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Developer says tax incentives are essential for Detroit 5 & Dime reuse; council delays final action pending ADA/technical details
Summary
City staff and developers described a $3.4 million rehab of a vacant 1947 building at 3703 3rd Ave that would use PA 255 and NEZ incentives to abate the tax on improvements; residents questioned accessibility, truck routing and environmental measures and the committee recessed the item to allow staff to supply code references.
Casey Jackson, real estate manager with the Detroit Economic Growth Corporation, told the Planning & Economic Development Committee that Detroit 5 & Dime LLC plans a $3.4 million renovation of a vacant 1947 two‑story building at 3703 3rd Avenue to create ground‑floor retail and a small residential component. Jackson said the developer is requesting a commercial facilities exemption certificate under Public Act 255 to abate the tax increase caused by the rehabilitation and recommended a 12‑year term for the abatement.
"With the $2.55 incentive it really is an incentive to promote the rehabilitation of existing structures," Jackson said, explaining that the…
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