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Pontiac council approves community benefits deal, concurs with Brownfield plan for 28 North Saginaw
Summary
The Pontiac City Council on March 3 approved a community benefits agreement for the 28 North Saginaw redevelopment and concurred with the Oakland County Brownfield Redevelopment Authority’s Brownfield plan, enabling the project to seek county-level tax-increment support. The council also approved a payment plan to the city’s attainable housing fund.
The Pontiac City Council voted to approve a community benefits agreement for the 28 North Saginaw redevelopment project and to concur with the Oakland County Brownfield Redevelopment Authority’s Brownfield plan, moving the downtown conversion forward.
Manager Deborah Younger told the council the conversion will create about 114 apartments in the former People State Bank/ Pontiac State Bank building and that the developer is seeking Brownfield/TIF support. Because final construction costs are not yet set, Younger recommended the community benefits payment — a payment calculated as 0.05% of…
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