Friday, August 04, 2006
Michael Shore, MEDC
Brownfield Incentives Attract $36 Million in Private Investment and 25 Jobs
Governor Jennifer M. Granholm today announced four brownfield redevelopment projects that are expected to create as many as 25 jobs and involve more than $36 million in private investments in Michigan downtowns. The redevelopments in Bay City, Detroit, Ferndale and Taylor are resulting from assistance provided by the Michigan Economic Development Corporation.
The redevelopment projects announced today:
- Bay City:A brownfield Single Business Tax (SBT) credit worth $583,899 will be used to renovate the historic Pere Marquette Train Depot located at 919 Boutell Place. Marquette Train Depot LLC, the developer, will invest $5,838,990 to renovate the functionally obsolete structure to serve as a tourism hub and way station for Great Lakes cruise passengers. Five new full-time clerical and administrative jobs will be created.
Detroit:CharlotteHoliday Townhouses LLC will rehabilitate two historic Victorian buildings at 66 and 74 Charlotte Street just west of Woodward Avenue between the Medical Center and Ford Field, creating 10 rental apartments. The developer will use a brownfield SBT credit worth $175,231 for roof, window and flooring replacement and new mechanical and electrical systems in the blighted and functionally obsolete properties, adding another $1.8 million in private investment.
In her 2006 State of the State address, Granholm emphasized the importance of making Michigan
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