HomeMy WebLinkAboutResolutions - 2021.12.09 - 35086MOAKLANDF`��-
C U td T Y M I C II IG A N
BOARD OF COMMISSIONERS
December 9, 2021
MISCELLANEOUS RESOLUTION #21-474
Sponsored By: William Miller III
IN RE: Economic Development - Business Development - Resolution Approval of an Interlocal
Agreement between the Oakland County Brownfield Redevelopment Authority and the City of Novi
Corridor Improvement Authority for the Sakura Novi Brownfield Project
Chairperson and Members of the Board:
WHEREAS the Oakland County Brownfield Redevelopment Authority (OCBRA) approved a Brownfield plan
for the Sakura Novi project at its September 1, 2021, meeting: and
WHEREAS the Oakland County Board of Commissioners approved the Brownfield plan for the Sakura Novi
project with the adoption of MR #21437 at the October 28, 2021. Board meeting; and
WHEREAS the Sakura Novi project site is located within the City of Novi Corridor Improvement Authority
(CIA); and
WHEREAS an interlocal agreement between the OCBRA and the City of Novi CIA is needed to allow the
OCBRA to have the first claim on the Tax Increment Financing (TIF) capture for the site for the life of the
Brownfield plan: and
WHEREAS an interlocal agreement has been drafted and approved by Oakland County Corporation Counsel to
accompany the Brownfield plan and the reimbursement agreement for the Sakura Novi project: and
WHEREAS the interlocal agreement between the OCBRA and the City of Novi CIA outlines the roles and
responsibilities of both parties for the reimbursement of Tax Increment Financing (TIF) fields for eligible
activities on the Sakura Novi project: and
WHEREAS the OCBRA approved the interlocal agreement for the Sakura Novi project at its October 12, 202I,
meetine.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Cormilissioners approves the
attached Interlocal Agreement and authorizes the Chairperson of the Board of Connnissioners to sign the
Agreement with the City of Novi wlio have signed the Interlocal Agreement in support thereof.
Chairperson, the following Commissioners are sponsoring the foregoing Resolution: William hiller III.
27dDate: December 09, 2021
David Woodward, Commissioner
u ♦1 il{tA .r,, -, .,
Hilarie Chambers, Deputy County Executive II
Lisa Brown, County Clerk t Register of Deeds
COMMITTEE TRACKING
2021-12-01 Economic Development & Infrastructure - recommend to Board
2021-12-09 Full Board
Date: December 14, 2021
Date: December 15, 2021
VOTE TRACKING
Motioned by Commissioner William Miller III seconded by Commissioner Robert Hoffinan to adopt the
attached Resolution: Approval of an Interlocal Agreement between the Oakland County Brownfield
Redevelopment Authority and the City of Novi Corridor Improvement Authority for the Sakura Novi
Brownfield Project.
Yes: David Woodward, Michael Gingell, Michael Spisz, Karen Joliat, Kristen Nelson. Eileen Kowall.
Christine Long, Philip Weipert, Gwen Markham. Angela Powell. Thomas Kuhn, Charles Moss, Marcia
Gershenson, William Miller III, Yolanda Smith Charles, Charles Cavell, Penny Luebs, Janet Jackson, Gary
iMcGillivray. Robert Hoffman, Adam Kochenderfer (21)
No: None (0)
Abstain: None (0)
Absent: (0)
The Motion Passed.
ATTACHMENTS
EDI Packet Interlocal Agreement
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lisa Brown, Clerk of the County of Oakland, do hereby certify that the foregoing resolution is a true and
accurate copy of a resolution adopted by the Oakland County Board of Commissioners on December 9, 2021.
with the original record thereof now remaining in my office.
In Testimony Whereof, I have hereunto set my hand and affixed the seal of the Circuit Court at Pontiac,
Michigan on Thursday. December 9, 2021,
Ziso Browm Oakland Count, • Clerk -'Register ofDeedds
RESOLUTION TO APPROVE A INTERLOCA—L AGREEIb ENT
FOR THE SAKURA NOVI BROWNFIELD PROJECT
"PTnRFR t-) 7021
WHEREAS, Sakura Novi project in the City of Novi is facility under state statute; and,
WHEREAS, A Brownfield plan was approved with conditions by the Oakland County Brownfield
Redevelopment Authority (OCBRA) on September 1, 2021; and,
WHEREAS, a reimbursement agreement that outlines the roles and responsibilities of both Sakura Land
Development, LLC and the OCBRA for the development and reimbursement of funds for the Sakura Novi
project was approved by the OCBRA on September 1, 2021; and,
WHEREAS, a Interlocal agreement has been drafted by Oakland County Corporation Counsel to
accompany the Brownfield plan and the reimbursement agreement for the Sikora Novi project; and,
WHEREAS, the hrterlocal agreement between the OCBRA and the City of Novi Corridor Improvement
Authority (CIA) outlines the roles and responsibilities of both parties for the reimbursement of Tax Increment
Financing (TIT) hinds for eligible activities on the Sakura Novi project; and,
WHEREAS, the OCBRA has reviewed the proposed Interlocal agreement; now,
THEREFORE, BE IT RESOLVED, that the OCBRA authorizes the Board Chairperson to sign the
Interlocal agreement on behalf of the OCBRA.
Yeas- Tighe, Jamieson, Trigger, Webster, Woodward
Nays -
Peter Webster
Chairperson, Oakland County Brownfield Redevelopment Authority
A ,
� M i
AUTHORITY,! • ! i+
THIS TAX SHARING s ("Agreement")
Urban Cooperation Act, Public Act 7 of 1967, Extra Session, ("Act 7") and is between the
CITY OF NOVI ("Novi"), 45175 Ten Mile Road, Novi, Michigan 48375-3024 and the NOVI
GRAND RIVER CORRIDOR IMPROVEMENT AUTHORITY ("C.I.A,"), 45175 Ten Mile Road,
Novi, Michigan 48375-3024, THE OAKLAND COUNTY BROWNFIELD REDEVELOPMENT
AUTHORITY ("OCBRA'�, 1200 North Telegraph Road, Pontiac, Michigan, 48341 , and the
COUNTY OF OAKLAND ("County"), 1200 North Telegraph Road, Pontiac, Michigan, 48341.
Novi, the C,I.A., the OCBRA and the County may also be referred to as "Parties."
On December 4, 2017 Novi established the C,I.A and C.I.A. District pursuant to Public
Act 280 of 2005, now part of Public Act 57 of 2018 ("Act 57'� to redevelop its commercial
corridors and to promote economic growth, On December 17, 2018, Novi approved a
Development Plan and Tax Increment Financing Plan (TIF Plan"). The C.I.A. is authorized
to pay for certain eligible activities and to finance improvements by capturing the property
taxes levied on any incremental increase in property values within the development area
("Tax Increment Revenue'. The designated area generally includes properties fronting
Grand River Avenue extending the length of the City from Wixom to Haggerty Road. (" C.f.A.
District'.
Section 618(3) of Act 57 provides that a C.I.A, may enter into agreements with
taxing jurisdictions and the municipality establishing the C1A, to share a portion of the
captured assessed taxable value of the development area. On July 20, 2019, Novi, the
C.I.A. and the County entered into an agreement C'C,I.A, Agreement") to allow the
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Novi C,l.A,-Brawnfield Redevelopment Agreement —Oakland County Reclined Final8,27.21
C.I.A, to capture the Tax Increment Revenue generated by the County's General Operating
and Parks & Recreation millages from the properties listed in the C.I.A. Agreement, or
any future divisions of such properties. The C.I.A. Agreement required that the C.I.A. and
Novi submit to County's TIF Review Committee for review and approval any proposed
modification or amendments to the C.I.A. Development Plan and Tax Increment Financing
Plan. As set forth herein, this Agreement authorizes the C.I.A. to transfer one hundred
percent (100%) of County Tax Increment Revenue to the OCBRA.
The OCBRA was established by the County pursuant to Public Act 381 of 1996, as
amended ("Act 381") to facilitate the clean-up and redevelopment of brownfields within
County communities. On May 2, 2020, Novi adopted a Resolution stating that it believed
that the property located at Grand River and Town Center Drive currently commonly known
as 42750 Grand River Avenue and Town Center Drive and 42525 W. Eleven Mile Road in
addition to two (2) vacant parcels (moving from East to West along Grand River from Town
Center Drive), formerly called the Anglin parcel, with tax parcel ID numbers of 50-22-23-
126-006, 50-22-23-126-011, 50-22-23-226-007, and 50-22-23-226-008, respectively and
(`Eligible Property') is a facility under Act 381. Novi approved having the OCBRA carry out
a plan approved by the County Board of Commissioners for the redevelopment of the Eligible
Property {"Brownfield Plan'7. The Eligible Property is located within the C.I.A. District and
is now known as the "Sakura Project."
The Parties desire to enter this Interlocal Agreement to transfer one hundred
percent (100%) of the C.I.A. Tax Increment Revenue captured from the Eligible Property
to the OCBRA to reimburse the costs of the Act 381 eligible activities and other reimbursable
costs for the redevelopment of the Sakura Project pursuant to the Brownfield Plan,
The Parties agree as follows:
Page 2 of 6
Novi C.I.A.-Brownfield Redevelopment Agreement —Oakland County Redlined Final8.27.21
1. Caoture of Tax Increment Revenue by C.LA. That the C.I.A. will continue to
capture the Tax Increment Revenue it is authorized to capture pursuant to the TIF Plan
and the C,I.A. Agreement, including such Tax Increment Revenue resulting from the
capture of tax increments from taxes levied against the Eligible Property and shall
comply with the reporting requirements set forth in the C.I,A. Agreement during the
term of this Agreement, notwithstanding the amendment, expiration, or termination of
the C.I.A. Agreement and shall survive such occurrence.
2. Transfer and Use of Tax Increment Revenue. That one -hundred percent (100%)
of the Tax Increment Revenue captured by the C.I.A. on the Eligible Property pursuant to
the TIF Plan shall be transferred to the OCBRA to (i) reimburse the costs of eligible activities
and other reimbursable costs as identified in the Brownfield Plan and as permitted under Act
381, estimated to total $850,000,00; and (ii) after such costs are reimbursed under item (1)
fund the Oakland County Local Brownfield Revolving Fund (the "LBRF'� with $150,000 for
one (1) year as set forth in the Brownfield Plan for this purpose (which obligation shall not
be amended without the prior written consent of the County and the OCBRA) (the "LBRF
Contribution"), Subject to the limitation in Section 3, the transfers shall be paid by the C.I.A.
to the OCBRA annually within fifteen (15) days after the Warrant and Settlement has been
completed for Tax Increment Revenue received by the C.I.A. in the prior twelve (12) months.
3. Limitation to Tax Increment Revenue from Eligible Property. The C.I,A. shall only
transfer to the OCBRA the Tax Increment Revenue generated by the Eligible Property for
reimbursement of approved eligible activity costs and other uses (including the LBRF
Contribution) identified in the approved Brownfield Plan and authorized by Act 381. The
OCBRA shall provide the C.LA. with an annual accounting of the eligible activity costs. Upon
conclusion or dissolution of the Brownfield Plan, all Tax Increment Revenue (as defined in
Page 3 of 6
Novi C.I.A.-Brownfield Redevelopment Agreement— Oakland County Redlined Final 8.27.21
Act 57) generated by the Eligible Property shall be captured by the CS.A, and expended as
provided in the TIF Plan and the C.I.A. Agreement,
4. OCBRA as Aaent under This Aareement, The OCBRA is designated as the agent to
receive and disburse such Tax Increment Revenue generated by the Eligible Property as
provided in Section 2 above, until such time all obligations to reimburse the cost of the
eligible activities and other reimbursable costs, have been satisfied.
5. OCBRA as Aaent under Reimbursement Aareements. The OCBRA is designated as
agent to develop and enforce the terms of any reimbursement agreement executed with
outside parties pursuant to the approved Brownfield Plan.
6. Effective Date and Term. This Agreement Is subject to the respective boards of
the Parties and shall commence upon the date it is signed by all Parties. A copy of this
Agreement shall be filed with the Novi Clerk and transmitted by the County Clerk to the State
of Michigan as required by Act 7. This Agreement will terminate upon the date upon which
sufficient tax increment revenue is generated to, first, reimburse the eligible expenses for
redevelopment of the Eligible Property, and, second, satisfy the LBRF Contribution. Upon
termination or expiration of this Agreement, the C.I.A. shall have no further obligation to
transfer Tax Increment Revenue to the OCBRA.
If any provision contained in this Agreement is deemed unenforceable, to the extent
possible, the remaining terms shall remain in effect. This Agreement sets forth the entire
agreement between the Parties and fully supersedes all prior agreements or understandings
between them in any way related to this subject matter. It is further understood and agreed
that the terms and conditions herein are contractual and are not a mere recital and that
there are no other agreements, understandings, contracts, or representations between the
Parties in any way related to the subject matter hereof, except as expressly stated herein.
Page 4 of 6
Novi C.I.A.-Brownfield Redevelopment Agreement - Oakland County Redlined Final 8.27.21
This Agreement shall not be changed or supplemented orally and may be amended only in
writing and signed by the Parties after approval by their respective boards.
The Parties warrant that they each have the appropriate authority to enter into this
Agreement and that each are bound by the respective signatures below.
FOR AND IN CONSIDERATION of the mutual assurances, promises,
acknowledgments, warrants, representations, and agreements set forth in this Agreement,
and for other good and valuable consideration, the receipt and adequacy of which is hereby
acknowledged, the undersigned hereby execute this Agreement on behalf of the Parties, and
by doing so legally obligate and bind the Parties to the terms and conditions of this
Agreement.
NOVI CORRIDOR IP�ENT AUTHORITY (C.T,A.)
David Staudt
Its: Mayor Pro Tern
Date: 8/30/2021
THrCITY OF
By: 1l tG
Robert 1. Gat
Its: Mayor
Date: 8/30/2021
OAKLAND COUNTY BROWNFIELD REDEVELOPMENT AUTHORITY
Byt
Peter We ster
Page 5 of 6
Novi-C.I.A. Brownfield Redevelopment Agreement— Oakland County Redlined Final &27.21
16. cl 10;1 PJ t Sul t
Date: 1a'jif %d
OAKLAND COUNTY
By:
David T. Woodward,
Its: Chairperson, Hoard of Commissioners
Date:
Novi: Interlocal C.I.A. Brownfield Draft 062521
Page 6 of 6
Novi C.I.A.-Brownfield Redevelopment Agreement— Oakland County Redlined final 8.27.21
ESTABLISHMENT OF A COMMITTEE FOR TIIE SAKLTRA NOVI
BRO`iVNFIELD SITE SEPTEMBER 1, 2021
WHEREAS, per the Oakland County Brownfield Redevelopment Authority
(BRA) Bylaws, Article II Section Q. the Board shall appoint a committee for any such
proposed plan to allow for input of the city, village or township involved. The committee
shall consist of a minimum of one or more of the Directors of the Board, as well as one
elected official, or his/her designee from the affected city, village, or township. The
committee so appointed shall make recommendations to the Board, which shall include
or address any changes to the Brownfield redevelopment plan sought by the city, village
or township, as well as any other significant concerns or issues raised by the city, village
or township.
WHEREAS, Peter Webster and Ingrid Tighe (Oakland Countv BRA) and Victor
Cardenas (Assistant City Manager, City of Novi) have been designated to serve on the
Local Host Committee since July 26, 2021 for the Sakura Novi project.
WHEREAS, all parties involved with this project and the specific persons
nominated for this committee have been meeting about this project starting on July 28th
of 202l : and,
THEREFORE, be it resolved, to approve and ratify the appointment of Peter
Webster and Ingrid Tighe (Oakland County BRA) along with Victor Cardeneas
(Assistant City Manager, City of Novi) to serve on the Sakura Novi project conrrnittee.
Yeas- Merma. Trigger, Jamieson, Tighe, Webster, Woodward
Nays -
Peter Webster
Chairperson, Oakland County Brownfield Redevelopment Authority
RESOLUTION TO APPROVE A BROWNFIELD REDEVELOPMENT PLAN
FOR THE SAKURA NOVI BROWNFIELD SITE
SEPTEMBER 1. 2021
WHEREAS, the Sakura Novi site has been an underutilized parcel and a facility
under state statute: and,
WHEREAS, a clean up and redevelopment plan has been established to restore
the economic viability of this parcel; and,
WHEREAS, the local host committee consisting of Peter Webster and Ingrid
Tighe from the OCBRA and Victor Cardenas from the City of Novi have met and have
recommended the approval of the Brownfield plan; and,
WHEREAS, the BRA Board has reviewed the proposed plan; now,
THEREFORE, BE IT RESOLVED, the Brownfield Plan for the Sakura Novi
project is hereby approved by the OCBRA on September 1, 2021; provided that,
1. The Developer and the OCBRA agree upon a mutually acceptable
Reimbursement Agreement, and the OCBRA authorizes the Board
Chairperson to sign the reimbursement agreement on behalf of the
OCBRA.
2. The City of Novi and the OCBRA will agree upon a mutually acceptable
Imerloeal Agreement between the City, of Novi Corridor Improvement
Authority and the OCBRA, and the OCBRA authorizes the Board
Chairperson to sign the Interlocal agreement on behalf of the OCBRA.
3. The local taxes'will not exceed amounts approved in the 3SI Workplan.
4. The developer submits the 2017 BEA report
5. The two parcels (1 and 3) identified in the plan are combined with parcels
2 and 4 creating one parcel prior to the Oakland County Board of
Commissioners meeting.
BE IT FURTHER RESOLVED, to recommend the adoption of this plan by the
Oakland County Board of Commissioners, and its Finance and Infrastructure Committee,
Yeas -'trigger, Jamieson, Menna, Tighe, Webster, Woodward
Nays-
Peter Webster
Chairperson, Oakland County Brownfield Redevelopment Authority
CITY OF NOVI
COUNTY OF OAKLAND, MICHIGAN
RESOLUTION CONCURRING WITH THE PROVISIONS OF A
REVISED BROWNFIELD PLAN ADOPTED BY THE OAKLAND
COUNTY BROWNFIELD REDEVELOPMENT AUTHORITY FOR THE
SAKURA NOVI PROJECT
Minutes of a Meeting of the City Council of the City of Novi, County of Oakland,
Michigan, held in the City Hall of said City on July 26, 2021, at 7:00 o'clock P.M. Prevailing
Eastern Time.
PRESENT: Councilmembers Gaff, Staudt, Casey, Crawford, Fischer, Maday, Mutch
ABSENT: None
The following preamble and Resolution were offered by Councilmember Staudt and
supported by Councilmember Maday.
WHEREAS, The City of Novi adopted a "Resolution Concurring with the Provisions
of a Brownfield Plan" in connection with a potential development project known as
Sakura Novi, located at the northeast corner of Grand River Avenue and Town Center
Drive. A copy of that Resolution is attached hereto.
WHEREAS, the applicant in connection with that project has submitted a REVISED
proposed Brownfield Plan that reduces the amount of anticipated cost to no greater
than $850,000.
NOW BE IT THEREFORE RESOLVED the City of Novi hereby concurs with the provisions
of the REVISED Plan, and supports approval of the REVISED Plan by the Oakland County
Board of Commissioners, and implementation of the REVISED Brownfield Plan by the
OCBRA.
IT IS FURTHER RESOLVED the City of Novi acknowledges and understands that
OCBRA intends to collect certain administrative fees and certain taxes for its revolving
loan fund, which will be specified in detail in any Brownfield Plan before it is finally
adopted.
AYES: Gait, Staudt, Crawford, Fischer, Maday, Mutch (6)
NAYS: Casey (1)
RESOLUTION DECLARED ADOPTED.
Cortney Rdnson City Clerk
I hereby certify that the foregoing is a true and complete copy of a resolution adopted
by the City Council of the City of Novi, County of Oakland, and State of Michigan, at a
regular meeting held this 26th day of July, 2021, and that public notice of said meeting
was given pursuant to and in full compliance with Act No. 267, Public Acts of Michigan,
1976, and that the minutes of said meeting have been kept and made available to the
public as required by said Act. hn i
Cortney Hanson, City Clerk
City of Novi
OAKLAND COUNTY
FEFZTSVNTF;, •�
SAKURA NOVI
P , , .
DULY 27, 2021
Date Approved by BRA:
Date Approved by Board of Commissioners:
Prepared Bv:
41700 W. Six Mile Rd., Suite 101
Northville, Michigan 48168
Contact Person: Paul F. Bohn
Telephone: (248) 380-0000
TABLE OF CONTENTS
PROJECT SUMMARY...........................................................................
1
I.
INTRODUCTION AND PURPOSE ...................................................
2
II.
GENERAL PROVISIONS...............................................................
2
A.
Description of the Eligible Property (Section 13 (2)(h)) and Project ..........
2
B.
Basis of Eligibility (Section 13 (2)(h) and Section 2(u)) ...........................4
C.
Summary of Eligible Activities and Description of Costs (Sec. 13 (2)(a-b)) .
4
D.
Estimate of Captured Taxable Value and Tax Increment Revenues
(Sec. 13 (2)(c))..............................................................................5
E.
Method of Brownfield Plan Financing and Description of Advances
by the Municipality (Sec. 13 (2)(d))....................................................6
F.
Maximum Amount of Note or Bonded Indebtedness (Sec. 13 (2)(e)) .........6
G.
Duration of Brownfield Plan (Sec. 13 (2)(f)).........................................
6
H.
Estimated Impact of Tax Increment Financing on Revenues of
Taxing Jurisdictions (Sec. 13 (2)(g))..................................................
6
I. Legal Description, Property Map, Statement of Qualifying
Characteristics and Personal Property (Sec. 13 (2)(h)) .......................... 7
J. Displacement/Relocation of Individuals on Eligible Property
(Sec. 13 (2)(i-1))............................................................................ 7
K. Other Material that the Authority or Governing Body Considers
Pertinent (Sec. 13 (2)(m))............................................................... 7
APPENDICIES
Appendix A Legal Description
Appendix B Property Location Boundary
Appendix C Preliminary Site Map
Appendix D Documentation of Eligibility
TABLES
Table 1: Estimated Costs of Eligible Activities
Table 2: Tax Increment Revenue Capture Estimates
Table 3: Tax Increment Reimbursement Estimates
PROJECT SUMMARY
Project Name: Sakura Novi
Project Location: The property is located at 42750 Grand River Avenue in
Township one north (T.1 N), Range eight east (R.8E), Section
23, Novi, Oakland County Michigan 48375 (the "Property")
Type of Eligible
Property: The property is determined to be a "Facility"
Eligible Activities: Site Assessment and Baseline Environmental Assessment
Activities, Asbestos Containing Materials (ACM) Survey and
Abatement, Contaminated Soils Removal and Disposal,
Demolition, Specialized Foundations, Due Care Activities,
and Preparation of a Brownfield Plan and Act 381 Work Plan.
Developer Reimbursable
Costs: $850,000 (includes eligible activities and 15% contingency)
Years to Complete
Reimbursement: Approximately 5 years from start of capture
Estimated Capital
Investment: Approximately $45-55 million (Including hard and soft costs,
excluding the cost of land)
Project Overview: The project includes demolition of existing buildings and the
construction of an approximately 17-acre mixed -use
development which will include restaurants, supporting retail,
pro office, and 118 townhome apartments. It is estimated that
600 construction jobs will be created. The residential
development will generate two permanent jobs and the
commercial development will generate approximately 170
permanent jobs. The increase in jobs and addition of new
development on the Property will result in an increase of City
tax revenue.
INTRODUCTION AND PURPOSE
In order to promote the revitalization of environmentally distressed, historic, functionally
obsolete and blighted areas within the boundaries of Oakland County ("the County"), the
County has established the Oakland County Brownfield Redevelopment Authority
(OCBRA) the "Authority" pursuant to the Brownfield Redevelopment Financing Act,
Michigan Public Act 381 of 1996, as amended ("Act 381 ").
The purpose of this Brownfield Plan (the "Plan") is to promote the redevelopment of and
investment in eligible property within the City and to facilitate financing of eligible activities
at the property. Inclusion of property within any Plan in the City will facilitate financing of
eligible activities at eligible properties, and will provide tax incentives to eligible taxpayers
willing to invest in revitalization of eligible sites, commonly referred to as "Brownfields."
By facilitating redevelopment of the property, this Plan is intended to promote economic
growth for the benefit of the residents of the City and all taxing units located within and
benefited by the Authority.
The identification or designation of a developers or proposed use for the property that is
subject to this Plan shall not be integral to the effectiveness or validity of this Plan. This
Plan is intended to apply to the eligible property identified in this Plan and to identify and
authorize the eligible activities to be funded. Any change in the proposed developers or
proposed use of the eligible property shall not necessitate an amendment to this Plan,
affect the application of this Plan to the eligible property, or impair the rights available to
the Authority under this Plan.
This Plan is intended to be a living document, which may be modified or amended in
accordance with and as necessary to achieve the purposes of Act 381. The applicable
sections of Act 381 are noted throughout the Plan for reference purposes.
This Brownfield Plan contains information required by Section 13(2) of Act 381, as
amended.
II. GENERAL PROVISIONS
A. Description of the Eligible Property (Section 13 (2)(h)1 and Project
The eligible property consists of four (4) legal parcels totaling approximately 17 acres with
street addresses of 42750 Grand River Avenue and 42525 West Eleven Mile Road, Novi,
Oakland County, Michigan. These parcels and all tangible personal property located
thereon will comprise the eligible property and is referred to in this Plan as the "Property."
The Property is located on the northeast corner of Grand River Avenue and Town Center
Drive and is bounded by Grand River Avenue to the south, Town Center Drive to the
west, Eleven Mile Road to the north and City -owned wetland to the east. Individual parcel
information is outlined below and legal descriptions for each parcel are included in
Appendix A. A property location map is included in Appendix B.
z
Parcel No. 1 (ID 22-23-126-006) is currently zoned OS-1 (Office Service District) and
OSC (Office Service Commercial). The parcel is partially developed with a closed car
wash and an equipment building.
Parcel No. 2 (ID 22-23-226-008) is currently zoned 1-1 (Light Industrial) and is
undeveloped.
Parcel No. 3 (ID 22-23-126-011) is currently zoned 1-1 (Light Industrial) and is developed
with the Ecco Tool building.
Parcel No. 4 (ID 22-23-226-007) is currently zoned 1-1 (Light Industrial) and is
undeveloped.
The Property is anticipated to be rezoned as a Planned Rezoning Overlay to
accommodate the proposed future use.
Standard and other historical sources were used to document that the Property was
developed in 1897 when a residential building and garage were built. By 1940 a second
residence was constructed on the northwestern portion of the Property. The Property
continued to be used for residential purposes until 1967 when it was occupied by the
present-day equipment building located on the southern portion of the Property, and a
large pond/wetland on the western portion of the Property. By 1972, the current car wash
building was present on the southwestern portion of the Property. The first recorded
occupant of the Property was J Anglin Top Soil in 1973.
Robert B. Aikens and Associates, LLC and Sakura Novi Land Development, LLC or any
affiliate, and Robertson Brothers Homes or such other developers, are collectively the
project developer ("Developer"). Robert B. Aikens and Associates, LLC, was founded
over 40 years ago and has since developed over 20 million square feet of retail,
commercial and residential real estate throughout the country. Aikens has successfully
connected retail trends to local communities and provided residents with facilities that
seamlessly blend into the local social and architectural fabric. Similarly, Robertson
Brothers Homes has been building beautiful communities with a wide array of home styles
in Southeast Michigan for over 70 years. The proposed project outlined within this plan is
part of continued efforts by Aikens to produce innovative community -focused
development projects.
The development is intended to be a "best in class" collection of several Asian-themed
restaurants along with supporting retail and 118 units of residential townhomes. The
project will feature a walkable, open air environment, located on a 2-acre pond
surrounded by Japanese -influenced gardens and situated at one of the most highly
populated bighway intersections in southeast Michigan. The development will create a
vibrant cultural community after decades of underutilization of the Property. The creation
of the mixed -use space on the Property will create numerous jobs and a regional
marketplace destination. The addition of residential units to the area will also create
desired housing stock within the City of Novi. Both commercial and residential uses will
Q
lead to the influx of new employees and residents into the area and result in an increased
spinoff in consumer spending.
Construction is anticipated to begin in late Summer or early Fall of 2022 and be
substantially completed by late Summer/early Fall of 2025. The Developer will invest an
estimated $45 to $55 million in the development, create approximately 600 construction
jobs, and create opportunity for approximately 170 future permanent retail jobs.
A preliminary site plan is included in Appendix C.
B. Basis of Eliaibilitv (Section 13 t2Nh) and Section 2(u)l
The Property is considered "Eligible Property" as defined by Act 381, Section 2 because
it is a "Facility" or adjacent to property that is a facility. The Property was determined to
be a Facility based on environmental site assessments that identified contamination at
levels exceeding the applicable Michigan Department of Environment Great Lakes and
Energy ("EGLE") cleanup criteria as a result of historic land uses on the Property.
C. Summary of Eligible Activities and Description of Costs (Sec. 13
2 a-b
State school and/or local tax increment revenues where appropriate will be used to
reimburse the costs of "Eligible Activities" (as defined by Section 2 of Act 381) and as
permitted under the Act 381 that include: Site assessment and Baseline Environmental
Assessment activities, Asbestos Containing Material (ACM) survey and abatement,
contaminated soils removal and disposal, Due Care activities, and preparation and
implementation of a Brownfield Plan and Act 381 Work Plan. An itemization of these
activities and associated expenses is included in Table 1.
The following eligible activities and estimated costs are intended as part of the
development of the Property and are to be financed solely by the Developer. All activities
are "Eligible Activities" under Act 381. The Authority is not responsible to finance for any
cost of Eligible Activities and will incur no debt.
1. Preparation and implementation of the Brownfield Plan and Act 381 Work
Plan and associated activities, including reasonable attorney fees for these
efforts, at a cost of approximately $52,000.
2. Site Assessment and Baseline Environmental Assessment Activities
include a Phase I Environmental Site Assessment (ESA), Phase II ESA,
Baseline Environmental Assessment (BEA) as required as part of the pre-
purchase due diligence conducted on the Property at a total cost of $7,950.
3. ACM survey and abatement at an estimated cost of $18,000.
4. Due Care Investigation at an estimated cost of $25,000
4
5. Removal, transport and disposal of contaminated soil at an estimated cost
of $294,000.
6. Due Care Activities at an estimated cost of $30,000.
7. Special Foundations at an estimated cost of $270,000.
8. Demolition at an estimated cost of $50,000.
A 15% contingency of $103,050 to address unanticipated environmental
and/or other conditions that may be discovered through the implementation
of site activities. This contingency excludes the cost of Baseline
Environmental Assessment Activities and preparation of the Brownfield
Plan and Act 381 Work Plan.
The total estimated cost of these Eligible Activities subject to reimbursement from tax
increment revenues is $746,950 with a potential $103,050 contingency, resulting in a total
cost of $850,000.
Therefore, the total cost for reimbursement to the Developer is a not -to -exceed amount
of $850,000 (including contingency), unless the Plan is amended and approved by the
OCBRA and the Board of Commissioners.
D. Estimate of Caotured Taxable Value and Tax Increment Revenues
(Sec. 13 (21LcJJ
Incremental taxes on real property included in the redevelopment project will be captured
under this Plan to reimburse eligible activity expenses. The base taxable value of the
Property shall be determined by the use of the 2021 tax year tax value (the majority of
the Property is owned by the City of Novi and has a current taxable value of $0 as tax
exempt property). Tax increment revenue capture will begin when tax increment is
generated by redevelopment of the Property, which is expected to begin in 2022. The
estimated taxable value of the completed development utilized in the tax capture tables
(Table 2 and Table 3) is approximately $19 million. This assumes a three-year phase -in
for completion of the redevelopment, which has been incorporated into the tax increment
financing assumptions for this Plan. An annual increase in taxable value of 1 % has been
used for calculation of future tax increments in this Plan. A Commercial Rehabilitation
Exemption Certificate for the Property redevelopment was assumed to reduce local taxes
beginning in 2022 for a period of eight (8) years. Table 2 details the estimate of captured
tax increment revenues for each year of the Plan from the Eligible Property.
The OCBRA has established a Local Brownfield Revolving Fund (LBRF). Capture for the
LBRF is included in this Plan following Developer reimbursement, currently established
at $150,000. The funds deposited into the LBRF as part of this Plan will be used in
accordance with the requirements of Act 381, as amended.
Payment of Brownfield Redevelopment Authority Administrative Fees of $5,000/year will
occur annually prior to reimbursement of the Developer.
Act 381 also requires a portion of the tax increment revenue created by the
redevelopment to be placed in the State Brownfield Fund, which amount is anticipated to
be $149,083.
E. Method of Brownfield Plan Financina and Description of Advances.
by the Municipality (Sec. 13 (21(d►i
Eligible activities will be financed by the Developer. The Developer will be reimbursed for
eligible costs as described in Section C and outlined in Table 1. Costs for Eligible Activities
funded by the Developer will be repaid with incremental taxes generated by future
development of the Property. The estimated amount of tax increment revenue capture
that will be used to reimburse the State Brownfield Fund, Developer, LBRF, and the
Brownfield Redevelopment Authority is not to exceed $1,174,083. This includes
Brownfield Redevelopment Authority Administrative fees.
No advances will be made by the Authority for this project. All reimbursements authorized
under this Plan shall be governed by a Reimbursement Agreement.
F. Maximum Amount of Note or Bonded Indebtedness (Sec. 13 (2)(e)1
No note or bonded indebtedness will be incurred by any local unit of government for this
project.
G. Duration of Brownfield Plan (Sec. 13 (2)(f))
In no event shall the duration of the Plan exceed 35 years following the date of the
resolution approving the Plan, nor shall the duration of the tax capture exceed the lesser
of the period authorized under subsection (5) of Section 13 of Act 381 or 30 years.
Further, in no event shall the beginning date of the capture of tax increment revenues be
later than five years after the date of the resolution approving the Plan. The Property will
become part of this Plan on the date this Plan is approved by the Oakland County Board
of Commissioners.
H. Estimated Impact of Tax Increment Financing on Revenues of Taxing
Jurisdictions (Sec. 13 (2)(a))
Taxes will continue to be generated for taxing jurisdictions on local and state captured
millages at the base taxable value of the Ad Valorem parcel throughout the duration of
this Plan totaling annually approximately $12,000.
Non -capturable millages; including the zoo authority, art institute, and school debt will
provide new tax revenue of approximately $35,000 throughout the capture duration of this
Plan. A proposed Commercial Rehabilitation Act tax abatement is also being sought as
part of the local contribution to the project, which is projected to begin in 2022 and run
through 2029.
See Table 2 for a complete breakdown of available tax increment revenue and Table 3
for the estimated tax increment reimbursement.
19
I. Leaal Description. Property Map. Statement of Qualifvinq
Characteristics and Personal Property (Sec. 13 (2)(h))
The legal descriptions of the Property included in this Plan is attached in Appendix A.
A Property location map is included in Appendix B.
A preliminary site plan is included in Appendix C
Documentation of characteristics that qualify the property as eligible property pursuant to
Act 381 are provided in Appendix D.
J. Disvlacement/Relocation of Individuals on Eligible Property (Sec. 13
2 i-1
The Property is currently unoccupied with the exception of the Ecco Tool building and car
wash building. No displacement of residents or families is expected as part of this project.
K. Other Material that the Authoritv or Governina Bodv Considers
Pertinent (Sec. 13 (2)(m)t
The Brownfield Redevelopment Authority and the Oakland County Board of
Commissioners as the Governing Body, in accordance with Act 381, may amend this Plan
in order to fund additional eligible activities associated with the project described herein.
X:\PFB\Robertson BrotherslSakura Way\Brownfield Plan Docsl- Amended Brownfield Plan Documenls\FINAL GSA Brownfield
Plan DRAFT RB Redline 7.27.21.docx
APPENDIX A
LEGAL DESCRIPTIONS
SAKURA NOVI
LEGAL DESCRIPTIONS OF ELIGIBLE PROPERTY
PARC) EL1
I
ID Number: 22-23-126-006 j
A parcel of land located in and being part of the east 1/2 of the northwest ; /4 of Section 23, TAN.,
RAE., City of Novi, Oakland County, Michigan, being more particularly descr t ad as follows:
Commencing at the North 1/4 comer of said Section 23, thence proceeding South 89 Degrees 34 `
Minutes 00 Seconds West 290.50 feet along the North line of said Section 23 and the centerline of
Eleven Mlle Road to the point of beginning; thence South 00 Degrees 26 Minutes 00 Seconds East i
891.67 feet (recorded as South 00 Degree 17 Minutes 20 Seconds East 891.25 feet) to a point on the +
centerline of Grand River Avenue (US-16); thence North 71 Degrees 44 Minutes 00 Seconds West I
652.02 feet (recorded as 650.70 feet) along said centerline of Grand River Avenue (North half 50 feet
wide); thence North 682.64 feet (recorded as 682.62 feet) to a point on the North line of said Section
23, said point being located North 89 Degree 34 Minutes 00 Seconds East 433.84 feet (recorded as
419.90 feet and assessed as 433.70 feet) from the 1/16 comer located at the Northwest corner of the
I
East 1/2 of the Northwest 1/4 of said Section 23; thence continuing North 89 Degrees 34 Minute 00 _
Seconds East 612.44 feet (recorded as 613.40 feet) along said North line of Sccuon 23 and centerline
of Eleven Mile Road (South half 33 feet wide) to the point of beginning.
PARCEL f
ID Number: 22.23-226-008
Land situated In the City of Novi In the County of Oakland in the State of Nd. Part of the Northeast
1/4 of Section 23, Town 1 North, Range 8 East, described as: .
Beginning at a point distant North 89 degrees 00 minutes East, 99.53 feet from the North 1/4 corner
of Section 23, thence North 89 degrees 00 minutes East, 155.14 feet; thence South 0 degrees 49
minutes 20 seconds East, 527,55 feet; thence South 89 degrees 00 minutes W=st,165,14 feet; thence
North 0 degrees 49 minutes 20 seconds West, 527.55 feet to the point of berinning.
PA c8 EL3
I �
ID Number: 22-23-126-011
Part of the Northwest 1/4 of Section 23, Town 01 North, Range 08 East, Nov, Township (now city
of Novi), Oakland County, MI described as: Beginning at a point distant South 89 degrees 00
minutes 00 seconds West 65.61 feet from North 1/4 corner of Section 23; thence South 00 degrees I
44 minutes 20 seconds East 527.55 feet; thence South 89 degrees 00 minutes 00 seconds West
61.82 feet; thence North 71 degrees 53 minutes 30 seconds West 170,00 feet,, thence North 01 '
degrees 00 minutes 00 seconds West 471.87 feet; thence North 89 degrees 00 minutes 00 seconds
East224.89 feet to the point of beginning,
PARCEL4
ID Number: 22-23-226-007
Part of the Northwest 1/4 of Sectlon 23, Town 01N, R, 08E„ Novi Township (now City of Novi) Oakland
County, Michigan. Described as beginning at the North 1/4 corner of Section 73, thence North 89
degrees 00 minutes CD seconds East 99.53 Feet; thence South 00 degrees 44 rnlnutes 20 seconds East
527,55 feet; thence South 89 degrees 00 minutes 00 seconds West 1651-1 feet; thence North 00
degrees 44 minutes 20 seconds West 527.55 feet; thence North 89 degrees 00 minutes 00 seconds
East 65.51 feet to the point of beginning.
APPENDIX 9
LOCATION MAP
onwG ava�b
opTE;10(InJ201a
APP1fOVE0 by;a6
SIIEER20F3
(SOURCEI GOGGLE MAPS)
PROPOSED SARUM WAY DEVELOPMENT
4275G GRAND RIVER AVENUE
NOVI, MICHIGAN 48375
APPENDIX C
PRELIMINARY SITE PLAN
1,
))�
\g$
)
, g
�!7
}
\�
\
r
I
APPENDIX 1)
DOCUMENTATION OF ELIGIBILITY
9
I
TABLE t
Brownfield Eligible Activities Costs
Sakura Way, Novi Michigan
Amount
Brownfield Plan & Act 381 Work Plan
1.
Preparation and Implementation
$
52,000
12.
Environmental Site Assessments and BEA
$
7,950
13.
Asbestos Survey and Removal
$
18,000
14.
Due Care Investigation
$
25,000 1
15.
Contaminated Soil Management
$
294,000
16,
Due Care Activities
$
30,000
17,
Special Foundations
$
270,000
8.
Demolition
$
50,000
Subtotal Eligible Activities
$
746,950
15 o Contingency for items 3-8
$
103,050
1
interest on Capital Costs
$
-
ITOTAL
$
- 850,000
Table 2
Tax Increment Revenue Capture Schedule
Sakura Novi, Novi Michigan
Plan
Approval
Tax Capture
EitlmRd Tan bit Val We OV) Ircreme Rate:
1%noryear
Plan Year
Base Year
1 I
2 I
3
4 I
5
6
7
8
Stabraed
TOTAL
Calendar Year
2021
2022
2023
2024
2025
2026
2027
2028
2029
_ 2030
Base Taxable Value
5
282.010
5_28LO10 S
281,010 $
281,D10 S
281,010
5 281,010 $
291.010
^-66,787
$ 281010
S 281,030
$ -
EstimatedLandTaxabieValue'
S 787,540
�'$
787,54p1,(j$
_
787,Si0
I!5
76,540�j�$
,f&7,546lj5
787,540'
S, 781_W''
S 797,5401
$ -
CommerualFroxenVilue
i5 E8,T87I15
68,7871'I$:
'68,7$7lli'
68 ji5
68,787!J$
'S 68,787'.5
68,787 lIS
-
Estimated Commercial Rehab VRhlc'
I'S
.3. , , •:{l$;1,$00A00
i
5.
1�000 �`$1 Q;911
S32,746,648 517,32p,11B
,S 18103316,_$
3$:284,390
S -
Est seated New Ad Valorem Value
S 19 604_S70
School Capture lnatmental Difference ((Land-Base)+Frozen+Rehab
$ 575,317 $
2,075,317 $
10,57S,317 8
18,146,256
$ 18,321,965 $
18,499,432
$ 18,678,6T3
5 18,859,707
$ -
LocalCapturelncremental Difference ((Land- Base) +Frozen
$ 575317 $
575,317 S
575,317 S
575,337
5 575,317 S
575,317
5 57SX7
$ $75,317
$ -
MiWinate'
State Education Tax (SET)
6.0000
S
1.686
S 3,452 S
12,452 S
53,452 S
109.878
5_ 109,932 5
110997
5 112,072
$ Mass
$ -
S
634.392
School OpentlAg Tax
172794
S
4,855
S 9,941 $
35,858 5
182,725 S
313.538
S 315,574 S
319,641
S 322,738
S 125,866
$ -
S
1.826,880
School Total 23.2784
S
6,541
S 13,392 $
49,310 $
246,176 $
422,415
$ 426,506 5
420,537
$ 434,810
$ 439,024
5 -
$
2,461,271
b ants '_ •....
_.. .. ...__-...___-
GeneralCity
47563
S
1,337
$ 2,736 $
2,736 S
2,736 5
2.736
S 2,736 S
2,736
S 2.736
5 2,736
$ -
$
21,891
libn,y
0.7312
5
20S
S 421 5
421_$
_ 421 $
421
S 421 S
421
5 421
S 411
5 -
S
3,365
Stree%
1.4215
S
399
S 81B S
818 5
818 S
818
S 818 S
818
S 818
S 818
$ -
6.543
policejFre
1.325
5
380
S 779 S
779 S
779 S
779
S 779 S
779
$ 779
5 T79
S -
S
IS
6.230
Parks&Be-
0.3653
S
103
5 _ 210 $
210 5
210 S
210
S 210 5
no
$ 210
S no
S -
$
1,681
Drains
05978
S
16S
S 3" ,S
344 5
344 5
344
S 344 S
344
S 344
S 344
$ -
IS
2.751
School Sink
0.4713
$
132
$ 271 S
271 S
271 S
271
S 271 $
271
S 271
S 271
$
$
2,169
Reaeahon
019365
5
263
S 539 S
539 $
$39 S
539
5 539S
539
S 539
S 539
S
Is
4310
Capital impra"reent
09526
5
268
S 548 S
548 S
Se8 5
548
5 548 $
548
S 548
$ 548
$ -
$
4.384
PA359 Edon Ovir
0.0123
5
3$
7 S
7 S
7$
7
S 7 S
7
5 7
9 7
S
i5
57
Oak County HCMA
0.2104
S
59
S 121 5
121 5
in $
121
$ 121 S
121
S 122
$ 121
_5 -
Is
968
Oak ISO Voted
3.0362
$
953
S L747 S
1.747 S
2,747 S
1,747
S 1,747 S
1,747
S 1,747
5 1,747
S -
IS
13,97a_
Oak ISO Allot
0.1919
5
54
$ no S
HO S
110 $
no
S no 5
no
5 no
5 110
S -
$
BR3
Oak County PK&RC
03500
S
98
S 201 S
201 S
201 S
201
S 201 5
201
S 201
S 201
S -
S
1.611
Oak CEunty Operating
4.0200
5
1.130
S 2,313 5
2313 S
1,313 S
2.313
5 2,313 $
2.313
5 2.313
5 2.313
5 -
S
18,502
Oak Comm College
15184
$
427
S 874 5
874 5
874 S
874
S 874 S
874
$ 874
$ 874
S -
S
6.988
Local Capturable Total 20.9251
S
5,380
$ 12,039 S
12,039 $
12,039 S
12,039
S 12,039 S
121039
5 12,039
5 12,039
5 -
$
96,309
'Tax revenue chart uses current rates as tithe Tlatel of the plan as approved by Oakland County Equalization
Actual rates of the taxing Iursrlictlons will be user! moving forwarr(a In the plan
Table 2
Tax Increment Revenue Capture Schedule
Sakure Novi, Novi Michigan
Plan APProval
7l+ Capture
frtimaud TanS'e value [.V) I:v^.ea.e Rnt: 194
per year
Plan Year;
leIse'/ear
j
1
1 2
3
.}
>
fi
7
8 StabEzed
TOTAL
Calendar Year
2021
2022
2023
2024
2025
M26
2027
2028
2029 2030
Base Taxable Value $
251,010
$
281,010
$ 281.010 $
221,010
$
221=0
$
281,010
5
281,010 5
281,OI0
5
283,010 $ -
Etvneted Lrd Taxable Value'
S
737-S O'!
5 73 7$40
737;540
", $
797,540; $
727,540
J $
797,540 5
73740'
$
787,540I
$ -
Commerc!al Frazer,Wl a
' S'
6$787
� S 68,787I,
,S
$
68,787
5 ,
68,787
:'$
'68,797
$
68,787:' 5,
63,7V:
5
63,7571
5 -
stne.ledCommerdalRehabValue•
I$-
.__ ' J�$.
1�SCU OCOyff,S_
,. -
10ADO,WO,
$, 1?,570,939,_$
37,146,649„$
1?,924,115-
_"imattdNawAdVaiorem\'alue
519.504,570
sen.efCap:ure troremnbl Difference((Urd-Base)+R. Rehab
$
S/5,3ll
$ 2,075,817 $
10S75,317
$ 13446,256
$ I8,321,9b5
$ 18,499,432
__.._...,.,..._., _... _ _._.. ,tart .........
'Nan-U"eblia'file M➢laee5.�-�_�., � �Mt 'e R2te.
li_"rary0ebt 0,347i 5
ED
5
'-W
5 200 S
200
5
IM
S
_ 200
5
ZCO F
?00
S
-'0-' 5
5 1,598
School Debt 7.W00 $
1,967
5
4.027
$ 4,027 5
4.027
$
dA27
$
_ 4,027
5
».027 _
4.027
5
4A17 S
$ 32.218
Oak. CaunW2oa 0.0?ES 5
27
5
56
$ 56 5
55
$
56
5
56
5
55 5
56
$
56 $ -
$ 444
O:.Fr lveSArt 0.1313 5
51
5
Ito
5 110 $
Ito
$
10
'$
110
5
Ito S
110
$
110 5 -
S 9w
Total Non -Capturable Tares 7.6349
2,145
$
4,392
9 4,392 $
4a92
5
4,351
5
4.392
5
99
4,2 $
4,392
S
4,392
SIMa:
Total 94ae Tax 5
14.567
Total Tax Increment Revenue pn) Av11a ble?or Capture
5
25,431
$ 60,349 5
258,215
S
434,:54
$
-438,545
$
442,676 $
"15,848
5
451,062 5 -
5 Ti8,4a9
Tobl Tax Cumu!aWCFv4ilable for Capture
$
25,<31
$ 95,780 $
343 �35
5
778AA9
$
3,23b,994
5
3.559,6E9 5
2,306,Sifi
$
2,55],SBtl 5 2,557,580
Abatement eenefit
$
-
S 42,240 $
285,600
$
501,826
$
SCEA44
$
SII,91S 5
517.0?2
$
=,202
$ ZeBB,25/
fFODInC -
`Estimated taxable values only, actual taxablevolue to be entertained by Cttytssexsar
T.Ne3
Tax incmment Revenue
Reireb.mement
Afl=don Table
Saws
Novi
Novi, Michigan
Maximum%MbursemerK
-PrppaipaOafiMl
6ttimated Caoture
AdminizazGve
fees
5
25,000
Loal
7],8R
State Erownfleld Redevelopment Funtl
$
149,083
TOTAL
Local 8rovmfleld Revolving Fund -
5
740,000
_ EGLE
-
SCO.O°h
0-toper RelmbumemeM
$
850,000
ASF
0.0°6
TOTAL
$
1,174,083
4
4
Teal Stale lnaemental Revenue
$
2C22 t
13,39E $
2023 {
48,210 $
2024 {
246,176 $
W2.5
422,415 5
2026
426,5C6
TOTAL {
State?rovmP¢�tl Revolving f4'd l565i c`5E1?
$
S,T2§ $
6,216 <
31,726 $
51,485 $
S
54,966 $
1,156,801
149,083
StaMTIRAvailablefor Pelmbucement
5
I1,66] 5
42,034 $
214,451 $
36,977 $
37IZ40 S
1,007,71$
ctel local lnaemental Revenue
5
32,03§ 5
12,039 $
12,089 5
12,039 S
1-.,089 $
60,133
6Ph Adminsvative l'.e
$
5,4;p 3
5,000 j
5,000 S
5,600 S
5,000 S
25,000
local MAveUabie for Reimbursement
$
7,030 $
7,039 $
71039 $
7,039 $
7,OS9 $
35,193
Lb®1'T1B.Aiailabk for Rervnbursement
32g ,S/g
DEVELOPER
Balance
'DEVEIDPEFFdmbu+:ementeploncc ., .' { $1
$50,000 $
8M 295 { $.
782,17E ( $,
S60S83 { 5
MSF Non-Envir¢nmemal Colts
_
_
_
1
State Tax Reimbursement
$
5
- 15
15
• is
Local Tax Reimbutiement
$
-
Is
- Is
- 1 $
is
S
t
Total MSFAelmbursomenI Baknre
$
_ 15
- i 5
- I S
- i 5
"' S
J
E6tE EnWranmenWl rnm
S
85D000
5
1F. 708I5
49.123 $
M,egs
5,
375.016IS
378.S79(
State Tax Reimbursement$
11,6671$
42,0341S
214,451
$
367,977 S
185,668IS
8ZL846
tomlTax Relmburseneent
5
7,03§ I $
7ARS f S
7,039
IS
7,039 S
- S
28,1541
Total MDEDReimburnement Ealance
)
5
$31,29S I5
78Z172I $
SM5831
S
185,5681 S
-' 5
85D,D09,
LOtal Only Casts { 5
-
S
S
- $
• I S
• I
S
Local Tax fteimbursemertt 1
TOMI Loral Only Reinebunnement S.1an.
$
.I$
-I$
-I$
TotaF CuAdtlatNe beve4rperkemibtiis¢meet+,``'µ
,~Y'-,p 5
18,7051$
67,82E IS
22"e71$
664,332 $
850,000
s
050,0001
LOCAL BROWNFIELD REVOLVING FUN
State Taxca=re I5
-Is
-{$
.�$
.�$
•1$
143,000
$-
Local TaxC=,a S
TOW LBRR Capture
-IS
I
.IS
-
-I5
-I5
-1$
ZOW
I
.1
5
150,000I $
ISO,p00s
Goo2=caret;
• ProporGOnaON indudes issuance of ipcal Commercial Fati7itios Exemption CettirFcate
June2017