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MEDC Funds Technical Assistance for Redevelopment Ready Community Process
MEDC FUNDS TECHNICAL ASSISTANCE FOR TRAVERSE CITY TO ASSIST REDEVELOPMENT READY COMMUNITY (RRC) PROCESS
Traverse City - The Michigan Economic Development Corporation (MEDC) has funded a Technical Assistance grant on behalf of the City of Traverse City to assist RRC efforts and to explore housing and economic opportunities downtown. Properties within the City have underutilized upper floors which could become unique residential or retail opportunities. MEDC and the City have contracted for the professional services with Revitalize, LLC.
Bruce Johnston, Principal of Revitalize, will provide three phases of work consisting of developing policy and procedures, meet and develop projects with individual property owners, and prepare the City and property owners for potential grant applications to the MEDC and other potential funding sources.
Martin Colburn, City Manager, applied to the state to help create additional use of properties that are underutilized. With property owners investing into their properties, the community adds much needed housing units, adds more density, and updates buildings to code, making them safer. These investments can help assist property owners with strengthening their business as well as add to the tax base.
The City of Traverse City is being recognized as a Redevelopment Ready Community by the MEDC at the May 7th City Commission meeting. The City has qualified for this designation by reviewing and implementing processes to assist with development. The State of Michigan has initiated this program statewide in an attempt to have communities best prepared and consistent to work with development.
Mr. Johnston will be conducting a program introduction meeting Tuesday, May 8th to interested property owners in the City Commission chambers on the second floor of the Governmental building located at 400 Boardman Avenue from 10:00am till noon.