Sen. Kahn announces $660,000 for BV redevelopment
Wednesday, October 28, 2009
LANSING — A Brownfield Work Plan request for redevelopment of the former Fort Saginaw Mall site in Buena Vista has been approved and will receive a state grant of $660,000, said state Sen. Roger Kahn, R-Saginaw Township.
“This is fantastic news for Buena Vista and Saginaw County,” Kahn said. “I applaud the efforts of the Saginaw County Brownfield Redevelopment Authority and the Buena Vista Township DDA for their work to help better the community. We have a chance to turn a blighted area into a magnet for development.”
The Fort Saginaw Mall, located at 2335 E. Holland Ave., was built in 1966 and closed in the 1990s. In 2004 the township purchased the property for $3.13 million.
To make the site ready for development the existing structure must be demolished and any remaining dangerous elements must be removed.
Michigan Economic Growth Authority officials estimate that long-term a new development attracted to the site could result in the creation of a substantial number of new jobs.
In addition to the $660,000 Blight Elimination Community Development Block Grant, approximately $1.7 million in captured tax revenue will be used to help prepare the site for redevelopment.
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