LANSING, Mich. — Two neighborhood-led stakeholder groups are expected to move forward with plans to improve key business corridors in the city of Lansing, building on a solid 10-year foundation of planning and collaboration with the city of Lansing, according to Mayor Andy Schor.
Schor proposed updating and improving existing corridors in addition to adding two additional corridor improvement authorities, according to Schor's office.
The improvement authorities will provide the necessary financing tools for redeveloping commercial properties, eliminating blight, making streetscape improvements, promoting economic growth and more.
“Corridor improvement has been a goal since my campaign. We want walk-able corridors that generate excitement, jobs and vibrancy at the entrances to the city of Lansing,” said Mayor Schor. “Upgrading the Michigan Avenue CIA and the Saginaw Street CIA will have a tremendously positive impact on our east side and west side corridors. These corridors, in addition to the work that’s already started on Grand River in the Northwest of the city and on South Martin Luther King Jr. Boulevard in the southwest of the city, will greatly benefit all who live in and visit Lansing.”
The Michigan Avenue Corridor Improvement Authority (MACIA) and the Saginaw Street Corridor Improvement Authority (SSCIA) have booth had their Development and Tax Increment Finance plans approved by the Lansing City Council, according to Schor's office.
The plan details the priorities and goals for the corridors and provides a revenue source to fund corridor improvements without raising property taxes or creating new taxes, according to Schor's office.
According to Schor's office, the improvement plans are made possible by reinvesting revenue growth from increased property values back into the same corridor where it come from for the duration of the plans, which last is 15 years in this case.
After nearly a decade of work, we are excited that the City Council is supporting the Michigan Avenue Corridor Improvement Authority’s development plan, which will be a critical tool in continuing to make improvements along the corridor,” said Jonathan Lum, MACIA board chair. “Michigan Avenue is one of the most important corridors in our region, situated right on the path to our State's capitol. Moving forward, we will be looking to partner with other stakeholders to ensure we are maximizing the impact of our investments.”
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