The news published 02/20/2019
According to officials, Cobo Center in Detroit plans to remove from its name the surname of a former mayor known for his racist policies.
On Wednesday, the Detroit Regional Convention Facility Authority announced that Cobo Center’s naming rights were sold to Detroit-based Chemical Bank in a 22-year deal that will bring $1.5 million a year.
Cobo Center’s new name will be announced later this year after Chemical Bank’s holding company acquires another financial institution.
Authority Chairman Larry Alexander said that this decision is a smart financial move that saves taxpayers’ money and at the same time removes the “negative history and connotation.”
Albert Cobo served as city mayor in the 1950s and advocated for segregating blacks from predominantly white neighborhoods. The convention center opened in Detroit in 1960.