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MegadealsSubsidy Tracker Individual Entry
Company: Grand Rapids Downtown Market Holdings LLC
Parent Company:
Subsidy Source: state
Location: Michigan
City: Grand Rapids
Address: 435 Ionia Ave. SW & 109 Logan St. NW Grand Rapids
Zip: 49503
Project Description: CRP: Grand Rapids Downtown Market Holdings was awarded a $3 million loan participation to construct a year round market on multiple parcels in the City of Grand Rapids. The project is expected to create 295 jobs and includes total capital investment of approximately $30 million. MBT Credit: Grand Rapids Urban Market Holdings, LLC plans to invest $30 million to demolish a series of vacant warehouse buildings at 435 Ionia Avenue SW and 109 Logan Street SW, Grand Rapids, and construct a new urban market. A Large Brownfield Michigan Business Tax credit of $5.2 million encouraged this private investment. MBT Credit: Grand Rapids Urban Market Holdings, LLC plans to invest $30 million to demolish a series of vacant warehouse buildings at 435 Ionia Avenue SW and 109 Logan Street SW, Grand Rapids, and construct a new urban market. A Large Brownfield Michigan Business Tax credit of $5.2 million encouraged this private investment. TIF - State and local tax capture valued at $4,720,882 will help redevelop the currently vacant property in the Heartside district into a four season farmers market and mixed use development. TIF - State and local tax capture valued at $4,720,882 will help redevelop the currently vacant property in the Heartside district into a four season farmers market and mixed use development.
Year: 2013
Subsidy Value: $2,488,391
Program Name: Brownfield TIF Local Mills
Awarding Agency: Michigan Economic Development Corporation
Type of Subsidy: tax increment financing
Number of Jobs or Training Slots: 295
Source of Data:
(click here)
Notes: Year is fiscal year. Jobs is sum of new and retained positions.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.