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MegadealsSubsidy Tracker Individual Entry
Company: Veridea Group
Parent Company:
Subsidy Source: state
Location: Michigan
City: Marquette
Address: 857 West Washington Marquette
Zip: 49855
Project Description: State TIF: State and local tax capture valued at $14.2 million will help redevelop the former Sara Lee Bakery site at 857 West Washington in Marquette into approximately 150,000 sq. ft. of mixed-use commercial, office and residential buildings. The project includes demolition, lead and asbestos abatement, site preparation, and infrastructure improvements to support the project. It is expected to generate $31 million in new investment overall. CRP: MCRP loan participation totaling $1,857,151 was approved for Veridea Group, LLC with $357,151 of the balance to be forgiven at project completion. Veridea will construct Phase I of the development to include new construction of a commercial building and parking garage. The project is expected to create 18 full-time jobs, with total capital investment for Phase I of $9.7 million. CRP: MCRP loan participation totaling $1,857,151 was approved for Veridea Group, LLC with $357,151 of the balance to be forgiven at project completion. Veridea will construct Phase I of the development to include new construction of a commercial building and parking garage. The project is expected to create 18 full-time jobs, with total capital investment for Phase I of $9.7 million.
Year: 2015
Subsidy Value: $6,778,485
Program Name: Brownfield TIF Local Mills
Awarding Agency: Michigan Economic Development Corporation
Type of Subsidy: tax increment financing
Number of Jobs or Training Slots: 100
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.