An amendment to the DLP Marquette General Replacement Hospital Brownfield Plan is proposed to support the development of the new Beacon House facility on the Brownfield Eligible Property of the DLP Brownfield Plan. This public hearing was scheduled at the May 10, 2021 City Commission meeting.
As there is no balance in either the DLP or City Brownfield Eligible Activity budget, the Eligible Activity budget must be amended to reallocate the $450,000 estimate for the Beacon House from either the Local Brownfield Fund or from interest. An additional allocation of $10,000 was included for Work Plan Approval and Implementation, for a total of $460,000. The allocated is proposed to be taken from the interest line item, which is anticipated to be lower than estimated, given the quicker payback for Eligible Activities and lower bond interest rates.
The Amendment proposes to transfer the allocation provided in the original Brownfield Plan from interest or, if necessary, from the Local Brownfield Revolving Fund to provide for reimbursement of Environmental Eligible Activities in an amount not-to-exceed $150,000 and Non-Environmental Eligible Activities in an amount to exceed $300,000, plus $5,000 for Brownfield Plan Development and approval.
The Brownfield Plan Amendment was presented to and approved by the Marquette Brownfield Redevelopment Authority at their February 18, 2021 meeting for review and approval.