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City signs $3.5M EDA with MDC for Briarwood roadway improvements
Summary
The council approved a $3.5 million economic development agreement with the Midland Development Corporation for road work on Briarwood between Avalon Drive and Trovat Boulevard; combined with county and MDC funding the city's net cost will be reduced.
Council approved an economic development agreement with the Midland Development Corporation to fund roadway improvements on Briarwood Avenue. Staff said the full project is approximately $10 million with contingency; Midland County previously committed $2.5 million and the MDC’s 35% infrastructure commitment adds funding so that today's action provides $3.5 million of the needed investment.
Staff said the buildout of Briarwood will unlock undeveloped land and support future economic development. "This is just an excellent example of what partnerships can do for major infrastructure projects," staff said. The council thanked county partners and the MDC and voted unanimously to approve the agreement.
