A street sign showing Detroit’s city limits is shown near where a former Chrysler McGraw glass plant is being torn down along Ford Road in Detroit, March 22, 2011. (AP)
A street sign showing Detroit’s city limits is shown near where a former Chrysler McGraw glass plant is being torn down along Ford Road in Detroit, March 22, 2011. (AP)
A street sign showing Detroit’s city limits is shown near where a former Chrysler McGraw glass plant is being torn down along Ford Road in Detroit, March 22, 2011. (AP)

(USA Today) DETROIT — Michigan’s governor will travel Friday to the former Globe Trading Co. building on Detroit’s waterfront to sign a package of bills that will send almost $200 million to the city to help it emerge from bankruptcy.

The 122-year-old building, formerly an auto manufacturing facility and foundry, serves as a powerful symbol because it, like the city, is transforming, GOP Gov. Rick Snyder said.

“The Globe building is a great representation of the comeback of Detroit,” Snyder said. “It’s a 100-year-old-plus building that was essentially vacant in the last 20 years. It was one of the key industrial buildings in Detroit for decades. It’s been vacant and now it’s coming back.”

The building on Atwater Street along the Detroit River had been targeted for demolition when a plan emerged to place all three casinos in Detroit along the riverfront between the Renaissance Center and Belle Isle. But that plan died, and the building fell into disrepair until the state invested $12.8 million to transform it into a recreation center for the 10-year-old, 31-acre William G. Milliken State Park along the river.

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