Webfor the Brownfield Redevelopment Financing Act program is Act 381 of 1996, as amended (Act 381). ... There are 295 BRAs in Michigan, and approximately 467 brownfield plans … WebA TBP is a type of Brownfield Plan under Act 381 that allows for the capture of five sources of new tax revenues associated with a project, in addition to incremental revenue from property taxes. The five kinds of revenues from tax capture are as follows: (1) construction period income tax; (2) construction period sales
Brownfield Redevelopment Act Bay City, MI
WebThe Brownfield Redevelopment Financing Act, 1996 Public Act (PA) 381, as amended (Act 381) (Michigan Compiled Law [MCL] 125.2651 through 125.2672) authorizes Brownfield Redevelopment Authorities (BRAs) to approve Brownfield Plans and Act 381 Work Plans that help revitalize, redevelop, and reuse contaminated, blighted, functionally … Web2 days ago · The developers intend to apply for transformational brownfield credits, $20 million in traditional brownfield credits, and Obsolete Property Rehabilitation Act incentives. The developers are communicating with city officials as well as the Michigan Economic Development Corp. as they compile a Transformational Brownfield Plan application. how to scan on hp 2700 printer
sigma.michigan.gov
WebII. Legal Context of Brownfield Redevelopment in Michigan Two provisions govern the redevelopment of contaminated and blighted land in Detroit: Section 201 of the Natural Resources and Environmental Protection Act (NREPA) and Act 381, the Brownfield Redevelopment Financing Act (BRFA). While its title refers to “brownfields,” WebApr 10, 2024 · Subtitle A of the Small Business Liability Relief and Brownfields Revitalization Act authorizes the United States Environmental Protection Agency ... In the Upper Peninsula of Michigan, a former mining industry brownfield site on beautiful Teal Lake has been cleaned up and transformed into a Senior Living Facility with 38 … Web2 days ago · Supporters say it could make Michigan a national leader in addressing affordable housing needs; ... housing and housing-related activities to the list of what’s eligible for tax increment financing under the state’s Brownfield Redevelopment Financing Act. In other words, developers in communities that opt in to the program could get tax ... north mississippi truck trader