[CPEO-BIF] Heritage Hil, Grand Rapids, MI

[Lenny Siegel <lennysiegel@gmail.com>]

[This appears to be another creative use of the Brownfields concept in 
Michigan. There is no hint of contamination in the article.  - LS]


Interesting mix of tax incentives jumpstarts $4.5M Heritage Hill condo 
project

By Deborah Johnson Wood
Rapid Growth (MI)
January 31, 2008

OPRA. Brownfield. NEZ. These are all terms that hold a special place in 
the hearts of the developers of 345 State Street SE, the former Park 
Professional Building across from historic Foster Park. If everything 
goes as planned, the two-story structure will soon be a four-story mixed 
use development with 14 residential condos above commercial and office 
space.

The developers, Stratus Properties, LLC, received an Obsolete Properties 
Rehabilitation Tax Abatement (OPRA) capping property taxes on the 
existing building at the current level for the next 12 years.


...

For the entire article, see
http://www.rapidgrowthmedia.com/developmentnews/state0131.aspx

-- 


Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
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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