From Crain’s Detroit Business:
LANSING — State economic-development officials are cheering the settlement of a long-running legal dispute and renewal of a key revenue stream to the state.
Gov. Jennifer Granholm, the Little River Band of Ottawa Indians and the Little Traverse Bay Bands of Odawa Indians on Friday announced the resolution of a federal lawsuit that involved the tribes’ obligation to share casino revenue with the state.
The tribes had halted payments in 2004. But under the settlement, tribal revenue-sharing will resume and the state will also receive about $26 million in previous payments that the tribes had put into escrow.
It’s good news to the Michigan Economic Development Corp., where tribal casino money pays for a variety of MEDC activities and nearly a third of MEDC employees’ salaries and benefits.
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