Redevelopment Sites and Brownfield Redevelopment

 

There are many sites in Michigan that are qualified Brownfields—contaminated, functionally obsolete, or blighted properties—which can be great redevelopment sites with the right financing. Under any of the Brownfield redevelopment sites incentives, sites that are remediated in Midwest areas may qualify for business tax credits. For example, a Brownfield redevelopment project that has $100,000 in eligible costs in demolition, contamination clean up, and site preparation will also raise the taxes paid by $10,000 per year once completed.  After getting local government approval, the developer would then make all the improvements including the Brownfield eligible expenses.  Each year after the developer pays their taxes the municipality will reimburse the new portion of taxes back to them until those eligible costs are reimbursed. If you are looking for sites in the Midwest for your project, the Brownfield redevelopment sites in Lansing, Michigan, these incentives as well as our other economic incentives, Michigan economic development grants and corporate relocations assistance show that Lansing is exactly where you want to be.


Brownfield TIF

Additional information from the Michigan Economic Development Corporation on the Michigan Brownfield program can be found here.