police station, while an $18 million bond will pay for the parking deck. The DDA will contribute about $5 million for the park, and the costs associated with plumbing and electrical for the new buildings.
“The DDA will contribute $737,000 annually for a term not to exceed 20 years” toward the city’s $40 million bond, Johnson told the Tribune.
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Rendering via the City of Royal Oak.
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