[CPEO-BIF] Limit on Ann Arbor, Michigan subsidies

[Lenny Siegel <lennysiegel@gmail.com>]

Brownfield redevelopment snag at 601 Forest may cause complications for 
Oakland developers

Dan Meisler
Ann Arbor Business Review (MI)
September 18, 2008

The 601 Forest student high-rise project triggered City Council meetings 
featuring angry neighbors, resistant policy makers and frustrated 
developers.

But a less-noticed aspect of the 25-story, 1,400-bed development on 
South University could add a financial complication - the brownfield 
tax-capture is likely to be smaller than requested by developers Dan 
Ketelaar and Ron Hughes.

...

Because the project is in the city of Ann Arbor, it is technically 
eligible for brownfield financing for non-environmental expenses 
included some infrastructure work, sidewalks and site improvements. But 
the committee was only inclined to approve environmental costs such as 
removing contaminated soil from the site of a former dry-cleaner.

...

For the entire article, see
http://www.mlive.com/businessreview/annarbor/index.ssf/2008/09/brownfield_redevelopment_snag.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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