[CPEO-BIF] Downtown Traverse City, Michigan

[Lenny Siegel <lsiegel@cpeo.org>]

$7.5 Million in Environmental Clean-Up Approved for Downtown

Traverse City Ticker (MI)
June 11, 2015

Grand Traverse County commissioners Wednesday approved reimbursing  
developers for $7.5 million in environmental clean-up costs in  
downtown Traverse City through an amendment to a local brownfield plan.



The amended Traverse City Place Brownfield Plan will cover  
contamination remediation at three major development sites: a five- 
story, mixed-used development by Federated Properties at 124 West  
Front Street; an eight-story, mixed-used development by Federated  
Properties at 145 West Front Street; and a proposed new Grandview  
Market on Grandview Parkway. Clean-up costs incurred by the Downtown  
Development Authority (DDA) and City of Traverse City for the planned  
reconstruction of Garland Street will also be covered under the plan  
amendment. Property developers will be required to pay for  
remediation costs upfront, then will receive reimbursement through  
taxes captured by the Brownfield Redevelopment Authority (BRA) over  
the lifespan of the plan.


...

For the entire article, see
http://www.traverseticker.com/story/7-5-million-in-environmental- 
clean-up-approved-for-downtown

--

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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