Tag: Tax Increment Financing

Michigan legislature proposes improvements to Brownfields TIF program


The former Michigan Bell and Western Electric Warehouse is being rennovated to become a home for the Neighborhood Service Organization and 155 housing units for homeless individuals. The project is made possible by federal and state historic tax credits, federal brownfields tax credits and a 10-year tax abatement from the City of Detroit. Photo copyright by Michael G. Smith. Used with permission.

New legislation moving through the Michigan State Senate could make it easier for developers to clean up and rebuild on brownfields in the state.

Michigan’s Senate Bill 1210, an amendment to the state’s Brownfield Redevelopment Financing Act (Act 381), is likely to see significant changes this year. If enacted, the bill would promote urban development throughout the state, reduce regulatory requirements, streamline the approval process. Here’s an overview of how.

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