City of Plymouth Proposed 2022-2023 Budget - Flipbook - Page 221
The provisions of Act 381 of 1996 establishing Brownfield Authorities permit the
continuing capture of taxes in any district for up to 5 years beyond the final
reimbursement of site remediation costs to the developer. One of the four
Brownfield districts in the city has made such final payments and, under the act,
the continuing tax capture receipts are required to be deposited to a Local Site
Remediation Revolving Fund. The city’s Fund # 643 has been established for
this purpose as a means to accumulate resources to provide for future financing
of other contaminated sites in need of clean up.
-643BROWNFIELD SITE REMEDIATION
FUND
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