countypress

SEARCH  Go






Local News

PUBLISHED: Friday, April 4, 2008
Commission discusses commercial rehabilitation



IMLAY CITY-The Imlay City Commission discussed establishing commercial rehabilitation districts within the city at Tuesday's meeting.

Advertisement

Imlay City Manager Amy Planck noted the act allows certain rehabilitated property to receive a reduction in property taxes. The law applies to a multifamily housing building or group of contiguous buildings of commercial property 15-years-old or older located within a designated district of at least 3 acres in size. "It's an economic development tool the state offers," Planck said.

The commission discussed the possibility of a future district being established at the Imlay City Ford dealership. The dealership endured the collapse of the roof this past winter in its new car facility and is preparing to rebuild.

The establishment of a rehabilitation district would be set by resolution and would be similar to the Industrial Facility Tax exemption.

"I like it, maybe not for this parcel," said Commissioner John Lengemann, and added he wanted to see a list of eligible parcels in the city.

The city commission may grant an exemption for three to 12 years. Planck said once an application for a district is received, a public hearing is held and involved property owners are contacted.

In the commission's notes, Planck included a copy of the Village of Almont's IFT policy. In it, it states favorable tax abatements are likely to come about with non-polluting projects and projects that are high skilled and high paying jobs. Planck said Imlay City has a more stringent policy on IFTs.

"The prime place I'd like to see get cleaned up is the old A&P plaza," said Commissioner Marty Rankin. "I think it's a viable, usable tool. I think the property at M-21 and M-53 would work."

The commission discussed other district possibilities in the city. The commission made no decision.

Jennifer Decker can be reached at 664-0811, Ext. 8125 or jennifer.decker@lapeergroup.com.





TOP JOBS

TOP AUTOS

TOP HOMES

TOP RENTALS

TOP MERCHANDISE