Oh that's great news! This may sound odd, but personally I think they should restore the places that are more structurally sound, like that Vanity Ballroom...it looks from the photo to be in better shape than some of the other places...

they should restore what they can, because while it might sound bad to spend the money on such places now...in the long run, shouldn't it create local events for people to attend - and therefore more money will be spent locally?

Like if they restored the ballroom - held a Swing concert there...something 'period' - they could bring money into Detroit. Heck, they could probably host a great 1930s -40s show there of some sort.