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Brownfield Tax Increment Financing Projects

  • Brownfield Tax Increment Financing Projects

    As of July 13, 2016, the following Brownfield Tax Increment Financing (TIF) projects have been approved by the Michigan Strategic Fund. These projects could contain other MSF support. 

    Click here for more information on Brownfield Redevelopment and TIF. 

  • Plazacorp Realty – 216/220 West Michigan
    • Approval Date:   October 21, 2016
      Location:   Kalamazoo
      Projected Investment:   $2,409,138
      Tax Increment Revenue:   $160,958
      Taxes Levied for School Operating Purposes:   $66,073
    City of Ferndale – Axle Brewing Company
    • Approval Date:   October 19, 2016
      Location:   Ferndale
      Projected Investment:   $2,800,000
      Tax Increment Revenue:   $212,503
      Taxes Levied for School Operating Purposes:   $88,874
    City of Albion – Downtown Albion Hotel Project
    • Approval Date:   September 27, 2016
      Location:   Albion
      Projected Investment:   $9,587,408
      Tax Increment Revenue:   $963,416
      Taxes Levied for School Operating Purposes:   $355,693
    Chamber Support Corporation –
    • Approval Date:   September 27, 2016
      Location:   Owosso
      Projected Investment:   $4,272,778
      Tax Increment Revenue:   $394,650
      Taxes Levied for School Operating Purposes:   $179,092
    Third & Grand LLC – Third & Grand Redevelopment
    • Approval Date:   September 27, 2016
      Location:   Detroit
      Projected Investment:   $54,615,786
      Tax Increment Revenue:   $15,101,616
      Taxes Levied for School Operating Purposes:   $6,741,361
    Diamond Place LLC – Diamond Place
    • Approval Date:   September 27, 2016
      Location:   Grand Rapids
      Projected Investment:   $19,478,507
      Tax Increment Revenue:   $9,911,500
      Taxes Levied for School Operating Purposes:   $5,100,458
    Inn on Water Street, LLC – Inn on Water Street
    • Approval Date:   September 23, 2016
      Location:   Marine City
      Projected Investment:   $3,549,007
      Tax Increment Revenue:   $216,800
      Taxes Levied for School Operating Purposes:   $83,490
    Quimby Corner LLC – Quimby Corner LLC
    • Approval Date:   September 08, 2016
      Location:   Grand Rapids
      Projected Investment:   $11,310,000
      Tax Increment Revenue:   $425,725
      Taxes Levied for School Operating Purposes:   $203,071
    Market Avenue Place LLC – Markey Avenue Place Project
    • Approval Date:   August 23, 2016
      Location:   Grand Rapids
      Projected Investment:   $56,500,000
      Tax Increment Revenue:   $10,916,593
      Taxes Levied for School Operating Purposes:   $5,595,846
    Green Cane Property – Green Cane Property LLC Redevelopment
    • Approval Date:   August 23, 2016
      Location:   Grand Rapids
      Projected Investment:   $8,800,000
      Tax Increment Revenue:   $729,525
      Taxes Levied for School Operating Purposes:   $485,061
    Ferndale Haus Lofts LLC – Ferndale Haus Lofts
    • Approval Date:   July 26, 2016
      Location:   Ferndale
      Projected Investment:   $17,915,159
      Tax Increment Revenue:   $2,241,384
      Taxes Levied for School Operating Purposes:   $937,401
    601 West LLC – 601 West
    • Approval Date:   July 26, 2016
      Location:   Grand Rapids
      Projected Investment:   $19,040,500
      Tax Increment Revenue:   $3,674,190
      Taxes Levied for School Operating Purposes:   $1,890,003
    Ashley Capital – Tri-County Commerce Center Project
    • Approval Date:   June 28, 2016
      Location:   Hazel Park
      Projected Investment:   $36,000,000
      Tax Increment Revenue:   $5,751,200
      Taxes Levied for School Operating Purposes:   $2,340,163
    River's Edge Partners, LLC – 600 East Michigan Avenue
    • Approval Date:   June 28, 2016
      Location:   Kalamazoo
      Projected Investment:   $9,654,434
      Tax Increment Revenue:   $742,930
      Taxes Levied for School Operating Purposes:   $281,793
    City of Manistee – River Parc Project
    • Approval Date:   June 28, 2016
      Location:   Manistee
      Projected Investment:   $4,051,624
      Tax Increment Revenue:   $2,980,685
      Taxes Levied for School Operating Purposes:   $1,261,128
    Strongback Properties, LLC – Strongback Four Corners Redevelopment
    • Approval Date:   June 28, 2016
      Location:   Adrian
      Projected Investment:   $1,620,313
      Tax Increment Revenue:   $392,375
      Taxes Levied for School Operating Purposes:   $361,291
    Spartan Motors, Inc. – Spartan Motors Expansion
    • Approval Date:   May 24, 2016
      Location:   Charlotte
      Projected Investment:   $6,650,000
      Tax Increment Revenue:   $943,800
      Taxes Levied for School Operating Purposes:   $398,021
    Peregrine PNC, LLC – Peregrine PNC
    • Approval Date:   May 24, 2016
      Location:   Kalamazoo
      Projected Investment:   $4,501,360
      Tax Increment Revenue:   $648,596
      Taxes Levied for School Operating Purposes:   $238,618
    Hamel Brennan Properties, LLC – Skypoint Ventures Redevelopment Project
    • Approval Date:   May 05, 2016
      Location:   Fenton
      Projected Investment:   $4,980,000
      Tax Increment Revenue:   $323,663
      Taxes Levied for School Operating Purposes:   $145,487
    Grand Rapids Properties 1, LLC – GR RISE-Benson and Grand Avenue
    • Approval Date:   April 26, 2016
      Location:   Grand Rapids
      Projected Investment:   $53,763,059
      Tax Increment Revenue:   $8,882,556
      Taxes Levied for School Operating Purposes:   $4,562,969