[CPEO-BIF] Benton Hotel, Benton Harbor, Michigan

[Lenny Siegel <lsiegel@cpeo.org>]

News Release
Michigan Economic Development Corporation


Granholm Announces New Life for Former Benton Hotel
New Housing, Commercial Development Planned for Benton Harbor
March 30, 2006

Governor Jennifer M. Granholm today announced that the former Benton 
Hotel in downtown Benton Harbor  will be transformed into a mixed-use 
development as the result of a brownfield Single Business Tax credit 
approved by the Michigan Economic Development Corporation. The project 
is expected to involve more than $400,000 in private investment and 
create 15 new full and part-time jobs.

"This redevelopment project is great news for Benton Harbor," Granholm 
said. "It will attract new jobs, businesses and people back to the city 
and serve as a catalyst for future investments and opportunities for the 
community."

The developer, Victoria Ventures LLC, will use the brownfield credit 
valued at $40,013 to convert the three-story building located at 124 
Water Street into a mixed-use facility that will feature 2,150 square 
feet of commercial space on the ground floor and four apartments on the 
upper levels. The city will support the project through local tax 
capture valued at $89,860 approved by the Benton Harbor Brownfield 
Redevelopment Authority and a federal Community Development Block Grant 
valued at $15,000.

...

For the entire press release, see
http://www.michigan.org/medc/news/combo.asp?ContentId=26A18994-8460-4979-9805-15EB6AF05D06
--


Lenny Siegel
Director, Center for Public Environmental Oversight
c/o PSC, 278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org


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