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County committee approves $1.9 million Brownfield TIF for Carlisle Townhomes in Pontiac
Summary
Oakland County planning staff presented a Brownfield plan to support demolition and construction of 19 townhomes, including permanent supportive housing units and a small community center; the finance committee approved a $1.9 million tax-increment financing ask with a 20-year payback period.
The Oakland County Finance Committee voted to approve a Brownfield plan and tax-increment financing (TIF) request for the Carlisle Townhomes project at 204 West New York Street in the City of Pontiac.
Brad (Bridal) Hanson of the county Brownfield program, appearing with Oakland County Planning Division staff, told the committee the project would replace a former school building (which staff said is beyond repair) with 19 townhome units, a 500-square-foot community center intended for after-school activities and resident education, and a playground.
Hanson said the developer — in partnership with Community Housing Network — asked the county to capture incremental property tax revenues to reimburse demolition, public infrastructure improvements and gap financing. The TIF request presented to the committee was $1,900,000 with a 20-year payback period. Staff described the…
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