The idea of building on a contaminated site may be scary for some developers but those who decide to take the risk may be eligible for tax incentives. The term “brownfield site” is not heard often so you may be asking yourself, “What is a Brownfield Site?” According to the Environmental Protection Agency (EPA) the term “brownfield site” means the expansion, redevelopment, or reuse of the real property, which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant.
As part of the Michigan Economic Development Corporation range of tools, they offer the Community Development Brownfield Program. This program uses tax increment financing (TIF) to help reimburse brownfield-related costs. Such as demolition, lead and asbestos abatement, and infrastructure improvements.
Michigan Department of Environmental Quality also offers funding to local units of government and other public bodies to investigate and remediate known sites of environmental contamination in preparation for economic redevelopment projects.
To take advantage of these programs and more in Antrim, Charlevoix, Cheboygan, or Emmet Counties contact Northern Lakes Economic Alliance at firstname.lastname@example.org.