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Big Rapids commission schedules public hearing after detailed Brownfield financing briefing
Summary
Samantha, a Brownfield consultant, briefed the Big Rapids City Commission on Nov. 10 about recent changes that allow housing projects to use Brownfield tax‑increment financing and laid out the local and state approval steps.
Samantha, a Brownfield consultant, told the Big Rapids City Commission at its Nov. 10 meeting that state law changed in 2023 so "housing development is considered brownfield," allowing communities to use Brownfield tax‑increment financing for housing projects.
Samantha explained how a Brownfield Redevelopment Authority (BRA) can capture a portion of local tax increments for administrative costs and for a local Brownfield revolving fund to support site assessments and early work. "Typically, we see that between 5–10% of the local tax increment revenue capture," she said, and described a plan that would split 5% to administration and 5% to a local revolving…
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