[Note: at 15:00 in the talk, the microphone fell off the speaker and a minute of audio was lost; below is a transcription of what he said during that minute]:
The next phase is cleanup. You typically don’t go through the investigation and cleanup phase until you’ve got a developer on board; you’re going to be spending a lot of money on that. You don’t always have to, especially at the investigation stage, but definitely at the cleanup stage, you’re going to want to have a project – and you’re going to want to have that developer to have closed on that property before you that, because it’s expensive. And then the final phase is redevelopment; that’s the actual economic development. That’s: here’s what we’re building, here’s what the business is going to be, job creation, tax revenue, etc. And in every stage of this workflow, there are financial incentives available. What’re going to be focusing on mostly are the four in there in the middle: Redevelopment comes from, well, I’ll tell you about that next — let’s go to the next slide. [Fallen mic was discovered and re-placed on speaker.]
During this session, Mark VanDoren explores the basics of brownfields redevelopment and share success stories from around the state. He’ll also discusses the various financing mechanisms and incentive programs, and some of the myriad intricacies of the brownfields transformation process.
In addition, Mark discusses the formation of a new regional brownfields coalition: the EUP Brownfields Coalition. Also on hand will be Rebecca Bolen of the Eastern Upper Peninsula Regional Planning & Development Commission to discuss a current brownfields grant opportunity for our community.