[CPEO-BIF] Old K-Mart HQ, Troy, Michigan

[Lenny Siegel <lennysiegel@gmail.com>]

Plan for old Kmart HQ hits key stage

BY GINA DAMRON
DETROIT FREE PRESS
April 12, 2008

The developer of the Pavilions of Troy -- a multimillion-dollar project 
planned for the old Kmart headquarters site on Big Beaver Road -- wants 
to be reimbursed $13.2 million for the cost of demolishing the old 
buildings.
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The city would have to approve a plan that would allow the developer to 
seek state brownfield tax credits, according to city officials. 
Richardson Development Group Inc. wants to be reimbursed for the costs 
of demolition and lead and asbestos abatement through taxes that the 
property will generate. Officials with the Reston, Va.-based group could 
not be reached for comment Friday.

The $300-million project will include a mix of restaurants, condos, 
retailers, offices and a hotel. City Assessor Nino Licari said the 
development on the 43-acre site is expected to generate $8 million a 
year in new taxes by 2018, when the project is scheduled to be complete.


...

For the entire article, see
http://www.freep.com/apps/pbcs.dll/article?AID=/20080412/NEWS03/804120318/1005

-- 


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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