FBM Attorneys Assist Developer to Boost Local Economy
FBM attorneys successfully secured over $760,000 in tax increment financing (“TIF”) from the City of Jackson, MI for the development of a 60,000 square foot medical office building in the City of Jackson’s Downtown Development District. Attorneys Rich Baron and Brian Phinney worked closely with the City of Jackson and its Downtown Development Authority to negotiate the terms of the TIF plan, which will be used to reimburse the developer, Minneapolis-based Frauenshuh Healthcare Real Estate Solutions, for its anticipated costs of correcting soil conditions at the site. “I was impressed with the consensus that the FBM attorneys were able to build among various public and private stakeholders involved in this project,” stated Hendrik Schuur of Allegiance Health. The Jackson City Council gave its unanimous approval Tuesday, February 26, 2008 for the $12 million project, which will house a new neuromuscular specialty center for Allegiance Health. “Everyone is very excited,” said Richard Baron, “the project will be good for the area’s health-care industry and give the city an economic boost.” Contact [email protected] for additional information.