Wasn’t Water Street supposed to pay for itself?

That is what was originally promised. Former Mayor Cheryl Farmer, one of the architects of Water Street, repeatedly said that no city taxpayer money would ever be spent on Water Street. To date, the City has spent nearly $3 ~ 4 million of property-tax revenues on Water Street and owes nearly $30 million more. More correctly, the City doesn’t owe the money – we do. That is because our city leaders pledged the full faith and credit of the good taxpayers of Ypsilanti to bail them out if this project failed. It did.