Michigan municipalities are a step closer to getting incentives for developers to redevelop brownfield sites.
The state Senate passed legislation on Wednesday that assists developers with the financial burden of cleaning up brownfield sites. The legislation would let developers keep a portion of taxes collected after the projects are completed to recuperate some costs of cleaning up the site.
MIThrive is a coalition of economic development organizations, cities and chambers of commerce from all around the state that supports the legislation. Sites such as the Pontiac Silverdome and the Hayes Hotel in Jackson could benefit from this legislation.
GOP Sen. Ken Horn of Frankenmuth introduced the bills. He says they have made substantial changes from bills that failed to clear the Legislature last year.
