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Bills Would Give Downtowns Financial Boosts

LANSING, MI-A package of bills introduced in the state Senate seeks to spur office and other growth in Michigan downtowns with historical neighborhood tax increment finance authorities and other incentives.

By Dan Heaton | Updated on May 14, 2004

LANSING, MI-The state is considering new ways to aid Michigan downtowns. Bills introduced this week in the state Senate would allow communities to set up historical neighborhood tax increment finance authorities, which would establish a mechanism to fight deterioration and promote growth in downtown areas, bill supporters say.

Other bills in the package would provide for tax incentives to create housing — such as lofts — and office space available in a downtown district.

The bills — as many as 25 might eventually be in the package — are being pushed by House Republicans, who are calling them “CORE,” or Creating Opportunities for Renewed Economies.

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