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Bay County commissioners approve Brownfield plan to support $15 million Bay Valley Resort rehabilitation
Summary
The Bay County Board of Commissioners voted unanimously March 25 to adopt a Brownfield plan and use a tax-increment financing mechanism to help cover demolition, asbestos and mold remediation as part of a proposed $15 million rehabilitation of the Bay Valley Resort and Conference Center in Bay City.
The Bay County Board of Commissioners voted March 25 to adopt a Brownfield Plan for the Bay Valley Resort and Conference Center at 2470 Old Bridge Road in Bay City, authorizing capture of future property tax increments to help cover demolition, asbestos abatement and mold remediation tied to a proposed private redevelopment.
The plan is intended to help finance rehabilitation work tied to a planned $15,000,000 private investment by StoryCo and partners to restore the property to a full 147-room resort with restaurants, 14,000 square feet of meeting space and an 18-hole golf course. "This is a big project and there's a big need here," Nathan Nichols, founder of StoryCo, said during the public hearing.
Why it matters: county officials and the developer said environmental remediation costs and building repairs are critical to securing private…
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