Gov. Snyder will keep Historic Rehab Credits - DETNEWS

[esp1986]

http://detnews.com/article/20110419/...an-development

[Gsgeorge]

Snyder might have a brain after all?

[Novine]

Nowhere in the story do Snyder's people confirm they'll keep the credits. Instead, it states that the credits will be subject to the appropriation process overseen by Lansing Republicans. This is the same group that's cutting off money for transit. They're going to let state tax dollars go for historic preservation?

[cman710]

We will see what happens, but I do not think we would see George Jackson out there making statements like that if he did not get some kind of support from the governor's administration. I am glad they are planning to keep the credits.

[swingline]

Glad to hear that these high level meetings have occurred. Skipper's Rule is in effect though. Lots can still happen. There was nothing wrong with the historic rehab and brownfield rehab credit programs before Gov. Snyder got elected. They "paid their own way." These two tax credit programs should just be left alone.

[Parkguy]

Everyone should write the Governor and their legislators. I did. I hope it does some good.

[Novine]

Based on what the state legislature has done so far, I don't put much faith in Snyder's ability to make things like this happen. He doesn't get to write the laws and unless there's some champion in the Republican ranks for HP credits, they'll never see the light of day.

[Novine]

According to the MML, no tax credits and a tiny amount of funding for all programs that used to be funded by MEGA, brownfields and historic preservation credits. Unless the Senate forces that back into the budget, it looks like the claims that the tax credits would be saved were premature.

http://www.mml.org/advocacy/inside20...ic-Update.aspx

[Richard]

The new Business Incubation and Economic Gardening Fund only has $25 million to make up for the old MEGA, Brownfield and Historic tax credits.

Economic Gardening Fund ?? Thats Detroit's future vision a 100 acer garden?

The positive side is it just knocked 40% off of any fixer upper commercial property,on the negative side devalued the city as a whole.

[Novine]

Any project by the automakers or a similarly sized project would likely take up most of that money in one shot.

[Richard]

Well now I know where the gardening incentives come in.

http://www.freep.com/article/2011042...yssey=obinsite

[[it would start with small farms of 20-30 acres with year-round growing, which would be catalysts to promote neighborhood development. Each farm could employ 10-12 people in $10- to $12-per-hour jobs with benefits.)

My uncle has a 180 acer farm that he converted from beef to vegetables , it is handled year round with 3 family members as employees ,no way you can support 10-12 full time employees in the $10 $12 range plus benefits.But with the incentives I guess it is subsidized profit would not be an issue.

I must admit I am becoming completely baffled as to why the city and state is doing everything in their power to discourage outside investment when it comes to job creation and the rebuilding of derelict properties for reuse.

I guess at this point it does not matter anymore what is done is done.