I saw mention of TIF an article about Delta Crossings but I didn't know it was for the entire Saginaw corridor, let alone as a sort of a one way deal with the developments benefitting the corridor. That could really lead to some good things because, although it has improved in recent years, Saginaw between Waverly and the Lansing Mall doesn't look the greatest.
So, is Delta Crossings the one south of the freeway and Brookside the new one on the north or is Brookside something that hasn't started yet?
Delta Crossings is the new one on the north side of Saginaw just west of the freeway; Brookside is the land along Carrier Creek on the south side of Saginaw across from Carrabba's. But, the more I think of this, the more I wonder if they aren't using Delta Crossings to help get Brookside started up? I'm not even 100% sure on how a TIF works in relation to the corridor improvement authority.
The TIF plan seems to identify three areas including the two properties mentioned and then the Lansing Mall. All projects would be funded by the property owners for Delta Crossings and the Lansing Mall areas, and the CIA could be involved with the actual development of Brookside Crossings, though it sounds like only if it involves any public infrastructure, so probably site prep, roads, etc. If Brookside develops on its own, the CIA would use the TIF revenue to reimburse any of these owners for projects they undertake, if I'm understanding this correctly. It also appears that Lansing Mall (redevelopment) and Delt Crossings are prioritized over any help to Brookside, which makes sense.
Ah, I didn't know the Brookside property had a name to go with it yet, that one has been a long time coming. It looks like there's a lot to this plan and I'm not too sure exactly what to expect out of it beyond helping to pay for roads and utilities at these new developments but I'm happy to see even more positive news for the west side. Like I said though, I really do hope at some point they use some of that funding to make some proactive improvements between Waverly and the Lansing Mall.
Yeah, it's all quite confusing; like, I have no idea what a "20% pass-through" is, for one. I see the Lansing Mall gets $3 million for something, but I'm not sure what. But, yeah, it sounds like Saginaw eventually gets better streetscapes in parts.
Yeah, I didn't even really try to digest that document, 200+ pages of legalese leaves a lot of room to misinterpret or miss something anyway. From the executive summary and some of what I glossed over it seems positive, besides any general arguments over tax incentives or TIF-like arrangements.
Ah, got in contact with someone in the twp, and this makes more sense. The TIF is actually structured so that the TIF district doesn't get ALL revenue on the tax value increase. A TIF is usually structured where they get 100% of the taxable value increase; with this one, 20% would 'pass through' back to the tax jurisidctions. So the TIF gets 80% of the increase in value and the township/county/schools get 20% of that 'back.'
I'm feeling more comfortable about this knowing that it's not a total giveaway.
There's an LSJ piece on the start of construction of the new battery plant. Work is planned to move quickly with foundation work beginning next month, steel rising in August and completion in mid to late 2024. I drove by a couple days ago and there is an army of earth moving equipment and site work is well underway, there's some more significant earthwork taking place just down Nixon Rd that may just be related to a drain project. It's going to be fun watching this area transform, I'm hopeful we'll see another flurry of suppliers make their way to the area in the coming years as well.
Anyone know what's been going on at the Farm Bureau Insurance headquarters on West Saginaw which is basically across the street from Horrock's? I was over that way last week and saw they had some kind of fencing around the perimeter of the site, and since it's such a large property, it's very noticeable. It looks like your typical snow or dust fence.
I went out to Grand Ledge to give my X-mas tree to the goats out there, while driving down W Mt Hope Hwy there was a large landscaping project underway across from the Meijer's warehouse, with huge new buildings behind the hills. Is that the GM battery plant? The park they were creating looked very nice.
An Amazon distribution center is going up across from Meijer's distribution center. I think they actually had to halt construction - or was it delayed? - for awhile.
Comments
So, is Delta Crossings the one south of the freeway and Brookside the new one on the north or is Brookside something that hasn't started yet?
The TIF plan seems to identify three areas including the two properties mentioned and then the Lansing Mall. All projects would be funded by the property owners for Delta Crossings and the Lansing Mall areas, and the CIA could be involved with the actual development of Brookside Crossings, though it sounds like only if it involves any public infrastructure, so probably site prep, roads, etc. If Brookside develops on its own, the CIA would use the TIF revenue to reimburse any of these owners for projects they undertake, if I'm understanding this correctly. It also appears that Lansing Mall (redevelopment) and Delt Crossings are prioritized over any help to Brookside, which makes sense.
https://www.deltami.gov/Document_Center/Government/CIA/2021 11 23 Delta Twp CIA Development-TIF Plan with Appendices.pdf
I'm feeling more comfortable about this knowing that it's not a total giveaway.
(For LSJ subscribers): https://www.lansingstatejournal.com/story/news/2022/06/17/ultium-cells-gm-lg-partnership-billion-dollar-plant-work-started/7558004001/