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MegadealsSubsidy Tracker Individual Entry
Company: M1 Concourse, LLC
Parent Company:
Subsidy Source: state
Location: Michigan
City: Pontiac
Address: 45477 Woodward Avenue Pontiac
Zip: 48341
Project Description: M1 Concourse LLC is redeveloping and reusing the vacant GM Pontiac Validation Center in Downtown Pontiac. The project will include a 264 car condominium and demonstration track that will provide security, maintenance, and accessibility options for car owners in the Metro Detroit area. The state-of-the-art demonstration track will be used for defensive driving classes, vehicle testing, private course driving, and/or performance driving schools. The project includes various car-themed retail tenants, a destination restaurant operated by a well-known local restaurateur and a large events center that will be used for car shows, media events, and vehicle auctions. Additionally, the development will provide a large-scale public exhibition space that can be utilized for concerts, car shows, drive-in movies, auctions and other open air events. State and local taxes in the amount of $7,963,274 has been award to offset the brownfield costs necessary to redeveloping the site.
Year: 2015
Subsidy Value: $4,230,091
Program Name: Brownfield TIF Local Mills
Awarding Agency: Michigan Economic Development Corporation
Type of Subsidy: tax increment financing
Number of Jobs or Training Slots: 95
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.