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Commission approves brownfield plan, tax-capture sharing for 1 North River Road
Summary
The commission adopted a brownfield plan and tax-capture sharing agreement for Manchester Mount Clemens LLC’s redevelopment of 1 North River Road, authorizing a multi-decade reimbursement structure tied to tax increment capture.
The Mount Clemens City Commission on June 3 approved a brownfield redevelopment plan and a tax-capture sharing agreement for 1 North River Road and adjacent parcels, a project proposed by Manchester Mount Clemens LLC.
City administration and representatives from AKT Peerless explained that under the Brownfield Redevelopment Financing Act the developer will pay eligible site-rehabilitation and eligible-activity costs upfront and be…
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