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Saginaw, Petoskey Get Brownfield Projects

SAGINAW, MI-A Saginaw machining company plans to build a $6.6-million facility in Saginaw's renaissance tax zone while 16 condominiums will be built on a former contaminated site in Petoskey.

By Dan Heaton | Updated on June 25, 2004

SAGINAW, MI-Brownfield funding is clearing the way for more industrial property in Saginaw and for a condominium project in Petoskey. Michigan Production Machining says it will use a $663,371 brownfield tax credit to clean up contaminated property located at 1400 Norman St. in Saginaw, making the site suitable for construction of a 35,000-sf manufacturing facility.

Because the 5.3-acre property, formerly owned by CSX rail, is located within the Saginaw Northeast Renaissance Zone, the business will operate free of state and local taxes. MPM, a manufacturer of machine power train parts, is expected to invest $6.6 million in the new facility.

Meanwhile, Petoskey Pointe Associates, LLC will use a $330,700 credit to help redevelop contaminated property located at 200 W. Lake St. in Petoskey in northwest lower Michigan. The developer plans to demolish the existing building to make way for a 27,520-sf building to house 16 condominium units. The city of Petoskey is capturing $392,942 in local taxes to help prepare the property for redevelopment.

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