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Public hearings set after committee approves Presbyterian Village Oakland Woods brownfield redevelopment plans
Summary
The committee recommended forwarding two linked brownfield redevelopment plans for the Presbyterian Village Oakland Woods expansion — a 4% and a 9% Low‑Income Housing Tax Credit component — and scheduled public hearings for April 10, 2025.
The Economic Development & Infrastructure Committee voted to recommend two linked brownfield redevelopment plans for the Presbyterian Village Oakland Woods expansion in Pontiac and forwarded both plans to the finance committee with public hearings scheduled.
Bradley (project presenter) described the two‑part financing package, explaining that the projects combine 4% and 9% Low‑Income Housing Tax Credit (LIHTC) components to form a “twinning” financing strategy intended to increase financing flexibility for the developer. Bradley said the…
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