Grand Haven, MI (WGHN) – A decision on financial incentives for a downtown Grand Haven redevelopment project has been delayed. City council was considering nearly 1-point-1 million dollars in incentives to help renovate the former Floto’s Gifts building at 123 Washington Avenue.
Developers want to turn the vacant building into a restaurant on the ground floor with three residential units above. The plan includes a 250-thousand dollar grant from the Michigan Economic Development Corporation, along with brownfield tax increment financing and a property tax abatement.
Some council members said the building clearly needs investment, but they raised concerns about the length of the tax incentives and the fact they would cover more than half of the nearly two-million-dollar project cost.
Councilwoman Erin Lyon:
With the proposal unlikely to pass, the developer’s attorney asked the council to postpone the vote to revise the request.
Council members agreed unanimously, meaning the plan will likely return later with changes.
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