$44M Investment to Improve Area Around Old Tiger Stadium
The Checker Cab building across the former Tiger Stadium site in Corktown is set to undergo a major transformation thanks to a $21 million Comerica Bank loan, $1 million contribution from the city, and $2.9 million in historic tax credits.
Prospects Dim for Proposed MI Angel Investor Tax Credit
The restoration of an angel tax credit in Michigan looks doubtful before the present legislative term expires at the end of the year. Leadership in the House has told Farrington that the bills are not a priority, especially with the low level of support coming out of committee.
MSF Approves $150M in Private Activity Bond for St. Marys Cement
Michigan Strategic Fund (MSF) approved St. Marys Cement company's inducement resolution on Wednesday, awarding approximately $150 million in private activity bonds to the company.
Lansing Red Cedar Project Seeks $35M in Bonds
Developers of a $380 million project proposed at the former Red Cedar Golf Course say they want help from Ingham County to finance their project, although they have yet to present county officials with details that could sell them on the proposal.
MEDC Releases Bi-Annual Entrepreneur Report
This summary highlights the recent impact of MEDC's Entrepreneur & Innovation initiative as well as notable growth throughout Michigan's entrepreneurial ecosystem over the past several months.
Umbaugh Raises Its Ranking in Top 200 CPA Firms in the Nation
Umbaugh is the most active firm of municipal financial advisors in the nation that pairs the ethics, structure, quality control and business discipline of a CPA firm with the skills and knowledge of a municipal financial advisor.
MI Bills Could Create $3B Investment in Detroit
A state Senate committee is scheduled to consider a package of five bills that could help redirect state tax revenues to fuel redevelopment projects on brownfields. Projects would receive state money by "capturing" a portion of the sales or use tax within the property and income taxes paid by residents who live there.
MI County Lists Demands in Return for $35M in Loan Guarantees
Developers of the $380 million Red Cedar Renaissance project said that they will agree to a bundle of pointed legal, environmental, and tax provisions in exchange for Ingham County taxpayer help to finance some of the massive infrastructure needed to avoid flooding at the site.
Crowdfund to Partially Fund New Kalamazoo Bike Path
If the online campaign raises $50,000 by Nov. 7 donations will be matched by a grant from the Michigan Economic Development Corporation and Michigan State Housing Development Authority to develop a downtown connection to the Kalamazoo River Valley Trail.
La-Z-Boy to Anchor New Brownfield Development in Taylor
The entire retail 3.4-acre site is an $8.4M investment including construction of a 23,200-square-foot commercial building, anchored by a La-Z-Boy store (15,600-square-feet). The remaining space will be occupied by retail and restaurant tenants.
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