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MegadealsSubsidy Tracker Individual Entry
Company: Lormax Stern Development Company
Parent Company:
Subsidy Source: state
Location: Michigan
City: Roseville
Address: 32233 Gratiot Avenue Roseville
Zip: 48066
Project Description: MSF and the Macomb Brownfield Redevelopment Authority are supporting local and school tax capture in the amount of $1,592,970 for the demolition of the former Crowley???s Dept. Store in the City of Roseville. The City of Roseville and Macomb County have deemed this a top priority for the region. The project will generate approximately $8.4 million in total capital investment and create 295 permanent full-time equivalent jobs. The City is also considering a 10-year Commercial Rehabilitation Act property tax abatement which will provide an overall savings of approximately $800,000.
Year: 2014
Subsidy Value: $666,180
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.