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Commission approves Lynn Street redevelopment district and 12‑year tax exemption
Summary
Bay City commissioners voted unanimously to create an obsolete property rehabilitation district at 108–110 North Lynn Street and to grant a 12‑year tax exemption tied to a $255,237 incentive agreement; the property will still pay an estimated $157,000 in taxes over the exemption period, a commissioner said.
The Bay City City Commission on March 2 approved two measures to spur redevelopment at 108–110 North Lynn Street: creation of an Obsolete Property Rehabilitation District and a 12‑year obsolete property rehabilitation exemption certificate that staff said corresponds to a $255,237 tax‑incentive calculation.
Commissioner DeWitt, speaking during debate, emphasized the incentive is a tax‑exemption…
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