[CPEO-BIF] Michigan projects approved

[Lenny Siegel <lennysiegel@gmail.com>]

Development at ex-Kmart HQ gets tax breaks

By JOHN GALLAGHER
DETROIT FREE PRESS
May 20, 2008

The proposed Pavilions of Troy mixed-use retail and residential project 
got a boost today when the State of Michigan approved tax incentives for 
the project.

In addition, the state approved brownfield tax credits for two projects 
in Detroit. One would create a 90,000-square-foot shopping center near 
Warren and Livernois. The other would create a 10,000-square foot 
commercial-retail building near Cass and Warren on the former site of a 
gas station near Wayne State University.

...

The most visible of the various projects is the one in Troy, where the 
Pavilions project is slated to rise on the site of the former Kmart 
headquarters on Big Beaver Road. Under the approval announced Tuesday, 
the City of Troy will use state and local tax incentives worth $13.2 
million to support the new $320-million Pavilions project on the 40-acre 
Kmart site.

...

For the entire article, see
http://www.freep.com/apps/pbcs.dll/article?AID=/20080520/BUSINESS06/80520070/1019


See also
Tax credits, brownfield approved for 3 Oakland projects
by Sven Gustafson
Oakland Business Review (MI)
May 20, 2008

Three projects in Oakland County, including the redevelopment of the 
former Kmart Corp. headquarters in Troy, will move forward after a state 
panel on Tuesday approved tax incentives and brownfield redevelopment plans.

The projects are expected to create more than 1,000 jobs combined and 
generate more than $334 million in investment.

...

For the entire article, see
http://www.mlive.com/business/index.ssf/2008/05/tax_credits_brownfield_approve.html
--


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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