November 19, 2002
Governor John Engler announced today that the Michigan Economic Development Corporation has offered assistance to help redevelop two brownfield sites in Inkster and Port Huron. The projects are expected to generate more than $115 million in private investment.
"Michigan’s urban revitalization efforts continue to bring investment and jobs to urban cores across the state," said Governor Engler. "These brownfield redevelopment projects are just the latest in a long line success stories that have meant more jobs and new opportunities."
The Carver Homes Subdivision brownfield redevelopment project in Inkster was approved to receive the benefits of brownfield tax increment financing totaling more than $4.3 million. About $15 million in private investment will be made in this new development. The financing will primarily be used to prepare the neighborhood for redevelopment.
The site preparation activities will include infrastructure removal and replacement and the demolition of existing structures. The neighborhood has long been in disrepair and lacks the sufficient infrastructure to support development. The property was originally developed during World War II to fill the low income, short-term housing needs of the large influx of workers who supplied labor for the war effort.
The Acheson Ventures Desmond Landing project in Port Huron received approval for brownfield tax increment financing and a Single Business Tax credit totaling up to $8.2 million to help redevelop a blighted waterfront area. The project is expected to generate nearly $100 million in private investment. A mixed-use development is planned on the 50-acre site that will include residential, retail, corporate business and recreational elements. The development is expected to include the headquarters of SEMCO Energy, an educational maritime center featuring marine themed public open space and a pedestrian mall.
Brownfield tax increment financing will be used to improve the general infrastructure of the site including sidewalks, gutters and storm and sanitary sewers to support the new development. The Single Business Tax credit will assist with the construction of a 100,000 square foot headquarters building for SEMCO and a portion of a parking deck. The project is expected to generate nearly $100 million in private investment.
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life. For more information on the Michigan Economic Development Corporation’s initiatives and programs, visit the Web site at www.michigan.org.