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Council approves Brownfield development reimbursement agreement for 17 E. Main
Summary
Council approved a Development and Reimbursement Agreement with 17 E. Main, LLC, a project staff said will support redevelopment, add housing inventory, and is projected to leverage about $7 million in private investment and roughly $2.9 million in tax increment revenue over 30 years (state retains ~$214,000).
Zeeland City Council approved on Oct. 20 a Development and Reimbursement Agreement with 17 E. Main, LLC as part of a Brownfield Plan intended to support redevelopment and housing creation.
City Manager Tim Klunder and Brownfield staff told the council the project is expected to attract approximately $7 million in private capital investment. Over the life of a proposed 30-year Brownfield Plan, staff projected roughly $2.9 million in tax increment revenue would be generated, with about $214,000 retained by the State for its brownfield fund, subject to Michigan State Housing Development Authority (MSHDA) approval of eligible Act 381 work.
The Brownfield Redevelopment Authority had approved the Development and Reimbursement Agreement at its recent meeting. On the council floor, Councilmember VanDorp moved to approve the agreement; Councilmember Broersma seconded and the motion passed unanimously.
Council later reappointed two members to the Brownfield Redevelopment Authority (Beth Blanton and Jeffrey Roon) for terms ending Oct. 31, 2028.
