As far as giving the background on the Mercantile deal, I bow to the dean.

And on Wednesday, the City Council agreed to a $51 million bond to pay for a portion of converting a number of empty commercial buildings into residential and retail space, as part of the deal with Forest City Enterprises to renovate and redevelop the Mercantile Bank complex. Had the city not, it would have ended up with an empty Mercantile building project and a cost as high as almost $40 million.

And as Schutze noted, to ensure future bonds, the city will have to end offering businesses in the Downtown Connection Tax Increment Financing District property tax abatements and tax increment funding for quite a while.

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