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Magic Johnson's Michigan State Fairgrounds Development Proposal Accepted

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DETROIT, MI - The Michigan Land Bank Fast Track Authority on Thursday unanimously voted to accept a bid for the Michigan State Fairgrounds from Magic Plus, LLC, a group of investors that includes former NBA star Earvin "Magic" Johnson.

The Land Bank last year sought proposals for the historic Detroit property bordering Ferndale and Oakland County. The last state fair was held there in 2009 and the property currently costs taxpayers about $1 million to maintain.

Read the whole story at MLive