Saginaw is seeing a lot of growth with projects like the CMU Medical School, planned Delta College Center, the Bancroft and Eddy Apartments, Farmer’s Market and more. Local leaders think legislation pending in Lansing could help keep it going.
The Michigan Senate is expected to vote on the Transformational Brownfield Tax Increment Financing legislation Tuesday. It’s for large-scale, mixed-use projects that are redeveloping brownfield sites, and that would otherwise have a difficult time without the help.
It would include capturing sales taxes and a portion of state income taxes to fill funding gaps. In Saginaw, that means projects that are at least $25 million, and include mixed-use plans.
(photo credit: Michael Percha, WSGW News Dept.)