Grand Haven, MI (WGHN) – The Grand Haven City Council voted down a Brownfield tax increment financing request Monday for the proposed Flatiron Building redevelopment at 7 N. Seventh St.
Capstone Companies requested $687,182 in Brownfield reimbursement over 15 years to help redevelop the blighted property as part of a $3.6 million private investment.
The proposal failed on a 2-2 vote. Council members Mike Dora and Mayor Bob Monetza voted in favor, while Erin Lyon and Mike Fritz voted against it. Council member Sarah Kallio recused herself because of her business relationship with the developer.
The project includes a three-story mixed-use building with five condominium units, first-floor commercial space and structured parking. The condos were expected to sell for between $699,000 and $749,000.
Supporters viewed the project as an opportunity to jump-start redevelopment in the Centertown district. Opponents said the proposal did not provide enough public benefit to justify the use of Brownfield tax incentives.
Capstone Companies said it plans to revise the proposal by adding public benefits and return to the City Council for future consideration
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