[CPEO-BIF] Michigan Governor "Snyder signs ‘transformative’ brownfield legislation"

[Lenny Siegel <lsiegel@cpeo.org>]

Snyder signs ‘transformative’ brownfield legislation

by  Nick Manes

MiBiz (MI)

June 9, 2017

LANSING - Gov. Rick Snyder yesterday signed a package of bills that proponents say will add an additional tool to the economic development toolbox.

The “transformative” brownfield legislation has been touted by supporters as instrumental for undertaking redevelopment projects at sites requiring significant environmental remediation.

The bills would allow the developers of brownfield projects that meet certain investment thresholds to keep an added portion of the new tax revenue generated by the development and thus close the last existing financing gap for projects, according to supporters.

“As part of Michigan’s reinvention, it’s important that we continue to revitalize our downtowns, waterfronts and main streets to attract and keep talent and business continually growing in our great state,” Gov. Snyder said in a statement. “This legislation is key to closing existing funding gaps surrounding brownfield sites and creating vibrant communities where Michiganders can live, work and play.”

…

For the entire article, see
https://mibiz.com/item/24860-snyder-signs-‘transformative’-brownfield-legislation

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Lenny Siegel
Executive Director
Center for Public Environmental Oversight
a project of the Pacific Studies Center
P.O. Box 998, Mountain View, CA 94042
Voice/Fax: 650/961-8918 
<lsiegel@cpeo.org>
http://www.cpeo.org

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