http://www.mlive.com/news/flint/index.ssf/2010/05/new_irs_building_in_flint_land.htmlNew IRS building in Flint lands state, local tax supportBy Kristin Longley | Flint Journal
May 18, 2010, 1:58PM
FLINT, Michigan — More than $500,000 in captured taxes will go toward the new IRS building in Flint, state officials announced today.
The new single-story, 15,000-square-foot office complex at 901 N. Saginaw St. will be supported by state and local tax capture valued at $227,786 and an additional $287,115 in local-only tax capture, according to a statement from Gov. Jennifer Granholm's office.
The U.S. General Services Administration in late July awarded a contract to Elba Road Development LLC of Lapeer for the new IRS Taxpayer Assistance Center.
Infrastructure improvements include new sidewalks, curbs, lighting, catch basins, landscaping and public parking. The development will be leased to the IRS.
The IRS and its 44 employees have outgrown its leased office, 815 S. Saginaw St. at Court Street, its home since 1995. The office is one of six such centers across Michigan.
The project will generate $2.5 million in new capital investment and create up to 15 new jobs, according to the statement.
The support will be generated through a tax increment finance plan, meaning a portion of the increase in the tax base resulting from the development will be captured.