Applications for Renaissance Zone designation are available from the planning division of the planning and development department, 65 Cadillac Square, Suite 1300. Deadline for submitting the completed application is July 13.
The completed application will be reviewed and evaluated and form the basis for the subsequent application by the city to the Michigan Economic Development Corp., governed by the state.
The Renaissance Zone program was established by state law in 1996 to address economically distressed areas and facilitate their recovery. The program provides businesses and residents in the zone with exemption from state and local income, business, property and utility taxes.
Successful applicants will be required to enter into a development agreement with the city to ensure the implementation of the proposed job creation and/or investment and provide a guarantee of performance acceptable to the city. The city will determine the number of years each new or expanded area will be designated as a zone on a case by case basis and in compliance with state law.
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