La Salette Redevelopment Project Update
Overview
After the expressed concerns related to parking, building height, the distance between the proposed buildings and neighboring properties, traffic and the amount of proposed green space included in the plan, Stonefield Engineering & Design, LLC has went back to the drawing board for the proposed planned unit development (PUD) on the La Salette School Property.
What are the improvements being made to the site?
The developer is proposing the adaptive reuse of the existing school building and would redevelop it to a multiple-family residential building with 55-56 apartment units.
The developer has recently completed its geotechnical investigation for the proposed changes, as well as, a redesign of the site plan.
Additionally, Stonefield is making the building conducive for a liveable environment which includes; stormwater management and drainage enhancements so that it is up-to-date with public works, soil erosion and sedimentation control, updates to the utility and lighting, exterior and streetscape improvements.
Below you can review the site plan documentation which will be discussed at the Planning Commission meeting tomorrow, November 26, 2019:
Timeline for Development: Redevelopment of La Salette to a Multiple-Family Residential District is projected to begin Mid - 2020
Please note: This is dependent on the permit approval process the developer must go through.
A Note on Understanding How TIF Districts Work
What is a TIF District: Established in the mid-1970s within the United States, Tax Increment Financing (TIF) Districts were created as an economic tool which many municipalities used in order to finance different projects for commercial development, neighborhood revitalization, or other economic development purposes within a specific community.
TIF Districts allow for the capture of "property tax revenue" within a predetermined area instead of going into the overall general fund of a community. This is to ensure that specific revenue is put directly back into the community either to develop the area or provide funds for a specific project that is within the community TIF District area.
TIF Districts do not increase or affect the taxes for the existing residents or businesses that are not within it. Property Owners will continue to pay their taxes as they normally do and will not see any change in the amount they pay compared to the amount they would pay absent the TIF District. What the TIF District captures is the added property value revenue to the property itself.
The City of Berkley's TIF District:
In the early 1990s, the City established a TIF District which encompassed Our Lady of La Salette School. With the redevelopment of the school to a multiple-family residential district, this means that the occupants and property owner will be directly funding the economic development improvements within Berkley's downtown, streetscapes, and infrastructure improvements. These benefits increase the overall investment and value of the city as a whole.
Within Michigan, statutes that authorize TIF and the decision to develop a TIF plan rests with a municipality. The City of Berkley and the Downtown Development Authority, which is an extension of the City that specializes in the revitalization of the downtown facade and infrastructure improvements, will work to designate how to best utilize the captured revenue and place it back into the community.
To break it down to a dollar value, check out the image below to see how much of a revenue dollar is utilized within Berkley through the TIF District.