FLINT, Mich. (WJRT) – Brownfield redevelopment plan in Flint gets green light from Flint City Council.
The developer of the plan known as James P. Cole Venture LLC and what he proposes is to renovate over 110,000 square feet of industrial space on the site and build a new facility on an additional 190,000 square feet.
After months of delay, James P Cole Venture LLC was granted permission to redevelop a brownfield site for an industrial park on James P. Cole in Flint.
The city’s economic development director said the project creates jobs and income for the city.
âIf you look at the map, there is the whole site and they are doing a project at the south end of the site. This property can raise taxes and raise taxes means we have more availability to pay for city services. But certainly this type of investment will translate into new jobs in the city, âStephens said.
The total cost of the plan is $ 14.25 million. The company will also receive $ 2.5 million in eligible reimbursable expenses under what is known as brownfield tax increase funding. In order to receive the money, the business must make the promised investment.
Stephens said development is expected to begin at the start of the construction season in 2022. And unless delayed, it is expected to be completed by the end of fall next year.