Tuesday, May 15, 2007
Michael Shore, MEDC
Southfield Project to Generate $3 Million Investment, 46 Jobs
State and local tax capture valued at $254,738 will support the redevelopment of a contaminated three-parcel site located at the northwest corner of Telegraph and 12 Mile which previously housed a Sunoco gas station and an abandoned manufacturing facility. The developer will demolish the existing buildings on the site, remove existing underground structures and storage tanks and construct a 16,000-square-foot retail and commercial development with parking.
MEDC President and CEO James C. Epolito said.
The Southfield brownfield redevelopment is one of six economic development projects Granholm announced today. In all, they are expected to create and retain a total of 5,420 Michigan jobs. Michigan brownfield programs provide incentives to invest in property that has been used for industrial, commercial or residential purposes and to keep that property in productive use or return it to a productive use. Brownfield incentives can be used for functionally obsolete, blighted, or contaminated property.
Brenda L. Lawrence said.
st century. Since January 2005, the governor and the MEDC have announced the creation or retention of more than 188,000 jobs as a result of targeted assistance provided by the MEDC.
MSHDA is a quasi-state agency that provides financial and technical assistance through public and private partnerships to create and preserve safe and decent affordable housing, engage in community economic development activities, and address homeless issues. MSHDA's loans and operating expenses are financed through the sale of tax-exempt and taxable bonds and notes to private investors, not from state tax revenues. For more information on MSHDA programs and initiatives, visit the Web site at www.michigan.gov/mshda.
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