[CPEO-BIF] Northville Psychiatric Hospital, Northville, Michigan

[Lenny Siegel <lsiegel@cpeo.org>]

HIGHWOOD: No decision reached on brownfield redevelopment plan


By Pam Fleming
Northville Record (MI)
January 25, 2007

Northville Township Brownfield Redevelopment Authority members didn't 
come to any major decisions Monday night on Highwood, the former 
Northville Psychiatric Hospital property on Seven Mile Road.

But, they did agree to solicit bids for an environmental consulting firm 
to review Real Estate Interests Group's cleanup plans for the property.

The focus of the two-hour meeting was not to make a decision but to 
determine what it would take for the township to approve a brownfield 
redevelopment plan.

A brownfield redevelopment plan allows a municipality to pay back a 
developer for a cleanup project with the tax dollars captured after the 
land is developed.

The payback can be 100 percent of captured tax dollars until the 
developer is reimbursed or a percentage, such as 75 percent to the 
developer and 25 percent to the municipality.

The authority discussed at length the benefit of the township netting a 
portion of the captured tax revenue once the proposed retail-residential 
project is developed.

...

For the entire article, see
http://hometownlife.com/apps/pbcs.dll/article?AID=/20070125/BUSINESS/701250698/1079/NEWS12

--


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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