Title
Resolution to Approve the Amended 303 North Fifth and 312-314 Detroit Redevelopment Brownfield Plan
Memorandum
The proposed resolution would approve the first amendment to the 303 North Fifth and 312-314 Detroit Redevelopment Brownfield Plan. This Brownfield Plan was originally approved on July 5, 2022. The proposed amendment seeks additional reimbursement costs for unexpected site conditions, which increased the cost of environmental remediation activities. Subsurface conditions on the site did not enable the original plan of driving pilings to retain the perimeter of the site, which necessitate increased labor and equipment costs than the originally proposed approach. No new activities are being proposed as part of the amendment.
The amendment would increase the amount of developer-eligible costs by $624,984 (an increase from $2.67 to $3.29 million), and would have corresponding incremental increases to the contingency reimbursement item, Washtenaw County Local Brownfield Revolving Loan Fund, and State of Michigan Revolving Loan Fund, with captured funds. The net impact is an estimated 10-year capture period to project completion, extended from the original 9-year projection. The Plan retains a maximum capture period of 12 years.
The proposed development includes:
? Construction of new five-story building, containing 14 residential homes and 1,850 square feet of retail or office space.
? 15 vehicular parking spaces
? LEED Gold energy efficiency certification
As noted in the attached report, staff is supportive of the proposed amendment.
Staff
Prepared by: Brett Lenart, Planning Manager
Reviewed by: Derek Delacourt, Community Services Area Administrator
Marti Praschan, Chief Financial Officer
Approved by: Milton Dohoney Jr., City Administrator
Body
Whereas, MAV Development has requested approval of the Amended 303 North Fifth and 312-314 Detroit Redevelopment Brownfield Plan in order to pursue tax increment financing through the Washtenaw...
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