LANSING, Michigan - Communities and revitalization of urban areas scored a big victory today when the Senate concurred in the House changes to SB 566, 567, 568, 644, and 556. These bills create the Community Revitalization Program and the Business Development Program, which replace the repealed Brownfield and Historic and MEGA tax credits.
These programs both tap into a $100 million fund created in the state budget for fiscal year 2010-2011The League worked closely developing these bills in workgroups with the Legislature and Governor. They hit a temporary roadblock in the House when an amendment was added to the bills that would severely limit the use of this money for blighted and obsolete properties. With the urging of the League, Governor, MEDC, developers, and other parties, that amendment was removed. The bills are expected to be signed into law when presented to the Governor (definitely before the end of the year, when the credits officially are repealed). Go here to read an issue advisory that explains some of the background into this complicated Brownfield tax credit issue.
Click here to read the press release.
Andy Schor is the Assistant Director of State Affairs for the Michigan Municipal League. Contact him at (517) 908-0300 or at aschor@mml.org.
The Community Revitalization Program will help cities clean up properties like this one.
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