Blackinton Mill LLC Secures $17M TIF Agreement
North Adams villageCity · MI- Disclosed value
- $17,000,000
- From agenda
- Document date
- Sep 12, 2023
- Term
- 10 years
The 30-second brief
City Council approves Tax Increment Financing (TIF) Agreement with Tourists for the Blackinton Mill Redevelopment Project, authorizing the mayor to execute the agreement. The project involves a $17 million investment to transform the former Blackinton Mill into a 50-room luxury hotel, creating 25 full-time equivalent jobs. The TIF agreement includes a scaled tax exemption over 10 years, with the city continuing to receive taxes on the existing $447,000 property value.
Blackinton Mill holds this tax increment financing contract with North Adams village. Its other public contracts on record include work for City of North Adams.
Term as filed: 10 years.
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Contract details
- Contract type
- Tax Increment Financing
- Amount
- $17,000,000
- Document date
- September 12, 2023
- Term
- 10 years
- Vendor
- Blackinton Mill
- Agency
- North Adams village
- Source document
- north-adams-city-council-meeting-agenda-september-12-2023_469.pdf (Agenda)
Blackinton Mill's other public contracts
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Questions about this contract
Who was awarded the tax increment financing contract by North Adams village?
Blackinton Mill was awarded this tax increment financing contract by North Adams village, as recorded on September 12, 2023. The contract value is $17,000,000.
How much is the Blackinton Mill contract with North Adams village worth?
The Blackinton Mill contract with North Adams village is valued at $17,000,000, covering tax increment financing work.
What type of contract is this?
This is a Tax Increment Financing contract, documented as a agenda record.
Where was this contract approved?
This contract appears in north-adams-city-council-meeting-agenda-september-12-2023_469.pdf (Agenda), dated September 12, 2023 from North Adams village. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Blackinton Mill hold?
Blackinton Mill 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 North Adams village currently buying?
Explore North Adams village's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.