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PlazaCorp Wins $700K Brownfield TIF Deal for 619 Porter Project

City of Kalamazoo logoCity of Kalamazoo
Disclosed value
$700,000
From agenda
Approved
Nov 20, 2025
Renews
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The 30-second brief

What it covers

The Northside Cultural Business District Authority approved a $700,000 Voluntary Community Benefits Agreement with PlazaCorp in exchange for a 100% TIF pass-through for the 619 Porter redevelopment project. Payment will be made upon construction loan closing but no later than August 2027. Agreement ensures community benefits and stipulates conditions for potential tax appeals.

Who holds it

PLAZACORP holds this contract with City of Kalamazoo.

What happens next

The renewal date is on record. A free account shows it, with the renewals for every City of Kalamazoo contract.

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Contract details

Amount
$700,000
Document date
November 20, 2025
Term
Payable at developer construction loan closing, but no later than August 2027; covers a 25-year capture period beginning in 2027, ending in 2051
Renews
Free account
Vendor
PLAZACORP
Agency
City of Kalamazoo
Source document
Northside Cultural Business District Authority Board Agenda November 20, 2025 (Agenda)

PLAZACORP's other public contracts

City of Kalamazoo, MichiganPlazaCorp Reimbursement Agreement Approved By BRA · Sep 17, 2026UndisclosedCity of Kalamazoo, MichiganPlazaCorp Receives Tax Incentive for Porter Development · Oct 6, 2025UndisclosedCity of Kalamazoo, MichiganPlazaCorp: $18.34M Speareflex site residential renovation · Sep 30, 2025$18.3MCity of Kalamazoo, MichiganPlazaCorp invests $55.79M in Kalamazoo Courthouse hotel · Sep 30, 2025$55.8MCity of Kalamazoo, MichiganPlazaCorp invests $22.38M in mixed-use development · Sep 30, 2025$22.4MAll PLAZACORP contractsVendor profile

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Questions about this contract

Who was awarded the government contract by City of Kalamazoo?

PLAZACORP was awarded this government contract by City of Kalamazoo, as recorded on November 20, 2025. The contract value is $700,000.

How much is the PLAZACORP contract with City of Kalamazoo worth?

The PLAZACORP contract with City of Kalamazoo is valued at $700,000.

What type of contract is this?

This is a government contract, documented as a agenda record.

Where was this contract approved?

This contract appears in Northside Cultural Business District Authority Board Agenda November 20, 2025 (Agenda), dated November 20, 2025 from City of Kalamazoo. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does PLAZACORP hold?

PLAZACORP may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is City of Kalamazoo currently buying?

Explore City of Kalamazoo's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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