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You'd think members of the Downtown Development Authority (DDA), who oversee massive financial projects, would have sound financial and legal backgrounds.
Think again. Some of the 12 board members have had full tax delinquent problems, and in some cases, criminal records, reports Robert Snell of The Detroit News:
An analysis of state and federal court records, tax filings and interviews raises questions about the ability of some DDA members to oversee one of the largest publicly subsidized downtown construction projects since Detroit emerged from bankruptcy. The analysis also reveals a shortcoming of Detroit’s appointment process, which did not require DDA members to undergo criminal or financial background checks.
Seven of the 12 appointed DDA members have a history of financial issues, including more than $500,000 in state and federal tax debt. A couple also have criminal convictions.
“Geez, I’d wonder about their economic and financial acumen,” says Dennis Zimmerman, a stadium financing expert and projects director with the American Tax Policy Institute in Washington, D.C. “If this happened where I live, I’d be concerned.”
