The Detroit City Council voted this morning to kill the deal that would turn Cobo Hall, the riverside convention center which hosts the annual North American International Auto Show, over to a five-person regional authority.

The council voted 5-4 to retain Cobo Hall as property of the city of Detroit. 

Interim Mayor Kenneth Cockrel has boasted that finalizing the deal with the Governor Jennifer Granholm as one of his biggest accomplishments over his past six-month tenure as mayor.

Because the deal was voted down, Cobo Hall will remain property of the city of Detroit but Detroit will miss out on $20 million dollars and more than $200 million in renovations to the convention center.