State Rep. Ben Frederick of Owosso recently attended a bill signing ceremony for a new Michigan law that will help communities revitalize abandoned properties that otherwise likely would never be redeveloped.
The brownfield redevelopment laws were signed by Gov. Rick Snyder at a ceremony in Saginaw last week.
Leaders in communities both large and small from across Michigan supported the plan, saying it could provide new purpose for abandon properties that otherwise would be too costly to clean up and redevelop. Under the new law, developers could temporarily capture a portion of sales tax and income tax generated by a project to cover cleanup and remediation costs.
“Every community in our state has that spot – or sadly, spots – that keep us looking backward rather than forward,” Frederick said. “With this new economic development tool, communities large and small can look ahead to the next chapter of growth as abandoned and contaminated sites become revitalized points of light in our state.”