OtherConditions requiredCity of Petoskey, Emmet County, Michigan

Lofts at Lumber Square

Emmet County

Description

The board signed off on an amended development and reimbursement agreement aligning the repayment schedule with the Brownfield Plan; closeout continues with reimbursements expected in early 2027.

Impact summary

Sets the repayment path for the city and developer under tax increment financing as the project winds down.

Applicant

Name: Lumber Square Nonprofit Housing Corporation
Address: City of Petoskey, Emmet County, Michigan

At a glance

Hearings: 1
Public comments: 0
Total mentions: 1

Recorded in the meeting · Brownfield Redevelopment Authority

Discussed

Last discussed Mar 10, 2026.

Meeting timeline (1)

Mar 10, 2026

Brownfield Redevelopment Authority - Mar 10, 2026

The board signed off on an amended development and reimbursement agreement aligning the repayment schedule with the Brownfield Plan; closeout continues with reimbursements expected in early 2027.

Related issues (1)

Lofts at Lumber Square brownfield closeout

New rule ties the TIF capture period to how long units must stay affordable, and requires reimbursable costs to be proportionally scaled to the share of income-qualified units.

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