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Brighton Council Discusses State Land Bank Agreement to Preserve Brownfield Options for Potential Parking Deck
Summary
Council heard staff explain why depositing city parcels into the Michigan Land Bank by December is needed to maximize Brownfield incentives should a downtown parking deck move forward; drafts expected at the next meeting.
Brighton city staff told the City Council on Oct. 14 they are close to finalizing agreements with the Michigan Land Bank that would let the city place select city-owned parcels into the land bank as a preparatory step for a potential downtown parking deck project and to maximize eligibility for Brownfield incentives.
Why it matters: Manager Gamolka said placing parcels in the state land bank would make them fully eligible for all Brownfield incentives under state statute, a step that can materially increase the tax-capture available to offset redevelopment costs. Staff said there is no tax loss while parcels are held by the land bank because they are city-owned, and parcels would revert to…
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