Flint, MI—Flint City Council allocated $5.25 million towards industrial development Buick City, a former General Motors site, at its Oct. 24, 2022 meeting.
In two resolutions, city council unanimously agreed to allocate $5.25 million toward the site’s redevelopment. Of these funds, $3.25 million come from the city’s American Rescue Plan Act funds and another $2 million from a Charles Stewart Mott Foundation grant.
Susan Harvey, senior vice president of Ashley Capital, the development group in negotiation to purchase the site, attended the meeting and said her group plans to formally take ownership of the property after an environmental plan is in place.
According to Harvey, the site’s current owner, Revitalizing Auto Communities Environmental Response (RACER) Trust, is working on an environmental plan with the Environmental Protection Agency and the Michigan Department of Environment, Great Lakes and Energy.
She said they hope to complete the plan by January or February 2023, and from there Ashley Capital will formally take ownership of the property and begin constructing its first building within 60 days of closing.
“It’s inspiring to see these public and private partners come together to make this project work,” said Samantha Fountain, the city of Flint’s Economic Development Director, in an Oct. 25 press release. “This site was left with unique challenges to redevelopment, and without this collaboration, the project wouldn’t be possible. This is going to spur economic revitalization, especially for Flint’s northside. I’m excited to see the ripple effect this major investment will have, hopefully allowing adjacent small businesses to thrive.”
As Ashley Capital shared in a prior council meeting, the group is seeking a total of $17 million in grant assistance for Buick City’s redevelopment, some of which will be leveraged further. Those funds are being sought from the following entities:
• $3.25 million – City of Flint ARPA funds
• $2 million – Charles Stewart Mott Foundation
• $3.25 million – Genesee County ARPA funds
• $8.5 million – Michigan Economic Development Corporation (MEDC)
The Genesee County Commissioners approved a $3.25 million ARPA allocation at their Oct. 12, 2022 meeting, and, according to the city’s press release, MEDC could move forward with the final $8.5 million allocation as soon as November 2022.