Brownfield Work Plan:
MSF approved $7,963,274 in local and school tax capture for the Oakland County Brownfield Redevelopment Authority to redevelop 80 acres of property in downtown Pontiac for the redevelopment of the vacant GM Pontiac Validation Center property. The tax increment revenue will be used to alleviate brownfield conditions at the site and for demolition, site preparation and infrastructure improvements. The property is owned by M1 Concourse, LLC. The completed project will include a car condominium and demonstration track for car owners in the metro Detroit area, as well as a restaurant, events center, and retail stores. The project will generate a total capital investment of $45 million and create 95 jobs. The Oakland County Brownfield Redevelopment Authority is seeking $5.2 million in reimbursement from the Michigan Department of Environmental Quality for environmental activities related to the project.