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Grand Haven council reviews economic incentive policy; staff to return with drafted revisions
Summary
At a special work session, staff reviewed Grand Haven—s incentive tools (OPRA, commercial rehab, TIF) and proposed policy questions including whether to retain a 7.5% cap, set AMI targets for housing, require equity contributions and how the city uses third-party financial reviews; staff will draft revisions for EDC/BRA review.
Grand Haven—s mayor convened a special work session on April 13 for a detailed review of the city—s economic incentive policy and to collect direction from council on possible revisions.
Assistant City Manager Dana Colaway told council the purpose of incentives is to "maintain some competitiveness for investment" and to encourage development that aligns with the master plan. She reviewed the city—s common tools — OPRA (Obsolete Property Rehabilitation Act) abatements, commercial rehabilitation abatements and tax-increment financing (TIF) — and showed how TIF has increased taxable value on recent downtown redevelopment projects. "The intent is to provide the minimum incentive necessary, capping total incentives at 7.5% of…
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