FINANCIAL_SERVICESPENDING

City of Ionia Board of Directors Meeting Agenda April 2026

Ionia considers $14.5M TIF plan for Austin Pines West

$14,516,262 TIF reimbursement (eligible activities, interest, contingency, plan prep and implementation)City of IoniaALLEN EDWIN HOMESApril 14, 2026

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Description

The City of Ionia Brownfield Redevelopment Authority is considering an Act 381 Brownfield Plan with Allen Edwin Homes for the Austin Pines West project, providing up to $14.5 million in TIF-funded reimbursement for eligible infrastructure, site preparation, and housing gap costs over roughly 22 years. The plan would support construction of 96 new housing units, including income-restricted homes, with capture potentially running from 2027 through 2050.

Contract Details

Contract Amount

$14,516,262 TIF reimbursement (eligible activities, interest, contingency, plan prep and implementation)

Vendor

ALLEN EDWIN HOMES

Agency

City of Ionia, MI

Contract Type

FINANCIAL_SERVICES

Document Date

April 14, 2026

Contract Term

TIF capture period of 22 years to developer plus 2 additional years to Local Brownfield Revolving Fund (capture expected 2027–2050, not to exceed 30 years)

Renewal Date

2050-12-31

Renewal Info

Brownfield TIF capture under Act 381 may be delayed up to five years after plan approval but may not exceed 30 total years; after developer and State Brownfield Fund reimbursement, additional capture flows to the Local Brownfield Revolving Fund for two years.