ACE INVESTMENT PROPERTIES LLC Government Contracts in Michigan

The City of Albion Brownfield Redevelopment Authority proposes Amendment #1 to its 213-221 S. Superior Brownfield Plan to support ACE Investment Properties, LLC in redeveloping 215-217 S. Superior Street. The Developer will invest an estimated $1.7 million in mixed-use rehabilitation and be reimbursed up to $519,421 for eligible environmental, demolition, and infrastructure activities over a 28-year TIF capture period. The plan also reimburses the Authority $45,075 and allocates additional tax increment to state and local brownfield revolving funds.

The City of Albion Brownfield Redevelopment Authority’s Amendment #1 for 215-217 S. Superior Street would reimburse ACE Investment Properties LLC $519,421 in eligible Brownfield costs using tax increment revenues. The 35-year plan, with 28 years of capture starting in 2027, supports upper-floor housing redevelopment and related environmental and infrastructure work.

The proposed Amendment No. 1 to the Brownfield Plan for 105 W. Porter Street and 300 S. Superior Street would reimburse ACE Investment Properties LLC $506,891 in Brownfield-eligible costs through tax increment revenues. The plan covers environmental remediation, demolition, site preparation, infrastructure, and planning over a 35-year period with 28 years of tax capture.

The Albion Economic Development Corporation approved a $14,837.73 brownfield reimbursement payment to ACE Investment Properties LLC for the completed Brick St. Lofts project. Payment will be made in accordance with the existing reimbursement agreement.

Albion Economic Development Corporation approved a $14,837.73 brownfield TIF reimbursement payment to ACE Investment Properties LLC for eligible costs on the Brick Street Lofts Project. This payment follows the prior brownfield reimbursement agreement and project closeout.