New Cobo Name Erases Connection to Former Racist Mayor
Minnesota based financial firm paying for naming rights for twenty two years
The new name of Detroit's Cobo Center will be TCF Center.
Chemical Bank announced they had purchased the naming rights for the building, but delayed the name change announcement pending their acquisition of TCF Financial Corporation based in Minnesota.
The deal covers 22 years with the banking institution paying $33-million.
The name change was prompted after complaints were raised about the policies of former Detroit Mayor Albert Cobo in the 1950s.
Current Detroit Mayor Mike Duggan first discussed a name change about a year ago and called Cobo's administration "government by exclusion."