May 18, 2010
May 18, 2010
Federal plan helps fast track state's Project Phoenix efforts
LANSING - Governor Jennifer M. Granholm today hailed the announcement of a landmark federal framework that will invest more than $800 million to speed the cleanup and redevelopment of closed GM plants in Michigan and 13 other states to put those facilities back into productive use. Michigan will garner the most funds of any state under the trust fund.
"Even as we work to finalize the trust agreement, we are extremely pleased the Obama administration is providing tools to help our local communities transform these iconic properties for the new economy," Granholm said. "This will indeed help turbo-charge our own Project Phoenix program to revitalize communities by reusing idled manufacturing plants."
Of the 90 sites covered by the plan, 47 are in Michigan. Affected communities include Bay City, Burton, Detroit, Flint, Lansing, Lansing Twp., Livonia, Mt. Morris, Pontiac, Romulus, Saginaw, Van Buren Twp., Wyoming and Ypsilanti.
The framework will allocate $536 million for the cleanup of the properties and approximately $300 million to assist the states and communities in dealing with property taxes, demolition costs, plant security costs, and other expenses.
Michigan's Project Phoenix program ( http://www.michiganadvantage.org/Project-Phoenix/Default.aspx), introduced by the governor in her State of the State address last February, brings the state, current and former property owners, businesses, communities, developers and other parties together to inventory and promote for reuse former manufacturing sites. The program includes buildings of 500,000 square feet or more and land sites of 80 acres or more where former manufacturing facilities already have been demolished.
"If companies are looking to expand or relocate, these properties will be available much sooner than we had anticipated," MEDC President and CEO Greg Main said. "This is a great day and a new beginning for Michigan. We are especially grateful for the efforts of the Departments of Treasury and Justice, the EPA, and Dr. Ed Montgomery, director of the White House Council on Automotive Communities and Workers."
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