Monday, April 06, 1998
Governor John Engler announced today that the Michigan Jobs Commission has approved a $360,000 Urban Land Assembly Loan to the City of Boyne City in Charlevoix County. The loan proceeds will be used for the purchase of a vacant 120-acre parcel of land. The parcel of land to be purchased is contiguous with the existing 100-acre Boyne City Air/Industrial Park and will be developed as Phase II. The city is proposing to develop Phase II as a certified industrial park complete with all the necessary utilities including water, sewer, gas, and fiber optics. The proposed project is expected to create 150 new jobs."By creating quality business space, Boyne City will have the tools it needs to attract more businesses, which will create more jobs for their community," said Governor Engler. "Taking advantage of these funds will help Boyne City be ready to compete in the global economy of the 21st century."Currently, all parcels in the 100-acre Boyne City Air/Industrial Park have been sold and requests for purchase of industrial land continue to be received by the city. There is no serviced industrial land elsewhere in the city or surrounding area.The Urban Land Assembly Fund provides financial loan assistance to eligible municipalities for the acquisition of certain property for economic development purposes including industrial and downtown commercial projects. Directed towards revitalizing the economic base of municipalities experiencing economic distress and decline, recipients are required to repay the loans. The Michigan Jobs Commission, which administers the Urban Land Assembly Loan, works in partnership with local communities and Michigan businesses to retain and expand job opportunities and improve Michigan's overall business climate.