The funds will support development of the I-94 Industrial Park, a 150-acre parcel in a Renaissance Zone located in the east central sector of the city. It also will help the city implement its strategic title clearance program for the 43,000 properties (the majority, deeded by the state) in the city's inventory.
The I-94 Industrial Park project is expected to bring six light industrial and manufacturing firms to the city, along with added jobs and eventual tax revenues. The title clearance program will eliminate extensive delays and ownership risk associated with doing development in the city.
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