Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing topic
No spam. Unsubscribe anytime.
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. "We estimate the tax increment revenue that we'd forego over a 30 year period to be approximately $4,100,000," staff said.
Staff described the proposed development as 54 units (36 one‑bedroom, 18 two‑bedroom) with 16 units designated as workforce housing for residents earning up to 120% of area median income. Elizabeth Masserang, the consultant to the developer, explained that recent statewide changes expanded Brownfield use to support workforce housing and outlined the Brownfield plan and reimbursement process.
Board members probed revenue assumptions, asked whether the forgiveness of increment represented a net loss to current revenues, and confirmed that the DDA would forgo increment (not base revenue) if the project proceeds. Director Walker disclosed a financial interest and abstained from the vote; the motion to authorize staff to proceed moved, seconded and passed by voice vote.
The transcript records the board authorizing staff to align with the Brownfield Authority, planning and city leadership and to return with the final agreement for formal approval at a later meeting.
