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DDA signals support in concept for 5th & Lafayette Brownfield/TIF plan, directs staff to return with final agreement
Summary
The DDA authorized staff to work with the Brownfield Authority and city on a Brownfield/TIF approach for the Acori 5th & Lafayette project — a concept that would forego an estimated $4.1 million in increment over 30 years in exchange for 54 mixed-use units, including 16 workforce units at 120% AMI; one director abstained because of a disclosed financial interest.
The Royal Oak DDA voted to authorize staff to continue working on a Brownfield‑based financing approach for the Acori Group LLC proposal at 5th & Lafayette and to bring a formal Brownfield plan back to the board.
Staff told the board the package is structured similar to prior "champion" projects but would run through the Brownfield Authority for a 30‑year term.…
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