Title
Proposed Brownfield Redevelopment Plan and Initial 381 Work Plan for Hamlin Adams Site, Parcel Nos. 15-29-101-022 and 15-29-101-023; Hamlin Adams Properties, LLC, Applicant
Body
RESOLVED that the Rochester Hills City Council hereby APPROVES the Brownfield Redevelopment Plan for the Hamlin/Adams Brownfield Project, City File No. 03-013, based on the Plan dated received by the Planning Department on September 11, 2006, with the following findings and subject to the following conditions:
FINDINGS
1. The submitted Plan meets the requirements for a Brownfield Redevelopment Plan under State Act 381 and the City of Rochester Hills.
2. The subject parcels are the site of a former landfill/dump and a source of known contamination within the City.
3. If implemented, the Plan provides a reasonable course of action for the remediation of a known contaminated site.
4. If implemented, the amount, pay back period, and use of tax increment financing (TIF) is reasonable for the eligible activities proposed.
CONDITIONS
1. That all 381 Work Plans for the site are required to be reviewed and accepted by the City's Brownfield Redevelopment Authority prior to submittal to the Department of Environmental Quality (DEQ).
2. That the applicant and City Council enter into a Reimbursement Agreement prior to the utilization of TIF captured for eligible activities.
3. That a cap regarding the life of the Plan be determined and imposed by City Council and identified in a Reimbursement Agreement to be entered into between the applicant and City Council prior to the utilization of any TIF captured for eligible activities.
4. That if the extent of Due Care activities related to the subject site is altered or revised due to a change to the proposed development plans or proposed use of the site, the applicant shall submit an amended BRA Plan to the Brownfield Redevelopment Authority.
POTENTIAL ADDITONAL CONDITIONS
1. That the second sentence of Section 3.12 be removed from a revised Plan, to be reviewed and approved by Staff prior to submission of the Plan to the DEQ.
2. That the language in the Plan be revised to indicate that the City does not approve the capture of TIF for the repayment of interest for eligible activities, to be reviewed and approved by Staff prior to submission to the DEQ.
3. That the language in Section 3.12 be revised to indicate that 10% of the TIF captured from the proposed development shall be deposited in the City's Local Revolving Fund yearly and that the City retains the option to capture the full TIF amount for up to five years after eligible activities are reimbursed, the revised language to be reviewed and approved by Staff prior to submission of the Plan to the DEQ.
4. That the Plan be revised to indicate that the City, in conformance with the Consent Judgment, will only capture 75% of the available TIF from the project and that 25% will go to the normal taxing jurisdictions, revised language to be reviewed and approved by Staff prior to submittal of the plan to the DEQ.