[CPEO-BIF] Water Street, Ypsilanti, Michigan

[Lenny Siegel <lsiegel@cpeo.org>]

Freed backs out of Water Street

City to evaluate what steps to take without a preferred developer

By Dan DuChene
Ypsilanti Courier (MI)
December 13, 2006


Negotiations for a Water Street developer have fallen through for a 
second time since 2001.

Joseph Freed and Associates, the city's second selected developer, 
decided to cease negotiations for a development agreement, citing the 
state's poor economy and slow housing market as the primary reasons. Ed 
Koryzno, Ypsilanti's city manager, made the announcement in a memo on 
Friday.

...

"What we need to do is assess the amount of cleanup we can perform on 
our own," Koryzno said.

In his memo, Koryzno said the city still has more than $1.25 million 
remaining in grants and loans for building demolition and environmental 
cleanup.

...

For the entire article, see
http://www.ypsilanticourier.com/stories/121406/loc_20061214004.shtml

--


Lenny Siegel
Director, Center for Public Environmental Oversight
c/o PSC, 278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org


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