Washtenaw County commissioners call special meeting to discuss Georgetown Mall redevelopment
The Washtenaw County Board of Commissioners has called a special working session for Tuesday to discuss changes to the county's Full Faith and Credit Policy as well as the proposed Packard Square redevelopment project, county officials said.
The meeting will start at 6:30 p.m. in the county administration building at 220 N. Main St. in downtown Ann Arbor.
County commissioners expressed hesitations last week about helping to finance the redevelopment of the former Georgetown Mall site in Ann Arbor.
A rendition of the Packard Square project submitted by the developer several months ago.
From The Harbor Companies LLC
The county also is being asked to apply for a $1 million grant and a $1 million loan from the state for the four-story building containing 230 apartment units and 23,790 square feet of retail space. The loan would be backed with the full faith and credit of the county, which has some commissioners concerned about potential debt obligations if the project isn't successful.
During next Tuesday's meeting, commissioners are expected to discuss amendments to the existing Washtenaw County Full Faith and Credit Policy from Nov. 14, 2007.
- Click here to download the policy.
The board also has requested that three chairs' briefings (previously known as administrative briefings) be posted as open meetings so other commissioners and the public can attend. The meetings will be held at 4 p.m. at 220 N. Main St. on May 24, June 28 and July 26.
Ryan J. Stanton covers government and politics for AnnArbor.com. Reach him at ryanstanton@annarbor.com or 734-623-2529. You also can follow him on Twitter or subscribe to AnnArbor.com's e-mail newsletters.
Comments
Blue Eyes
Thu, May 12, 2011 : 2:23 p.m.
Plain and simple - quit using County money to pay for City projects. If the City wants to subsidize developers, let them, but there's no reason for the County to subsidize developers within the City.
dotdash
Thu, May 12, 2011 : 1:01 a.m.
The policy for which you provide a link says the county can assist local units of government by backing them with the full faith and credit of the county. It doesn't say anything about assisting private enterprises. This seems to imply that no one envisioned a case where the county would lend its full faith and credit to a private organization. Why are they even considering this? Didn't anyone learn anything from Sylvan Township's sewer debacle? There are too many aspects of this project that will be completely outside county control so why are we assuming risk?
Will Warner
Thu, May 12, 2011 : 12:05 a.m.
"…it is being asked to approve a tax-increment financing plan that would forestall realization of any new taxes from the development for 14 years to help pay for environmental cleanup and other activities." ...has been reported before, is defensible, and, I thought, approved. I was completely in sympathy with the tax deferrals to make the project viable in the face of needed demo and cleanup, when the alternative is letting the eyesore just sit there. But "the county also is being asked to apply for a $1 million grant and a $1 million loan from the state" I had not heard before. If this is an example of the developer weaseling for more after getting approval of the project, then my reaction as county commission would be: "don't jerk me around. Deal canceled."
David Cahill
Wed, May 11, 2011 : 11:06 p.m.
I love it when developers want the government to subsidize their projects! Such a subsidy shouldn't be handed out to just anyone with their hand out. And why, pray tell, should the county's taxpayers be on the hook if this project goes belly up?
xmo
Wed, May 11, 2011 : 11 p.m.
I wonder how many other proposal's they have to Consider? (ZERO) Because we are still in a recession/depression. If you want to stimulate the economy you need to drop taxes and get out of the way of the private sector! Governments cannot create jobs only the risk takers of the private sector can. So, County commissioners, get out of the way!