City Commission to vote on special assessment, Parcel B development at July 8 meeting
Parcel B, special assessment and marijuana are on the agenda for the July 8 City Commission meeting.
During its meeting at 7 p.m. Monday, July 8 at City Hall, Mount Pleasant City Commission will hold a public hearing regarding the special assessment in the principal shopping district, and will vote to amend a purchase and development agreement for 410 W. Broadway St.
Following the public hearing, commissioners will vote to finalize the special assessment for the 2020-21 fiscal year. The special assessment pays for services that are focused on Downtown Mount Pleasant like snow removal in parking lots, hanging baskets and grounds care. The principal shopping district comprises 230 properties, with 156 that are special assessed.
The commission will also discuss the purchase and development agreement for 410 W. Broadway St., also known as Parcel B.
The parcel of land next to city hall, which has sat vacant for two decades, is closer than it ever has been to development. Michigan Community Capital, a nonprofit organization that develops buildings in communities across the state, is set to begin development within the next year.
During a work session June 24, commissioners were updated by representatives from Michigan Community Capital. MCC plans to build a 4-story mixed-use building with two retail spaces on the first floor and 47 apartments on the upper floors. GreenTree Co-Op plans to move into one of the retail spaces. The one-bedroom, two-bedroom and studio apartments will target young professionals, young families and older professionals.
The commission will vote to amend the purchase price for the parcel of land. The purchase price in the original agreement was $360,000, and the amended price will be $65,000. MCC relied on tax abatements to develop the property, but discovered that the abatements would not reduce taxes as much as they planned. With the amended purchase price, the city will receive an estimated $401,000 in taxes over 15 years, plus $65,000 for the land purchase, as opposed to a flat $360,000.
Following the meeting will be a work session with discussion about recreational marijuana laws and city goals for 2020.