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Brownfield plan for 500 Delano previews $12.6M development and TIF reimbursement
Summary
City staff previewed a Brownfield/TIF plan for a 42-unit housing development at 500 Delano with a total project investment of about $12.6 million; the plan would allocate roughly $4.4 million in TIF reimbursements and return about $1.5 million to the city over the TIF life. A public hearing is scheduled for Feb. 24.
Allegan — City staff gave a preview of a Brownfield redevelopment and tax‑increment financing (TIF) plan for a proposed housing project at 500 Delano Street that the Brownfield Redevelopment Authority approved for referral to council.
City Manager Joel described the overall numbers in the developer’s plan: a total project investment of approximately $12.6 million;…
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