In 2010, Lormax Stern agreed to purchase a 25-acre former school property, vacant for the past five years, from the city of Detroit. They sought incentives as a way to encourage new development on the city’s west side.
The Meijer grocery store chain purchased the site in 2012 with plans to raze the school. They built a grocery store in this urban setting in 2015. The project was estimated at $33 million and has created hundreds of jobs.
Despite myriad players in this project—the state, city, county and others—Warner secured a $3.3 million Brownfield Michigan Business Tax (MBT) credit and $6.5 million in Brownfield Tax Increment Financing (TIF) incentives in a relatively short period of time. We credit our relationship with Detroit officials, state officials and the Michigan Economic Development Corp. (MEDC) for our success.
