An article in Saturday's Free Press discusses some specific consequences of eliminating Michigan's tax credits for the redevelopment of brownfield sites and historic properties.
Gov. Snyder hopes to get rid of these tax credits (along with others), which have helped to finance the redevelopment of abandoned structures, to "create a more level playing field" for business in Michigan. Snyder is always saying that the future of Michigan is strongly tied to the future of Detroit, but he seems to ignore the fact that older cities like Detroit are at an automatic disadvantage when it comes to economic development. For most of these projects to work, an extra investment is needed.
The article lists five major projects which will almost certainly be scrapped if these tax credits are eliminated:
1. Shopping center at Old Redford High School
2. Retail/residential project at Uniroyal industrial site on Jefferson, next to the Belle Isle bridge
3. David Whitney Building
4. Gateway retail center at Woodward and 8 Mile
5. Several properties near Capitol Park
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