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Commission approves Lincoln Place tax-exemption request to aid downtown housing redevelopment
Summary
The Royal Oak City Commission approved a commercial rehabilitation exemption certificate for Lincoln Place, a downtown redevelopment project that developers say will deliver market-rate and 25 workforce housing units; the approval was the final local step before state review of school tax capture.
The Royal Oak City Commission voted Aug. 25 to approve a commercial rehabilitation exemption certificate for Lincoln Place, a downtown redevelopment project developers say will add market-rate housing along with 25 workforce units.
The commission’s approval, introduced by Commissioner Douglas and seconded during the meeting, is the final local administrative step in a multi-month review that included a brownfield plan and negotiation of development incentives. ‘‘This is sort of the last step in the local process,’’ consultant Joe Gastinelli of Michigan Growth Advisors told the commission, saying the exemption helps manage real-estate tax expenses…
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