Downtown Development Authority Agenda 07-06-2021

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                                                    CITY OF MUSKEGON

                        DOWNTOWN DEVELOPMENT AUTHORITY (“DDA”)

                     BROWNFIELD REDEVELOPMENT AUTHORITY (“BRA”)

                                                  REGULAR MEETING


                     DATE OF MEETING:                                   Tuesday, July 6, 2021
                     TIME OF MEETING:                                   10:30 A.M.
                     PLACE OF MEETING:     City Hall Commission Chambers, 933
                                           Terrace Street, Muskegon, Michigan
 ______________________________________________________________________________


                                                            AGENDA


      I.        Roll Call
      II.       Approval of the regular meeting minutes of May 11, 2021
      III.      Public comment on agenda items
      IV.       Brownfield Redevelopment Authority business
                A. Brownfield Plan Amendment for Adelaide Pointe (Pete Wills-Jake Ekholm)
      V.        Downtown Development Authority business
                A. DDA financial report (Dave Alexander)
                B. Downtown events update (Lakeshore Art Festival, Carla Flanders-Dave
                   Alexander)
      VI.       Public participation
      VII.      Adjourn



AMERICAN DISABILITY ACT POLICY FOR ACCESS TO OPEN MEETING OF THE CITY COMMISSION AND ANY OF
                             ITS COMMITTEES OR SUBCOMMITTEES

   The City of Muskegon will provide necessary reasonable auxiliary aids and services, such as signers for the hearing
 impaired and audio tapes of printed materials being considered at the meeting, to individuals with disabilities who want
  to attend the meeting, 24- hour notice to the City of Muskegon. Individuals with disabilities requiring auxiliary aids or
services should contact the City of Muskegon by writing or calling the following: Ann Meisch, City Clerk at 933 Terrace
 Street, Muskegon, MI 49440 or by calling (231) 724-6705 or TTY/TDD: Dial 7-1-1 and request that representative dial
                                                        231-724-6705
                              CITY OF MUSKEGON
                   DOWNTOWN DEVELOPMENT AUTHORITY (DDA) /
                  BROWNFIELD REDEVELOPMENT AUTHORITY (BRA)
                               REGULAR MEETING
                                   MINUTES

                                           May 11, 2021

The meeting was held electronically via Zoom. Chairperson M. Bottomley called the meeting to order
at 10:30 AM and roll was taken.

MEMBERS PRESENT:             M. Bottomley (Muskegon MI), B. Hastings (Muskegon MI), M.
                             Kleaveland (Muskegon MI), F. DePung (Muskegon MI), M. Johnson Sr
                             (Norton Shores MI), S. Black (Muskegon MI), H. Sytsema (Muskegon
                             MI), D. Kalisz (Muskegon MI), H. Sytsema (Muskegon MI), F. Peterson
                             (Muskegon)

MEMBERS ABSENT:              J. Riegler, J. Moore, D. Pollock

STAFF PRESENT:               P. Wills, Director of Strategic Initiatives; J. Eckholm, Economic
                             Development Director; L. Mikesell, Director of Development Services;
                             D. Alexander, Downtown Manager; C. Cashin, Planner & meeting
                             facilitator

OTHERS PRESENT:              R. Wilson, Fishbeck; M. Houseman, Wolverine Building Co.

APPROVAL OF MINUTES
A motion to approve the regular meeting minutes of April 13, 2021 was made by F. Peterson, supported
by M. Kleaveland and unanimously approved.

BROWNFIELD REDEVELOPMENT AUTHORITY BUSINESS

Brownfield Plan Amendment for Viridian Shores Redevelopment Project – P. Wills explained the
request. Harbor 31 LLC sought BRA approval to amend the Brownfield Plan to add 150 Viridian Drive;
a residential development on 3.5 acres located at 150 Viridian Drive along the south shore of Muskegon
Lake. The investment in the first phase is estimated at $15.2 million. J. Eckholm briefly discussed
ongoing environmental investigation on site. Representatives for the developer provided additional
detail on the Brownfield Plan Amendment.

Motion to approve the resolution for the Brownfield Plan Amendment for the Viridian Shores at Harbor
31 Redevelopment Project and further request a public hearing before the Muskegon City Commission
to consider adoption of the plan made by M. Kleaveland and supported by H. Sytsema. Roll call vote:
M. Bottomley, B. Hastings, F. Peterson, M. Kleaveland, M. Johnson Sr, H. Sytsema, J. Wallace Jr, F.
DePung, S. Black, D. Kalisz, none voting Nay.

Discussion Only – Harbor 31 LLC future EGLE Brownfield Loan – J. Eckholm and representatives for
the developer provided background as to the potential of pursuing a State Brownfield Loan for the
Viridian Shores redevelopment project. There are significant environmental costs associated with
redeveloping the property. These costs total approximately $2,000,000 and relate to the installation of
vapor intrusion mitigation systems beneath proposed structures, construction of engineered barriers to
protect against direct contact exposures, proper management of contaminated soil and groundwater
during construction activities, and associated consultant oversight and reporting. EGLE, the City of
Muskegon, and the developer have discussed the pursuit of an EGLE Brownfield Loan to offset some
of these expenses. The maximum loan request is $1,000,000. The BRL funds serve as a reimbursement
for eligible environmental activity costs incurred by the developer under EGLE approved work plans.
BRL funds can also be used to reimburse administrative costs by the City and third-party oversight by
a professional environmental consultant. No BRA action was needed in May.


DOWNTOWN DEVELOPMENT AUTHORITY BUSINESS

DDA Financial Report – D. Alexander reviewed the budget figures as of 4/30/21. Two more months
remain in the fiscal year. Additional Event Revenue expected to come in as a result of staff working
with event vendors on their application fees. Fundraising revenue is expected to increase to support
downtown events. M. Johnson Sr asked about response from Art Fair vendor participants. D. Alexander
said event organizers are pleased with vendor interest as well as quality of art to make available at the
upcoming event.

Motion to accept the financial report H. Sytsema and supported by M. Johnson Sr. Voice vote all in
favor, no nays.

DDA financial request from Downtown Muskegon Social District – D. Alexander requested DDA
board to authorize staff to spend no more than $4,000 to create a Social District gathering space at
Second and Western. The owners of Burl & Sprig are moving into their new location on Second Street
(old Boar’s Belly) approached downtown, the city and the chamber on creating common area space at
Second and Western. The site is owned by the Downtown Muskegon Development Corp. and B&S has
an agreement with the DMDC to use the back 30 feet of the site for a portable stage. B&S has a plan
to refurbish the sand and put up picnic tables, lights and some overhead canopies for shade. The
estimate for materials and electric is $8,000. City DPW will be providing the sand. Staff would go to
the BID and ask for authorization for the other $4,000. Currently, the DDA has approximately $30,000
in surplus funds for the 20-21 fiscal year with one month to go. If funding is secured and materials
purchased, B&S, the chamber and downtown would organize a volunteer event to install the elements.
Public could use the space with alcoholic or non-alcoholic beverages and bring food into the space.
Space will be handicap accessible and routinely cleaned by area establishments.

Motion to authorize staff to spend up to $4,000 to assist in funding the materials for a common area in
the Downtown Muskegon Social District at Second and Western made by J. Wallace Jr. and supported
by H. Sytsema. Voice vote all in favor, no nays.

DDA discussion and direction of FY21-22 unexpended funds – Staff had discussion on what should be
done in the upcoming 2021-22 fiscal year budgeted with anticipated unexpended funds ($75,000-
$100,000). F. Peterson mentioned that federal stimulus funds may provide opportunity to assist
downtown activities; such as Frauenthal Center campaign, MMA capital campaign, BGC capital
campaign, Symphony’s capital campaign, and MCC investment. Other potential investments include
in the Arena, Farmers Market, Hartshorn Marina, public improvements, waterfront access, Shoreline
Drive conversion. Initial staff recommendations will likely be adjusted based on community input. M.
Bottomley discussed request for financial assistance from the Women’s Club for cost of $25,000 roof
repair.

Downtown events update (D. Alexander) – D. Alexander mentioned that summer event planning is
underway along with media advertising; event volunteer opportunities exist; implementation of social
district continues.

PUBLIC PARTICIPATION
None during the meeting. Staff discovered after the meeting that two people attempted to call in but
were not connected into the meeting. Staff followed-up with these folks to address their comments.

Adjournment – There being no further business, the meeting was adjourned at 11:57 p.m.




pw
                    Muskegon Brownfield Development Authority:
                             Agenda IV-A Item for 7-6-21
             Adelaide Pointe QOZB, LLC, 1148 and 1204 West Western Ave.
                               Adelaide Pointe Project
                             Brownfield Plan Amendment

Requesting party: Adelaide Pointe QOZB, LLC

Outline of the request: Adelaide Pointe QOZB, LLC has submitted a Brownfield Plan
Amendment for the Adelaide Pointe Project – a 35-acre mixed use waterfront
development project including winter boat storage, marina space, In/Out forklift boat
storage, commercial/retail, and up to 400 housing units. Redevelopment of this former
industrial site is located at 1149 and 1204 West Western Ave on the south shore of
Muskegon Lake. Total private investment, not including property acquisition, is
approximately $175 million.

Background: The project seeks to transform the site of a former steel mill into a
development that will expand public access to waterfront activities through the creation
of a 280 slip marina, 400 new residential condo units of approximately 1,500 sf, dry
stack marina and boat storage, and commercial/retail space. Plans include using
sustainable development techniques, including solar boardwalks and roof systems,
electric vehicle charging stations, low-impact development stormwater management,
and integrated parking. The project is expected to lead to the creation of approximately
100 new positions (retail, office, marina) as well as hundreds of temporary construction-
related jobs. Plans for the site are expected to commence this summer and continue
through Fall 2030.

This sustainably designed multi-use project is intended to improve the existing 3,500-
foot Muskegon Lake shoreline through the expansion of public access for waterfront
activities such as swimming, fishing, boating, inviting peninsula park/greenspace areas,
and transient docking. The project will create a walkable community which will further
connect to an existing bike trail, our vibrant downtown and other recreational activities.

Staff comments:
   1. In December 2020, the developer’s environmental consultant completed a Phase
       II Environmental Site Assessment (ESA) as well as a Baseline Environmental
       Assessment. Utilized primarily as a lumberyard followed by foundry operations,
       these past industrial uses have resulted in known contamination onsite which
       therefore meets the definition of a “facility” under the state’s Brownfield Act PA
       451.
   2. This plan is for $28,722,614 in eligible costs. It is a local-only property tax capture
      plan, although through statute the plan is eligible for $350,000 for eligible
      environmental costs captured by state educational millage through EGLE. There is
      no need for state approval.
   3. The local only EGLE eligible costs are $2,250,000 and include the following due
      care activities - $500,000 vapor intrusion mitigation, $1,500,000 soil capping, and
      $250,000 dewatering. Local only MSF eligible costs are $13,195,000 which
      include $1,500,000 demolition, $1,250,000 asbestos abatement, $5,445,000 site
      preparation and $5,000,000 for infrastructure improvements.
   4. The initial capture for phase one is estimated at $646,299 over the 20 years of
      the plan. Subsequent phases are expected to bring further plan amendments to
      the BRA that would cover all eligible costs within the plan’s timeframe.
   5. The cost of the eligible activities included in this Plan Amendment will be paid for
      by the Developer. The Developer will seek reimbursement for eligible activity
      costs through capture of available local and state (as applicable) tax increment
      revenues as permitted by Act 381.
   6. Capture of tax increment revenues for Developer reimbursement is anticipated
      to commence in 2022 and end in 2042, a total of 20 years. This Plan Amendment
      assumes approximately five years of additional capture of tax increment
      revenues (following Developer reimbursement) for deposit into a Local
      Brownfield Revolving Fund, if available.
   7. There is a 15 percent contingency in the plan.
   8. A request for 5% interest is included for all accrued and unreimbursed eligible
      activities on a yearly basis.
   9. There is an annual $10,000 administrative fee paid to the BRA.
   10. The City is currently negotiating with the Developer on a possible TIF split to
      lower the eligible cost obligations, for both parties, of expected public
      infrastructure improvements.

Staff recommendation: City staff has reviewed the Adelaide Pointe Project brownfield
plan amendment and recommends approval.

Suggested motion: I move to approve/disapprove the resolution for the Brownfield Plan
Amendment for the Adelaide Pointe Project and further request staff to set a public
hearing before the Muskegon City Commission to consider adoption of the plan.
                                      City of Muskegon
                             Brownfield Redevelopment Authority
                            County of Muskegon, State of Michigan

            RESOLUTION APPROVING REVISED BROWNFIELD PLAN AMENDMENT

                                     Adelaide Pointe Project




       Minutes of a regular meeting of the Board of the City of Muskegon Brownfield

Redevelopment Authority, County of Muskegon, State of Michigan, held on the 6th day of July

2021 at 10:30 a.m., prevailing Eastern Time.

       PRESENT:       Members ____________________________________________________

______________________________________________________________________________

       ABSENT:        Members ____________________________________________________



       The following preamble and resolution were offered by Member ______________              and

supported by Member ___________________:

       WHEREAS, a Brownfield Plan has been adopted pursuant to Act 381, Public Acts of

Michigan, 1996, as amended (“Act 381”), a copy of which is on file with the Secretary of the City of

Muskegon Brownfield Redevelopment Authority (the “Authority”); and

       WHEREAS, the Authority is authorized to approve amendments to the Brownfield Plan and

recommends the Amendment to add eligible properties within the Adelaide Pointe Project for

approval to the City of Muskegon, County of Muskegon, State of Michigan (the “City”).


       NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:

       1.     Approval of Brownfield Plan.       The Board hereby adopts and approves the

       Brownfield Plan Amendment for the Adelaide Pointe Project and recommends the approval

       of the Brownfield Plan Amendments by the Muskegon City Commission.

       2.     Public Hearing. The Board hereby requests city personnel to provide a notice of
     Public Hearing on the proposed Brownfield Plan Amendments, and further requests that

     such hearing notice be provided to all taxing jurisdictions. Notice of the time and place of

     the hearing shall be given pursuant to Act 267, Public Acts of Michigan, 1976, as amended

     (“Open Meetings Act”).

     3.      Deliver Resolution and Brownfield Plan to City.         The Chair of the Authority is

     directed to deliver a certified copy of this resolution and the Brownfield Plan Amendments to

     the City Clerk.

     4.      Disclaimer.   By adoption of this resolution and approval of the Brownfield Plan

     Amendments, the Authority assumes no obligation or liability to the owner, developer or

     lessor of the Eligible Property for any loss or damage that may result to such persons from

     the adoption of this resolution and Brownfield Plan Amendments.

     5.      Work Plan Transmittal. The Chair of the Authority shall be authorized to transmit to

     the Michigan Strategic Fund, the Michigan Economic Development Corporation and/or the

     Michigan Department of Environmental Quality, on behalf of the Authority, a final Act 381

     Work Plan that has been reviewed and approved by the Authority.

     6.      Repealer. All resolutions and parts of resolution in conflict with the provisions of this

     resolution are hereby repealed or amended to the extent of such conflict.

     AYES:

     NAYS:



RESOLUTION DECLARED ADOPTED.


                                    ____________________________
                                    Martha Bottomley, Chair
                                    City of Muskegon Brownfield Redevelopment Authority




                                              -2-
I hereby certify that the foregoing is a true and complete copy of a resolution adopted by the Board

of the City of Muskegon Brownfield Redevelopment Authority, County of Muskegon, State of

Michigan, at a regular meeting held on July 6, 2021, and that said meeting was conducted and

public notice of said meeting was given pursuant to and in full compliance with the Open Meetings

Act, being Act 267, Public Acts of Michigan, 1976, and that the minutes of said meeting were kept

and will be or have been made available as required by said Act.



                                     _____________________________
                                     Martha Bottomley, Chair
                                     City of Muskegon Brownfield Redevelopment Authority




                                               -3-
City of Muskegon
Brownfield Redevelopment Authority

Brownfield Plan Amendment for the
Adelaide Pointe Project at
1148 & 1204 West Western Avenue
Muskegon, Michigan


Approved by the City of Muskegon Brownfield Redevelopment Authority
Approved by the City of Muskegon Board of Commissioners




Prepared with the assistance of:
Fishbeck
1515 Arboretum Drive SE
Grand Rapids, Michigan 49546
616-464-3876
Table of Contents                                                                                                                             Fishbeck | Page i


1.0    Introduction ...................................................................................................................................................1
       1.1     Proposed Redevelopment and Future Use for the Eligible Property ................................................1
       1.2     Eligible Property Information ............................................................................................................1

2.0    Information Required by Section 13(2) of the Statute ...................................................................................2
       2.1    Description of Costs to Be Paid for With Tax Increment Revenues ..................................................2
       2.2    Summary of Eligible Activities ...........................................................................................................4
       2.3    Estimate of Captured Taxable Value and Tax Increment Revenues ..................................................5
       2.4    Maximum Amount of Note or Bonded Indebtedness .......................................................................5
       2.5    Duration of Brownfield Plan..............................................................................................................5
       2.6    Estimated Impact of Tax Increment Financing on Revenues of Taxing Jurisdiction ..........................5
       2.7    Legal Description, Property Map, Statement of Qualifying Characteristics and Personal Property..5
       2.8    Estimates of Residents and Displacement of Individuals/Families....................................................5
       2.9    Plan for Relocation of Displaced Persons..........................................................................................6
       2.10 Provisions for Relocation Costs .........................................................................................................6
       2.11 Strategy for Compliance with Michigan’s Relocation Assistance Law...............................................6
       2.12 Other Material that the Authority or Governing Body Considers Pertinent .....................................6

List of Figures
Figure 1 – Location Map
Figure 2 – Site Layout Map

List of Tables
Table 1 – Tax Increment Revenue Capture
Table 2 – Tax Increment Revenue Reimbursement Allocation

List of Attachments
Attachment A       Brownfield Plan Resolution(s)
Attachment B       Conceptual Renderings
Attachment C       Environmental Data Tables and Map
Attachment D       Reimbursement Agreement
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1.0              Introduction
The City of Muskegon Brownfield Redevelopment Authority (the “Authority” or MBRA) was established by the City
of Muskegon pursuant to the Brownfield Redevelopment Financing Act, Michigan Public Act 381 of 1996, as
amended (“Act 381”). The primary purpose of Act 381 is to encourage the redevelopment of eligible property by
providing economic development incentives through tax increment financing for certain eligible properties.
This Brownfield Plan Amendment (“Plan Amendment”) serves as an amendment to the City of Muskegon’s
existing Brownfield Plan, allowing inclusion of the eligible property described in Sections 1.1 and 1.2 below.
Incorporation of eligible property into the City’s Brownfield Plan permits the use of tax increment financing to
reimburse Adelaide Pointe QOZB, LLC (“Developer”) for the cost of eligible activities required to redevelop the
eligible property. See Attachment A for copies of Plan Amendment resolutions.

1.1              Proposed Redevelopment and Future Use for the Eligible Property
The Developer is proposing to redevelop a former industrial site located at 1148 and 1204 West Western Avenue,
Muskegon, Michigan (the “Property”). Proposed redevelopment activities include: revitalizing existing site
structures for boat storage, busines offices, and lease space (approx. 218,000 sf); creation of a new 280 slip
marina and construction of a three-story, mixed-use building with ground level retail and office space, a second-
floor restaurant, and third floor deck area (approx. 7,500 sf); 50 boat condos (totaling approx. 250,000 gross sf);
and 250 - 300 residential condo units (averaging approx. 1,500 sf each) within a six building footprint (the
“Project”). The Project will create a walkable community that incorporates public access to waterfront activities
(e.g., swimming, fishing, boating), inviting greenspace areas, and transient docking. Sustainable development
techniques are proposed throughout the Project, including solar boardwalks and roof systems, electric vehicle
charging stations, low-impact development stormwater management, and integrated parking. Total private
investment, not including property acquisition, is approximately $175,000,000. The mixed-use waterfront
development will create approximately 100 new jobs (retail, office, marina) and provide contractor work for
hundreds of temporary construction workers. Conceptual renderings are provided in Attachment B.
The structured five-phase development is summarized in the table below.

 Development Phase                                                                    Anticipated Start Date Desired Completion Date

 Phase I – Revitalize existing buildings for boat storage                              Spring/Summer 2021            Summer/Fall 2021

 Phase II – Creation of forklift in/out service                                              Spring 2022            Spring/Summer 2022

 Phase III – Construction of marina, mixed-use building                                      Spring 2023            Spring/Summer 2024

 Phase IV – Construction of 50 boat storage and                                              Spring 2024                 Fall 2027
 warehouse

 Phase V – Construction of residential condos                                                Spring 2022                 Fall 2030



1.2              Eligible Property Information
The 35-acre Property is located at the west end of West Western Avenue on the south shore of Muskegon Lake.
Since the late 1800s, the Property has been utilized for industrial purposes, primarily a lumberyard followed by
foundry operations. Based on a recent Phase II Environmental Site Assessment (ESA) completed in December


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2020, these past industrial uses have resulted in widespread contamination across the Property. Known
contaminants in the soil with concentrations exceeding Michigan Department of Environment, Great Lakes, and
Energy (EGLE) Part 201 Generic Residential Cleanup Criteria (GRCC) include tetrachloroethylene (PCE), arsenic,
cadmium, chromium (total), copper, and selenium. Groundwater contaminants with concentrations identified
above Part 201 GRCC consist of benzene, cadmium, chromium (total), copper, lead, mercury, and zinc.
The Developer is not a liable party and completed a Baseline Environmental Assessment (BEA) in accordance with
Part 201 of the Natural Resources and Environmental Protect Act, 1995 PA 451, as amended (NREPA).
Given the known contamination, the Property is a “facility” pursuant to Part 201 of NREPA. As such, it is
considered an “eligible property” as defined by the Michigan Redevelopment Financing Act, Act 381 of 1996.
Maps depicting the location and layout of the Property are attached as Figures 1 and 2. Environmental data
tables and map are provided in Attachment C.

2.0              Information Required by Section 13(2) of the Statute
2.1              Description of Costs to Be Paid for With Tax Increment Revenues
Act 381 provides pre-approval for certain activities that have been conducted at the Property. Additional activities
require BRA approval for reimbursement from local, school operating, and state education taxes. Tax increment
revenues will be used to reimburse the Developer for the following eligible activities.
•     Pre-approved BEA, documentation of due care, asbestos/lead paint survey, and additional due care
      assessment
•     Due care activities
•     Asbestos, lead paint, and mold abatement
•     Select building and site demolition
•     Site preparation
•     Infrastructure improvements
•     15% contingency
•     Brownfield Plan Amendment
•     Brownfield Plan Amendment Implementation
•     Interest

The table below provides an eligible activity cost summary for the Project.




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                                                      ELIGIBLE ACTIVITIES COST SUMMARY
             EGLE Eligible Activities                                                                               Estimated Cost
                    Department Specific Activities
                    1. Pre-Approved Sub-Total                                                                             $350,000
                       a. BEA activities                                                                                   $52,000
                       b. Documentation of due care                                                                        $33,000
                       c. Hazardous materials survey (e.g., asbestos, lead paint,
                           etc.)                                                                                           $20,000
                       d. Due care assessment                                                                             $245,000
                                                                    EGLE Eligible Activities Total Costs                  $350,000


             Local Only Eligible Activities                                                                         Estimated Cost
                    Department Specific Activities
                    2. Due Care Sub-Total                                                                               $2,250,000
                       a. Vapor intrusion mitigation                                                                      $500,000
                       b. Soil capping                                                                                  $1,500,000
                          c. Dewatering                                                                                   $250,000
                                        Local Only Department Specific Activities Total Costs                           $2,250,000
                    Non-Environmental Activities
                    3. Asbestos, lead paint, and mold abatement Sub-Total                                               $1,250,000
                    4. Demolition (select interior and site grounds) Sub-Total                                          $1,500,000




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                    5. Site preparation Sub-Total                                                                    $5,445,000
                       a. Clearing and grubbing                                                                        $300,000
                          b. Dredging                                                                                $1,200,000
                          c. Compaction and sub-base preparation                                                      $350,000
                          d. Cut and fill                                                                             $300,000
                          e. Excavation for unstable material                                                          $70,000
                          f. Fill                                                                                     $850,000
                          g. Geotechnical engineering                                                                 $180,000
                          h. Grading/land balancing                                                                   $750,000
                          i. Relocation of active utilities                                                           $350,000
                          j.    Temporary erosion control                                                             $110,000
                          k. Temporary facility                                                                       $165,000
                          l. Temporary site control                                                                   $195,000
                          m. Surveying and staking                                                                    $125,000
                          n. Architectural/engineering costs related to eligible activities                           $500,000
                    6. Infrastructure improvements (Public)                                                          $5,000,000
                       a. East launch basin (dockage/access/gangway)                                                 $1,400,000
                       b. Marina basin (breakwater system/gangway/dockage)                                           $3,100,000
                          c. Architectural/engineering costs related to eligible activities                           $500,000
                                         Local Only Non-Environmental Activities Total Costs                        $13,195,000
                                                     EGLE and Local Only Eligible Costs Sub-Total                   $15,795,000
             Contingency (15%)*                                                                                      $2,316,750
             Brownfield Plan Amendment Preparation                                                                     $10,000
             Brownfield Plan Amendment Implementation                                                                  $10,000
             Interest (5%)                                                                                          $10,590,864
             Total EGLE and Local Only Eligible Costs                                                               $28,722,614
                       *Not applied to previously completed Department Specific Activities

2.2              Summary of Eligible Activities
Eligible activities as defined by Act 381 and included in this Plan Amendment consist of the following:
Pre-Approved Activities: These activities are permitted to occur prior to Plan Amendment approval. Preparation
of a Phase I ESA, BEA and Documentation of Due Care Compliance are necessary to protect the new Property
owner/Developer from liability for environmental contamination. A Hazardous Materials Investigation was
conducted to evaluate potential asbestos, lead paint, and other materials, as required by regulatory agencies
prior to select building demolition activities. Due care assessment will be conducted to verify compliance with
applicable due care obligations. Pre-approved activities can be reimbursed from state school and local tax
increment revenues.



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Due Care Activities: Due care activities will include implementation of vapor intrusion mitigation systems, as
applicable, to prevent unacceptable exposures to potential indoor air inhalation concerns. Soil capping will be
completed to protect against direct contact concerns related to known contamination. During construction
activities, dewatering may be necessary. Contaminated groundwater will be properly managed to comply with
due care. Due care costs will include environmental oversight and management.
Asbestos, Lead Paint, and Mold Abatement: As applicable, and prior to select building demolition activities,
asbestos, lead paint, and mold must be abated in accordance with applicable regulatory guidelines.
Demolition: Select building and Site demolition will be necessary to facilitate safe redevelopment and reuse of the
Property.
Site Preparation: Site preparation is expected to include clearing and grubbing, dredging, compaction and sub-base
preparation, cut and fill, excavation for unstable material, fill, geotechnical engineering, grading, land balancing,
relocation of active utilities, temporary erosion control, temporary facility, temporary site control, surveying,
staking and associated professional fees.
Infrastructure Improvements: Infrastructure improvements will include marina launch and basin enhancements,
sidewalks, bike paths, boardwalks, fishing docks, roadways, curb and gutter, lighting, landscaping, irrigation, low-
impact design stormwater management, utilities, and other streetscape improvements. Costs will include
oversight, management, and associated professional fees.
Plan Amendment Preparation: This Plan Amendment was required for authorization of reimbursement to the
Developer from tax increment revenues under Public Act 381 of 1996, as amended.
Plan Amendment Implementation: Tracking, submittal, review of invoices for reimbursement, plan compliance,
and data reporting will be conducted.
Contingency: A 15% contingency is included for those activities not already completed.

2.3              Estimate of Captured Taxable Value and Tax Increment Revenues
For the purposes of this Plan Amendment, the taxable value base year is 2021. The 2021 taxable value of the
eligible property is $903,810. After completion of the development, the taxable value is estimated at
$72,000,000. This Plan Amendment assumes a 1.0% annual increase in the taxable value of the eligible property.
Initial capture is anticipated to begin in 2022.
The estimated captured taxable value for the redevelopment by year and in aggregate for each taxing jurisdiction
is depicted in tabular form (Table 1: Tax Increment Revenue Capture). Actual taxable values and tax increment
revenues may vary year to year based on economic and market conditions, tax incentives, building additions, and
property improvements, among other factors.
A summary of the estimated reimbursement schedule by year and in aggregate is presented as Table 2: Tax
Increment Revenue Reimbursement Allocation.
Method of Financing and Description of Advances Made by the Municipality
The cost of the eligible activities included in this Plan Amendment will be paid for by the Developer. The
Developer will seek reimbursement for eligible activity costs through capture of available local and state (as
applicable) tax increment revenues as permitted by Act 381. Refer to Attachment D for a copy of the
Reimbursement Agreement.

2.4              Maximum Amount of Note or Bonded Indebtedness
Bonds will not be issued for this Project.



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June 22, 2021                                                                                                       Fishbeck | Page 6


2.5              Duration of Brownfield Plan
Capture of tax increment revenues for Developer reimbursement is anticipated to commence in 2022 and end in
2042, a total of 20 years. This Plan Amendment assumes five years of additional capture of tax increment
revenues (following Developer reimbursement) for deposit into a Local Brownfield Revolving Fund, if available.

2.6              Estimated Impact of Tax Increment Financing on Revenues of Taxing
                 Jurisdiction
The estimated amount of tax increment revenues to be captured for this redevelopment from each taxing
jurisdiction by year and in aggregate is presented in Tables 1 and 2.

2.7              Legal Description, Property Map, Statement of Qualifying Characteristics and
                 Personal Property
      •    The legal description is as follows:

           1148 W. Western Avenue
           COM AT SE COR LOT 4 BLK 577 FOR POB TH N 1 DEG 41 MIN W 158.40 FT TH N 76 DEG 43 MIN W 103.55
           FT TH NWLY ON THE ARC OF A 492.47 FT RAD CURVE TO THE RT 110.31 FT (LONG CORD BEARS N 70D
           18M W 110.07 FT CENTRAL ANGLE IS 12D 50M 00S) TH N 63 DEG 53 MIN W 67 FT TH N 2 DEG 4 MIN W
           33.8 FT TO RR R/W TH CON'T N 2 DEG 4 MIN W 367.7 FT TH N 37 DEG W 730 FT
           1204 W. Western Avenue
           PART OF SECTION 25 T10N R17W PRT OF BLKS 578-580DESC AS FOLS COM AT SE COR LOT 4 BLK 577
           TH S 88D 15M W ALG SLY LN SD BLK 577 EXTND (ALSO BEING NLY LN WESTERN AVE) 847.15 FT FOR POB
           TH N 01D 56M 50S W 256.10 FT TH N 31D 37M 35S E 47 FT TH N 55D 15M 15S E 89.20 FT TH N 35D 54M
           50S W 127.65 FT TH N 02D 52M 10S W 553 FT TH S 55D 13 M W 243 FTCOM 375 FT N OF SW COR OF SW
           ¼ OF NW ¼, TH N TO A POINT745 FT S OF NW COR, TH E 225 FT, TH S TO A POINT DUE E OF POB; TH W
           225 FT TO POB. SEC 16, T10N RSW. 1.03 AC M/L.
      •    The Property layout is depicted on Figure 2.
      •    The Property is considered an “eligible property” as defined by Act 381 because the Property is a facility
           pursuant to Part 201. Facility verification is included in Attachment C.
      •    New personal property added to the Property is included as part of the Eligible Property to the extent it is
           taxable.

2.8              Estimates of Residents and Displacement of Individuals/Families
No residents or families will be displaced because of the Project.

2.9              Plan for Relocation of Displaced Persons
Not applicable.

2.10             Provisions for Relocation Costs
Not applicable.

2.11             Strategy for Compliance with Michigan’s Relocation Assistance Law
Not applicable.



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June 22, 2021                                                                                                       Fishbeck | Page 7


2.12             Other Material that the Authority or Governing Body Considers Pertinent
The Project will significantly improve the Muskegon Lake shoreline through revitalization of Property once used
for industrial purposes. Existing structures will be revitalized, and environmental exposure risks mitigated. A new
marina with transient boat slips will provide boaters with opportunities to access the vibrant Muskegon
downtown and other nearby recreational activities. Construction of new boat storage and residential
condominiums will expand Muskegon Lake access and increase long-term tax revenues for the City of Muskegon
and the State of Michigan. The Development will also create numerous job opportunities for the community.




Z:\2020\201515\WORK\REPT\BROWNFIELD PLAN AMENDMENT\ADELAIDE POINTE_FINAL_BROWNFIELD PLAN AMENDMENT_2021_0625.DOCX
Figure 1
Location Map
                                                                                                                                VICINITY MAP
                                                                                                                                    MICHIGAN




                                                                                                                 CITY OF
                                                                                                                MUSKEGON
                                                                                                                                         _
                                                                                                                                         ^
                                                                                                             MUSKEGON COUNTY




                                                                                                                                                                                                                      Hard copy is
                                                                                                                                                                                                                    intended to be
                                                                                                                                                                                                                    8.5"x11" when
                                                                                                                                                                                                                   plotted. Scale(s)
                                                                                                                                                                                                                     indicated and
                                                                                                                                                                                                                  graphic quality may
                                                                                                                                                                                                                  not be accurate for
                                                                                                                                                                                                                    any other size.




                                                                                                                                                                                                                           1148 & 1204 West Western Ave., Muskegon, Muskegon County, Michigan

                                                                                                                                                                                                                                                                                                Baseline Environmental Assessment
                                                                                                                                                                                                      Leestma Management, LLC
                                                                                                                                                  SITE
PLOT INFO: Z:\2020\201515\CAD\GIS\mapdoc\FIG01_LocationMap.mxd Date: 12/11/2020 4:33:47 PM User: bahannah




                                                                                                                                                                                                                  PROJECT NO.
                                                                                                                                                                                                                        201515

                                                                                                                                                                    LOCATION MAP                                    FIGURE NO.



                                                                                                                                                         NORTH   0      1,000
                                                                                                                                                                                      FEET
                                                                                                                                                                                  2,000
                                                                                                                                                           © OpenStreetMap (and) contributors, CC-BY-SA                                     1
                                                                                                            ©Copyright 2020 All Rights Reserved
 Figure 2
Site Layout Map
                                                                                                          LEGEND

                                                                                                               Approximate Property Boundary




                                                                                                                                                                                                                            Hard copy is
                                                                                                                                                                                                                          intended to be
                                                                                                                                                                                                                          8.5"x11" when
                                                                                                                                                                                                                         plotted. Scale(s)
                                                                                                                                                                                                                           indicated and
                                                                                                                                                                                                                        graphic quality may
                                                                                                                                                                                                                        not be accurate for
                                                                                                                                                                                                                          any other size.




                                                                                                                                                                                                                                 1148 & 1204 West Western Ave., Muskegon, Muskegon County, MI
                                                                                                                                                                                                             Leesta Management, LLC

                                                                                                                                                                                                                                                                                                Baseline Environmental Assessment
  PLOT INFO: Z:\2020\201515\CAD\GIS\mapdoc\FIG03_SiteMap.mxd Date: 12/11/2020 4:43:23 PM User: bahannah




                                                                                                                                                                                                                         PROJECT NO.
                                                                                                                                                                                                                              201515
                                                                                                                                                                                   SITE MAP
                                                                                                                                               Source: Esri, Maxar, GeoEye, Earthstar Geographics, CNES/Airbus
                                                                                                                                               DS, USDA, USGS, AeroGRID, IGN, and the GIS User Community,                  FIGURE NO.


                                                                                                                                                                                                                                                 2
                                                                                                                                               Esri, HERE, Garmin, (c) OpenStreetMap contributors, Esri, HERE,
                                                                                                                                                                                                          FEET
                                                                                                                                               Garmin, (c) OpenStreetMapNORTH        0 and the
                                                                                                                                                                          contributors,      150
                                                                                                                                                                                               GIS user300
                                                                                                                                               community
©Copyright 2020 All Rights Reserved
        Table 1
Tax Increment Revenue Capture
Table 1 - Estimate of Total Incremental Taxes Available for Capture                                                                                                                                                                               1 of 3
1148 and 1204 West Western Avenue, Muskegon, Muskegon County, Michigan




                  Estimated Taxable Value (TV) Increase Rate:     1%

                                                      Plan Year              0               1              2              3             4           5            6            7            8            9            10
                                                  Calendar Year            2021            2022           2023           2024          2025        2026         2027         2028         2029         2030         2031
                                             Base Taxable Value        $    903,810 $        903,810 $      903,810 $      903,810 $    903,810 $    903,810 $    903,810 $    903,810 $    903,810 $    903,810 $    903,810
                                              Estimated New TV         $          - $      2,670,000 $    3,000,000 $    6,950,000 $ 16,750,000 $ 24,750,000 $ 35,700,000 $ 41,500,000 $ 52,500,000 $ 61,250,000 $ 61,862,500
                   Incremental Difference (New TV - Base TV)1          $       -       $   1,766,190 $    2,096,190 $    6,046,190 $ 15,846,190 $ 23,846,190 $ 34,796,190 $          40,596,190 $ 51,596,190 $ 60,346,190 $ 60,958,690

School Capture                             Millage Rate
State Education Tax (SET)                        6.00000               $       -       $     10,597 $       12,577 $       36,277 $      95,077 $      143,077 $      208,777 $        243,577 $        309,577 $       362,077 $       365,752
School Operating Tax                            17.98380               $       -       $     31,763 $       37,697 $      108,733 $     284,975 $      428,845 $      625,768 $        730,074 $        927,896 $     1,085,254 $     1,096,269
                            School Total        23.9838                $       -       $     42,360 $       50,275 $      145,011 $     380,052 $      571,922 $      834,545 $        973,651 $      1,237,473 $     1,447,331 $     1,462,021

Local Capture                              Millage Rate
County Museum                                    0.32200               $           -   $        569   $        675   $      1,947   $     5,102   $      7,678   $      11,204   $       13,072   $      16,614   $      19,431   $      19,629
County Veterans                                  0.07150               $           -   $        126   $        150   $        432   $     1,133   $      1,705   $       2,488   $        2,903   $       3,689   $       4,315   $       4,359
Senior Citzens Services                          0.49990               $           -   $        883   $      1,048   $      3,022   $     7,922   $     11,921   $      17,395   $       20,294   $      25,793   $      30,167   $      30,473
Central Dispatch                                 0.29999               $           -   $        530   $        629   $      1,814   $     4,754   $      7,154   $      10,439   $       12,178   $      15,478   $      18,103   $      18,287
Community College                                2.20340               $           -   $      3,892   $      4,619   $     13,322   $    34,915   $     52,543   $      76,670   $       89,450   $     113,687   $     132,967   $     134,316
M.A.I.S.D                                        4.75410               $           -   $      8,397   $      9,965   $     28,744   $    75,334   $    113,367   $     165,425   $      192,998   $     245,293   $     286,892   $     289,804
City Operating                                  10.07540               $           -   $     17,795   $     21,120   $     60,918   $   159,657   $    240,260   $     350,586   $      409,023   $     519,852   $     608,012   $     614,183
City Sanitation                                  2.99790               $           -   $      5,295   $      6,284   $     18,126   $    47,505   $     71,488   $     104,315   $      121,703   $     154,680   $     180,912   $     182,748
Hackley Library                                  2.39970               $           -   $      4,238   $      5,030   $     14,509   $    38,026   $     57,224   $      83,500   $       97,419   $     123,815   $     144,813   $     146,283
MPS Sinking                                      0.99810               $           -   $      1,763   $      2,092   $      6,035   $    15,816   $     23,801   $      34,730   $       40,519   $      51,498   $      60,232   $      60,843
County Operating                                 5.69780               $           -   $     10,063   $     11,944   $     34,450   $    90,288   $    135,871   $     198,262   $      231,309   $     293,985   $     343,841   $     347,330
                             Local Total        30.3198                $       -       $     53,551   $     63,556   $    183,319   $   480,453   $    723,011   $   1,055,013   $    1,230,868   $   1,564,386   $   1,829,684   $   1,848,255

Non-Capturable Millages                    Millage Rate
Community College Debt                           0.34000               $           -   $        601   $        713   $      2,056   $     5,388   $      8,108   $     11,831    $      13,803    $     17,543    $     20,518    $     20,726
Hackley Debt                                     0.45320               $           -   $        800   $        950   $      2,740   $     7,181   $     10,807   $     15,770    $      18,398    $     23,383    $     27,349    $     27,626
MPS Debt - 1995                                  3.86000               $           -   $      6,817   $      8,091   $     23,338   $    61,166   $     92,046   $    134,313    $     156,701    $    199,161    $    232,936    $    235,301
MPS Debt - 2009                                  3.50000               $           -   $      6,182   $      7,337   $     21,162   $    55,462   $     83,462   $    121,787    $     142,087    $    180,587    $    211,212    $    213,355
         Total Non-Capturable Taxes              8.1532                $       -       $     14,400   $     17,091   $     49,296   $   129,197   $    194,423   $    283,700    $     330,989    $    420,674    $    492,015    $    497,008



1
Assumes 1% annual increase for inflation
    Total Tax Increment Revenue (TIR) Available for Capture            $           - $       95,910 $      113,831 $      328,330 $     860,505 $     1,294,934 $    1,889,558 $      2,204,519 $     2,801,858 $     3,277,015 $     3,310,276

Notes-
Table 2 assumes incremental annual investment with
project completion in 2030.

For the purpose of Table 2 the new taxable value is
estimated based on 35% of a total overal investment
of $175,000,000



Z:\2020\201515\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ Adelaide rev 4 6222021.xlsx
Table 1 - Estimate of Total Incremental Taxes Available for Capture                                                                                                                                                                                        2 of 3
1148 and 1204 West Western Avenue, Muskegon, Muskegon County, Michigan




                  Estimated Taxable Value (TV) Increase Rate:

                                                      Plan Year     11           12           13           14           15           16           17           18           19           20           21           22
                                                  Calendar Year   2032         2033         2034         2035         2036         2037         2038         2039         2040         2041         2042         2043
                                             Base Taxable Value $   903,810 $    903,810 $    903,810 $    903,810 $    903,810 $    903,810 $    903,810 $    903,810 $    903,810 $    903,810 $    903,810 $    903,810
                                              Estimated New TV $ 62,481,125 $ 63,105,936 $ 63,736,996 $ 64,374,366 $ 65,018,109 $ 65,668,290 $ 66,324,973 $ 66,988,223 $ 67,658,105 $ 68,334,686 $ 69,018,033 $ 69,708,213
                   Incremental Difference (New TV - Base TV)1 $ 61,577,315 $ 62,202,126 $ 62,833,186 $ 63,470,556 $ 64,114,299 $ 64,764,480 $ 65,421,163 $ 66,084,413 $ 66,754,295 $ 67,430,876 $ 68,114,223 $ 68,804,403

School Capture                             Millage Rate
State Education Tax (SET)                        6.00000        $     369,464 $       373,213 $       376,999 $       380,823 $       384,686 $       388,587 $       392,527 $       396,506 $       400,526 $       404,585 $       408,685 $       412,826
School Operating Tax                            17.98380        $   1,107,394 $     1,118,631 $     1,129,979 $     1,141,442 $     1,153,019 $     1,164,711 $     1,176,521 $     1,188,449 $     1,200,496 $     1,212,663 $     1,224,953 $     1,237,365
                            School Total        23.9838         $   1,476,858 $     1,491,843 $     1,506,979 $     1,522,265 $     1,537,705 $     1,553,298 $     1,569,048 $     1,584,955 $     1,601,022 $     1,617,249 $     1,633,638 $     1,650,191

Local Capture                              Millage Rate
County Museum                                    0.32200        $      19,828   $      20,029   $      20,232   $      20,438   $      20,645   $      20,854   $      21,066   $      21,279   $      21,495   $      21,713   $      21,933   $      22,155
County Veterans                                  0.07150        $       4,403   $       4,447   $       4,493   $       4,538   $       4,584   $       4,631   $       4,678   $       4,725   $       4,773   $       4,821   $       4,870   $       4,920
Senior Citzens Services                          0.49990        $      30,782   $      31,095   $      31,410   $      31,729   $      32,051   $      32,376   $      32,704   $      33,036   $      33,370   $      33,709   $      34,050   $      34,395
Central Dispatch                                 0.29999        $      18,473   $      18,660   $      18,849   $      19,041   $      19,234   $      19,429   $      19,626   $      19,825   $      20,026   $      20,229   $      20,434   $      20,641
Community College                                2.20340        $     135,679   $     137,056   $     138,447   $     139,851   $     141,269   $     142,702   $     144,149   $     145,610   $     147,086   $     148,577   $     150,083   $     151,604
M.A.I.S.D                                        4.75410        $     292,745   $     295,715   $     298,715   $     301,745   $     304,806   $     307,897   $     311,019   $     314,172   $     317,357   $     320,573   $     323,822   $     327,103
City Operating                                  10.07540        $     620,416   $     626,711   $     633,069   $     639,491   $     645,977   $     652,528   $     659,144   $     665,827   $     672,576   $     679,393   $     686,278   $     693,232
City Sanitation                                  2.99790        $     184,603   $     186,476   $     188,368   $     190,278   $     192,208   $     194,157   $     196,126   $     198,114   $     200,123   $     202,151   $     204,200   $     206,269
Hackley Library                                  2.39970        $     147,767   $     149,266   $     150,781   $     152,310   $     153,855   $     155,415   $     156,991   $     158,583   $     160,190   $     161,814   $     163,454   $     165,110
MPS Sinking                                      0.99810        $      61,460   $      62,084   $      62,714   $      63,350   $      63,992   $      64,641   $      65,297   $      65,959   $      66,627   $      67,303   $      67,985   $      68,674
County Operating                                 5.69780        $     350,855   $     354,415   $     358,011   $     361,643   $     365,310   $     369,015   $     372,757   $     376,536   $     380,353   $     384,208   $     388,101   $     392,034
                             Local Total        30.3198         $   1,867,011   $   1,885,955   $   1,905,089   $   1,924,414   $   1,943,932   $   1,963,645   $   1,983,556   $   2,003,666   $   2,023,976   $   2,044,490   $   2,065,209   $   2,086,135

Non-Capturable Millages                    Millage Rate
Community College Debt                           0.34000        $     20,936    $     21,149    $     21,363    $     21,580    $     21,799    $     22,020    $     22,243    $     22,469    $     22,696    $     22,926    $     23,159    $     23,393
Hackley Debt                                     0.45320        $     27,907    $     28,190    $     28,476    $     28,765    $     29,057    $     29,351    $     29,649    $     29,949    $     30,253    $     30,560    $     30,869    $     31,182
MPS Debt - 1995                                  3.86000        $    237,688    $    240,100    $    242,536    $    244,996    $    247,481    $    249,991    $    252,526    $    255,086    $    257,672    $    260,283    $    262,921    $    265,585
MPS Debt - 2009                                  3.50000        $    215,521    $    217,707    $    219,916    $    222,147    $    224,400    $    226,676    $    228,974    $    231,295    $    233,640    $    236,008    $    238,400    $    240,815
         Total Non-Capturable Taxes              8.1532         $    502,052    $    507,146    $    512,292    $    517,488    $    522,737    $    528,038    $    533,392    $    538,799    $    544,261    $    549,777    $    555,349    $    560,976



1
Assumes 1% annual increase for inflation
    Total Tax Increment Revenue (TIR) Available for Capture $       3,343,869 $     3,377,799 $     3,412,068 $     3,446,679 $     3,481,637 $     3,516,944 $     3,552,604 $     3,588,621 $     3,624,998 $     3,661,739 $     3,698,847 $     3,736,326

Notes-
Table 2 assumes incremental annual investment with
project completion in 2030.

For the purpose of Table 2 the new taxable value is
estimated based on 35% of a total overal investment
of $175,000,000



Z:\2020\201515\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ Adelaide rev 4 6222021.xlsx
Table 1 - Estimate of Total Incremental Taxes Available for Capture                                                            3 of 3
1148 and 1204 West Western Avenue, Muskegon, Muskegon County, Michigan




                  Estimated Taxable Value (TV) Increase Rate:

                                                      Plan Year     23           24           25        TOTAL
                                                  Calendar Year   2044         2045         2046
                                             Base Taxable Value $   903,810 $    903,810 $    903,810 $       -
                                              Estimated New TV $ 70,405,296 $ 71,109,349 $ 71,820,442 $       -
                   Incremental Difference (New TV - Base TV)1 $ 69,501,486 $ 70,205,539 $ 70,916,632 $                     -

School Capture                             Millage Rate
State Education Tax (SET)                        6.00000        $     417,009 $       421,233 $       425,500 $ 7,740,536
School Operating Tax                            17.98380        $   1,249,901 $     1,262,562 $     1,275,351 $ 23,200,710
                            School Total        23.9838         $   1,666,910 $     1,683,796 $     1,700,850 $ 30,941,246

Local Capture                              Millage Rate
County Museum                                    0.32200        $      22,379   $      22,606   $      22,835   $    415,409
County Veterans                                  0.07150        $       4,969   $       5,020   $       5,071   $     92,241
Senior Citzens Services                          0.49990        $      34,744   $      35,096   $      35,451   $    644,916
Central Dispatch                                 0.29999        $      20,850   $      21,061   $      21,274   $    387,014
Community College                                2.20340        $     153,140   $     154,691   $     156,258   $ 2,842,583
M.A.I.S.D                                        4.75410        $     330,417   $     333,764   $     337,145   $ 6,133,214
City Operating                                  10.07540        $     700,255   $     707,349   $     714,513   $ 12,998,167
City Sanitation                                  2.99790        $     208,359   $     210,469   $     212,601   $ 3,867,559
Hackley Library                                  2.39970        $     166,783   $     168,472   $     170,179   $ 3,095,828
MPS Sinking                                      0.99810        $      69,369   $      70,072   $      70,782   $ 1,287,638
County Operating                                 5.69780        $     396,006   $     400,017   $     404,069   $ 7,350,671
                             Local Total        30.3198         $   2,107,270   $   2,128,617   $   2,150,177   $ 39,115,239

Non-Capturable Millages                    Millage Rate
Community College Debt                           0.34000        $     23,631    $     23,870    $     24,112    $    438,630
Hackley Debt                                     0.45320        $     31,498    $     31,817    $     32,139    $    584,669
MPS Debt - 1995                                  3.86000        $    268,276    $    270,993    $    273,738    $ 4,979,745
MPS Debt - 2009                                  3.50000        $    243,255    $    245,719    $    248,208    $ 4,515,313
         Total Non-Capturable Taxes              8.1532         $    566,660    $    572,400    $    578,197    $ 10,518,357



1
Assumes 1% annual increase for inflation
    Total Tax Increment Revenue (TIR) Available for Capture $       3,774,180 $     3,812,413 $     3,851,028 $ 66,205,458

Notes-
Table 2 assumes incremental annual investment with
project completion in 2030.

For the purpose of Table 2 the new taxable value is
estimated based on 35% of a total overal investment
of $175,000,000



Z:\2020\201515\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ Adelaide rev 4 6222021.xlsx
                   Table 2
Tax Increment Revenue Reimbursement Allocation
Table 2 - Estimate of Total Incremental Taxes Available for Reimbursement                                                                                                                                                                                                                                                                                                                                                            1 of 2
1148 1204 West Western Avenue, Muskegon, Muskegon County, Michigan




                                                           Developer
                                                            Maximum          School &
                                                         Reimbursement      Local Taxes
                                                               State        $     165,736
                                                               Local            28,556,878                                    Estimated Years of Capture: 25 years (including 5 years for LBF capture)
                                                              TOTAL         $ 28,722,614
                                                               EGLE              N/A
                                                               MSF               N/A

                                                                                                 2021             2022             2023             2024             2025           2026            2027            2028            2029           2030           2031           2032           2033           2034           2035           2036           2037           2038           2039          2040          2041          2042
Total State Incremental Revenue                                                              $              - $      42,360   $       50,275    $     145,011    $    380,052   $    571,922    $    834,545    $     973,651    $ 1,237,473    $ 1,447,331    $ 1,462,021    $ 1,476,858    $ 1,491,843    $ 1,506,979    $ 1,522,265    $ 1,537,705    $ 1,553,298   $   1,569,048   $ 1,584,955   $ 1,601,022   $ 1,617,249   $ 1,633,638
State Brownfield Redevelopment Fund (50% of SET)                                             $              - $       5,299   $         6,289   $      18,139                                                                                                                                                                                                                                                                    $   204,343
State TIR Available for Reimbursement                                                        $              - $     37,061    $       43,986    $     126,872    $    380,052   $    571,922    $    834,545    $     973,651    $ 1,237,473    $ 1,447,331    $ 1,462,021    $ 1,476,858    $ 1,491,843    $ 1,506,979    $ 1,522,265    $ 1,537,705    $ 1,553,298   $   1,569,048   $ 1,584,955   $ 1,601,022   $ 1,617,249   $ 1,429,295

Total Local Incremental Revenue                                                              $              - $     53,551    $        63,556   $     183,319    $    480,453   $    723,011    $   1,055,013   $    1,230,868   $ 1,564,386    $ 1,829,684    $ 1,848,255    $ 1,867,011    $ 1,885,955    $ 1,905,089    $ 1,924,414    $ 1,943,932    $ 1,963,645   $   1,983,556   $ 2,003,666   $ 2,023,976   $ 2,044,490   $ 2,065,209
BRA Administrative Fee                                                                       $              - $        500    $        10,000   $      10,000    $     10,000   $     10,000    $      10,000   $       10,000   $    10,000    $    10,000    $    10,000    $    10,000    $    10,000    $    10,000    $    10,000    $    10,000    $    10,000   $      10,000   $    10,000   $    10,000   $    10,000   $    10,000
Local TIR Available for Reimbursement                                                        $              - $     53,051    $        53,556   $     173,319    $    470,453   $    713,011    $   1,045,013   $    1,220,868   $ 1,554,386    $ 1,819,684    $ 1,838,255    $ 1,857,011    $ 1,875,955    $ 1,895,089    $ 1,914,414    $ 1,933,932    $ 1,953,645   $   1,973,556   $ 1,993,666   $ 2,013,976   $ 2,034,490   $ 2,055,209

Total State & Local TIR Available                                                            $              - $     90,112    $        97,542   $     300,191    $    850,505   $   1,284,934   $   1,879,558   $    2,194,519   $ 2,791,858    $ 3,267,015    $ 3,300,276    $ 3,333,869    $ 3,367,799    $ 3,402,068    $ 3,436,679    $ 3,471,637    $ 3,506,944   $   3,542,604   $ 3,578,621   $ 3,614,998   $ 3,651,739   $ 3,484,504

                                                             Beginning
DEVELOPER                                                     Balance
Developer Reimbursement Balance                          $     28,722,614                    $              - $    646,299    $     8,044,530   $   12,843,557   $ 15,418,969   $ 17,308,339    $ 18,943,576    $   18,608,843   $ 17,907,180   $ 16,891,872   $ 15,806,298   $ 14,646,751   $ 13,409,335   $ 12,089,958   $ 10,684,321   $ 9,187,908    $ 7,595,976   $   5,903,541   $ 4,105,369   $ 2,195,963   $   169,547   $         -




Pre-Approved Environmental Costs                         $        350,000                    $              - $    350,000    $       272,882   $     184,107
   State Tax Reimbursement                               $        165,736                    $          -     $     37,061    $        43,986   $      84,689
   Local Tax Reimbursement                               $        206,025                    $          -     $     53,051    $        53,556   $      99,418
   Interest (5%)                                         $         21,761                    $          -     $     12,994    $         8,767   $         -
   Total EGLE Reimbursement Balance                                                          $              - $    272,882    $       184,107   $           -

Local Only Costs                                         $     17,781,750                    $              - $    355,635    $     7,486,117   $   12,305,860   $ 15,155,185   $ 17,197,144    $ 19,086,514    $   18,943,576   $ 18,608,843   $ 17,907,180   $ 16,891,872   $ 15,806,298   $ 14,646,751   $ 13,409,335   $ 12,089,958   $ 10,684,321   $ 9,187,908   $   7,595,976   $ 5,903,541   $ 4,105,369   $ 2,195,963   $   169,547
   Local Tax Reimbursement                               $     28,350,853                    $          -     $        -      $             0   $       73,901   $    470,453   $    713,011    $ 1,045,013     $    1,220,868   $ 1,554,386    $ 1,819,684    $ 1,838,255    $ 1,857,011    $ 1,875,955    $ 1,895,089    $ 1,914,414    $ 1,933,932    $ 1,953,645   $   1,973,556   $ 1,993,666   $ 2,013,976   $ 2,034,490   $   169,547
   Interest (5%)                                         $     10,569,103                    $          -     $     17,782    $       374,306   $      611,598   $    734,237   $    824,207    $    902,075    $      886,135   $    852,723   $    804,375   $    752,681   $    697,464   $    638,540   $    575,712   $    508,777   $    437,519   $   361,713   $     281,121   $   195,494   $   104,570   $     8,074   $       -
   Total Local Only Reimbursement Balance                $     28,350,853                    $              - $    373,417    $     7,860,423   $   12,843,557   $ 15,418,969   $ 17,308,339    $ 18,943,576    $   18,608,843   $ 17,907,180   $ 16,891,872   $ 15,806,298   $ 14,646,751   $ 13,409,335   $ 12,089,958   $ 10,684,321   $ 9,187,908    $ 7,595,976   $   5,903,541   $ 4,105,369   $ 2,195,963   $   169,547   $         -

Total Annual Developer Reimbursement                     $     28,722,614                    $              - $     90,112    $        97,542   $     258,008    $    470,453   $    713,011    $   1,045,013   $    1,220,868   $ 1,554,386    $ 1,819,684    $ 1,838,255    $ 1,857,011    $ 1,875,955    $ 1,895,089    $ 1,914,414    $ 1,933,932    $ 1,953,645   $   1,973,556   $ 1,993,666   $ 2,013,976   $ 2,034,490   $   169,547



LOCAL BROWNFIELD REVOLVING FUND
LBRF Deposits *
     State Tax Capture                                   $        371,761                                                                                                                                                                                                                                                                                                                                                        $   371,761
     Local Tax Capture                                   $      8,177,685                                                                                                                                                                                                                                                                                                                                                        $ 1,885,662
     Total LBRF Capture                                  $      8,549,446
 * Up to five years of capture for LBRF Deposits after
eligible activities are reimbursed. May be taken from
Local TIR only.




Z:\2020\201515\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ Adelaide rev 4 6222021.xlsx
Table 2 - Estimate of Total Incremental Taxes Available for Reimbursement                                                                                                              2 of 2
1148 1204 West Western Avenue, Muskegon, Muskegon County, Michigan




                                                                                                                                Estimated Developer Capture           $   28,722,614
                                                                                                                                BRA Administrative Fee                $     240,500
                                                                                                                                State Brownfield Redevelopment Fund   $     234,068
                                                                                                                                Local Brownfield Revolving Fund       $    8,549,446




                                                            2043          2044          2045          2046          TOTAL
Total State Incremental Revenue                          $ 1,650,191   $ 1,666,910   $ 1,683,796   $ 1,700,850   $ 30,941,246
State Brownfield Redevelopment Fund (50% of SET)                                                                 $    234,068
State TIR Available for Reimbursement                    $ 1,650,191   $ 1,666,910   $ 1,683,796   $ 1,700,850   $ 24,005,431

Total Local Incremental Revenue                          $ 2,086,135   $ 2,107,270   $ 2,128,617   $ 2,150,177   $ 39,115,239
BRA Administrative Fee                                   $    10,000   $    10,000   $    10,000   $    10,000   $    240,500
Local TIR Available for Reimbursement                    $ 2,076,135   $ 2,097,270   $ 2,118,617   $ 2,140,177   $ 38,874,739

Total State & Local TIR Available                        $ 3,726,326   $ 3,764,180   $ 3,802,413   $ 3,841,028   $ 69,581,917


DEVELOPER
Developer Reimbursement Balance                          $         - $           - $           - $           -




Pre-Approved Environmental Costs
   State Tax Reimbursement                                                                                       $   165,736
   Local Tax Reimbursement                                                                                       $   206,025
   Interest (5%)                                                                                                 $    21,761
   Total EGLE Reimbursement Balance                                                                              $       -

Local Only Costs
   Local Tax Reimbursement                                                                                       $ 28,350,853
   Interest (5%)                                                                                                 $ 10,569,103
   Total Local Only Reimbursement Balance                                                                        $          -

Total Annual Developer Reimbursement                     $         - $           - $           - $           - $ 28,722,614



LOCAL BROWNFIELD REVOLVING FUND
LBRF Deposits *
     State Tax Capture                                                                                           $   371,761
     Local Tax Capture                                   $ 2,076,135   $ 2,097,270   $ 2,118,617   $ 2,140,177   $ 8,177,685
     Total LBRF Capture                                                                                          $ 8,549,446
 * Up to five years of capture for LBRF Deposits after
eligible activities are reimbursed. May be taken from
Local TIR only.




Z:\2020\201515\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ Adelaide rev 4 6222021.xlsx
Attachment A
Conceptual Renderings
     Attachment B
Environmental Data Tables and Map
                                                                                                                                                                                                        LEGEND

                                                                                                                                                                                                                          Approximate Property Boundary

                                                                                                                                                                                                             @
                                                                                                                                                                                                             A            Groundwater Sample Location

                                                                                                                                                                                                             H
                                                                                                                                                                                                             !            Soil Gas Sample Location

                                                                                                                                                                                                             H
                                                                                                                                                                                                             !            Soil Sample Location
                                                                                                                                                                                                          Units-
                                                                                                                                                                                                          Soil samples µg/Kg
                                                                                                                                                                                                          Groundwater samples µg/L

                                                                                                                                                                                                         Blue shading indicates a groundwater sample.
                                                                                                                                                                                                         Yellow shading indicates a soil sample.
                                                                                                                                                                                                                                                                                                      Hard copy is
                                                                                                                                                                                                                                                                                                    intended to be
                                                                                                                                                                                                                                                                                                    8.5"x11" when
                                                                                                                                                                                                                                                                                                   plotted. Scale(s)
                                                                                                                                                                                                                                                                                                     indicated and
                                                                                                                                                                                                                                                                                                 graphic quality may
                                                                                                                                                                                                                                                                                                 not be accurate for
                                                                                                                                                                                                                                                                                                    any other size.




                                                                                                                                                                                                                                                                                                          1148 & 1204 West Western Ave., Muskegon, Muskegon County MI 49441
                                                                                                                                                                                                                                                                                     Leestma Management, LLC

                                                                                                                                                                                                                                                                                                                                                                              Baseline Environmental Assessment
                                                                                                                                                          SB-07(2-3')
                                                                                                                                                           12/30/2
                                                                                                                                                   Arsenic            19,000
                                                                                                                                                   Cadmium            13,000                                               SB-04 (4-5')
                                                                                                                                                   Chromium, Total   190,000                                                12/30/20
                                                                                                                                                   Copper            430,000                                       Chromium, Total      30,000
                                                                                                                                                   Selenium              560                                       Selenium                600

                                                                                                                                                                                    TW-03
                                                                                                                                                  H SB-07
                                                                                                                                                  !                                12/30/20              H SB-04
                                                                                                                                                                                                         !
                                                                                                                                                                          Benzene                 9.7
                                                                                                                                                                          Cadmium                 7.2
                                                                                                                                                                          Chromium, Total          33
                                                                                                                                                                          Copper                 150
                                                                                                                            SB-06 (1-2')
                                                                                                                                                                          Lead                   180                           SB-03 (3-4')
                                                                                                                             12/30/20
                                                                                                                                                                          Mercury               0.65                            12/30/20
                                                                                                                    Chromium, Total      14,000
                                                                                                                                                                          Zinc                   190                   Chromium, Total      27,000
                                                                                                                    Selenium                960
                                                                                                                                                                                                                       Selenium              1,100
                                                                                                                                                   H SB-06
                                                                                                                                                   !                                        TW-03       @
                                                                                                                                                                                                        A      H SB-03
                                                                                                                                                                                                               !                                             SB-02 (4-5')
                                                                                                                                                                                                                                                              12/30/20
                                                                                                                                                                                                                                                     Arsenic                 5,900
                                                                                                                                                                                              SB-01 (4-5')                                           Cadmium                 8,100
  PLOT INFO: Z:\2020\201515\CAD\GIS\mapdoc\BEA\FIG05_ExceedanceMap.mxd Date: 1/18/2021 12:29:56 PM User: bahannah




                                                                                                                                                    H SB-05
                                                                                                                                                    !                                          12/30/20                                              Chromium, Total        24,000
                                                                                                                            SB-05(2-3')                                            Tetrachloroethene         170                                     Selenium                1,000
                                                                                                                             12/30/20                                                Chromium, Total       6,700
                                                                                                                                                                                     Selenium              1,400
                                                                                                                    Cadmium
                                                                                                                    Chromium, Total
                                                                                                                                         4,900
                                                                                                                                        49,000
                                                                                                                                                                                                                                                 H SB-02
                                                                                                                                                                                                                                                 !
                                                                                                                    Copper              76,000
                                                                                                                                                                                                          H!H SB-01
                                                                                                                    Selenium               770                                                            !
                                                                                                                                                                                                             SG-03                     H
                                                                                                                                                                                                                                       !
                                                                                                                                                                                            H
                                                                                                                                                                                            !                                              SG-04
                                                                                                                                                                                                SG-01
                                                                                                                                                                        TW-01   @
                                                                                                                                                                                A


                                                                                                                                                                                    H
                                                                                                                                                                                    !
                                                                                                                                                                                        SG-02
                                                                                                                                                                     TW-02     @
                                                                                                                                                                               A




                                                                                                                                                                                                                                                                                                 PROJECT NO.
                                                                                                                                                                                                                                                                                                       201515
                                                                                                                                                                             SAMPLE             EXCEEDANCE
                                                                                                                                                                              Source: Esri, Maxar,                                 MAP
                                                                                                                                                                                                   GeoEye, Earthstar Geographics, CNES/Airbus
                                                                                                                                                                              DS, USDA, USGS, AeroGRID, IGN, and the GIS User Community,                                                           FIGURE NO.


                                                                                                                                                                                                                                                                                                                           4
                                                                                                                                                                                Esri, HERE, Garmin,  (c) OpenStreetMap contributors, Esri, HERE,
                                                                                                                                                                                                  FEET
                                                                                                                                                        NORTH 0                 Garmin,
                                                                                                                                                                                      150(c) OpenStreetMap
                                                                                                                                                                                                300         contributors, and the GIS user
                                                                                                                                                                                community
©Copyright 2021 All Rights Reserved
                                                                                                                                                                                                                                                                                                                                                                                                Fishbeck | 1 of 1
Table 1 - Soil Data Summary
Baseline Environmental Assessment
Leestma Management, LLC, 1148 & 1204 West Western Ave., Muskegon, Muskegon County, MI
December 2020
Sample Location:                                             SB-01         SB-01         SB-02                               SB-03            SB-04            SB-05             SB-06            SB-07              FB-01
                                                                                                                                                                                                                                    Statewide                                                                                     Finite VSIC      Finite VSIC
Depth Interval (ft):                                          (4-5)         (4-5)         (4-5)                               (3-4)            (4-5)            (2-3)             (1-2)            (2-3)                                           Drinking Water                          Soil Volatilization to   Infinite                                      Particulate          Direct        Soil Saturation
                                                                                                                                                                                                                                     Default                                GSIP                                                 for 5 Meter      for 2 Meter
Investigative/Field Duplicate/QC:                         Investigative  Duplicate    Investigative                       Investigative    Investigative    Investigative     Investigative    Investigative          QC                             Protection                           Indoor Air Inhalation     Source                                       Soil Inhalation      Contact        Concentration
                                                                                                                                                                                                                                   Background                            Criteria   (1)                                             Source           Source
Laboratory ID:                                             20L0979-01   20L0979-02     20L0979-03                          20L0979-04       20L0979-05       20L0979-06        20L0979-07       20L0979-08        20L0979-09                          Criteria (1)                              Criteria (1)         VSIC (1)                                      Criteria (1)      Criteria (1)         SL (1)
                                                                                                                                                                                                                                     Levels (1)                                                                                  Thickness (1)   Thickness (1)
Collection Date:                                            12/30/20     12/30/20       12/30/20                            12/30/20         12/30/20         12/30/20          12/30/20         12/30/20          12/30/20
Volatile Organic Compounds                CAS Number
Tetrachloroethene                            127-18-4          170           150             58 U                                57 U             50 U             50 U              61 U              50 U             50 U            NA                100             1,200 (X)              11,000             1.70E+05       4.80E+05        1.10E+06         2.70E+09       2.00E+05 (C)          88,000
Polynuclear Aromatic Compounds            CAS Number
Benzo(a)pyrene                               50-32-8           330 U         330 U         350                                  330 UJ           330 U            330 U            330 UJ            430                 --             NA                NLL                NLL                   NLV                NLV            NLV              NLV           1.50E+06           2,000               NA
Benzo(b)fluoranthene                         205-99-2          330 U         400           550                                  330 UJ           330 U            330 U            330 UJ            520                 --             NA                NLL                NLL                    ID                 ID             ID               ID              ID              20,000              NA
Metals, Total                             CAS Number
Arsenic (B)                                 7440-38-2        4,000 J       3,600         5,900                               2,000 U          3,500            4,900            2,000 U           19,000                  --          5,800              4,600              4,600                 NLV                 NLV            NLV             NLV            7.20E+05           7,600               NA
Barium (B)                                  7440-39-3       15,000       18,000         10,000                              15,000           23,000           16,000           11,000            100,000                  --         75,000            1.30E+06         4.40E+05 (G)              NLV                 NLV            NLV             NLV            3.30E+08         3.70E+07              NA
Cadmium (B)                                 7440-43-9        1,700         1,600         8,100                               2,400            3,600            4,900              720             13,000                  --          1,200              6,000           3,600 (G,X)              NLV                 NLV            NLV             NLV            1.70E+06         5.50E+05              NA
Chromium, Total (B, H)                      7440-47-3        6,700        5,900         24,000                              27,000           30,000           49,000           14,000            190,000                  --      18,000 (total)        30,000              3,300                 NLV                 NLV            NLV             NLV            2.60E+05         2.50E+06              NA
Copper (B)                                  7440-50-8       38,000 J     20,000         34,000                              34,000           53,000           76,000           12,000            430,000                  --         32,000            5.80E+06          75,000 (G)               NLV                 NLV            NLV             NLV            1.30E+08         2.00E+07              NA
Lead (B)                                    7439-92-1       22,000       20,000         34,000                              27,000           19,000           20,000           12,000             66,000                  --         21,000            7.00E+05        5.10E+06 (G,X)             NLV                 NLV            NLV             NLV            1.00E+08         4.00E+05              NA
Mercury (Total) (B)                         7439-97-6            50 U          50 U          50 U                               57               50 U             64               50 U               50 U                --           130               1,700           50 (M); 1.2             48,000              52,000         52,000          52,000          2.00E+07         1.60E+05              NA
Selenium (B)                                7782-49-2        1,400         1,400         1,000                               1,100              600              770              960               560                   --           410               4,000               400                  NLV                 NLV            NLV             NLV            1.30E+08         2.60E+06              NA
Silver (B)                                  7440-22-4          490 U         470 U         490 U                               490 U            490 U            460 U            470 U              430 U                --          1,000              4,500           100 (M); 27              NLV                 NLV            NLV             NLV            6.70E+06         2.50E+06              NA
Zinc (B)                                    7440-66-6       15,000       14,000         23,000                              47,000           40,000           62,000           33,000             74,000                  --         47,000            2.40E+06         1.70E+05 (G)              NLV                 NLV            NLV             NLV               ID            1.70E+08              NA
Solids, Total (%)                               --              90            91            88                                  89               89               90               87                 92                 --             --                 --                 --                   --                  --             --              --                --               --                --
Results expressed in µg/Kg dry weight (except for FB-01, which is µg/Kg wet weight).
Bolded values exceed Statewide Default Background Level and an applicable criterion or screening level.
Italicized values are below Statewide Default Background Level but exceed an applicable criterion or screening level.
Underlined parameters are classified as Polynuclear Aromatic Compounds.
Data Qualifiers:
J      Estimated value
U      Not detected
Footnotes/Abbreviations:
(1)
    Part 201 Residential Soil Generic Cleanup Criteria and Screening Levels/Part 213 Risk-based Screening Levels, December 30, 2013 (GSI Criteria Updated June 25, 2018).
(2)
    EGLE Volatilization to Indoor Air Pathway Screening Levels, September 4, 2020.
(B)       Background, as defined in R 299.5701(b), may be substituted if higher than the calculated criterion.
(C)       Value is screening level based on the chemical-specific generic soil saturation concentration (Csat).
(G)       Criterion dependent on receiving surface water (SW) hardness; calculated criteria based on water hardness of 150 mg/L.
(H)       Data provided for total chromium only; evaluated against hexavalent chromium criteria.
(J)       Hazardous substance may be present in several isomer forms. Isomer-specific concentrations must be added together for comparison to criteria.
(JT)      Hazardous substance may be present in several isomer forms. The VIAP SL may be used for the individual isomer provided that it is the sole isomer detected; however, when multiple isomers are detected in a medium, the isomer-specific concentrations must be added together and compared to the most restrictive VIAP SL of the detected isomers.
(M)       Calculated criterion is below the target detection limit (TDL); first number is the criterion (TDL), the second is the risk-based value.
(M*) The VIAP SL may be below TDL. In accordance with Sec. 20120a(10) when the TDL for a hazardous substance is greater than the developed VIAP SL, the TDL is used to evaluate the risk posed from the pathway.
(W)       Concentrations of trihalomethanes must be added together to determine compliance with criterion.
(X)       Criterion is not protective for SW used as a drinking water (DW) source.
(DD) Hazardous substance causes developmental effects. Residential VIAP SLs are protective of both prenatal exposure using a pregnant female receptor and postnatal exposure using a child receptor. Prenatal developmental effects may occur after an acute (i.e. short- term) or full-term exposure.
(EE)      The acceptable air concentration (AAC) for the volatile hazardous substances is not derived using standard equations. The hazardous substance may cause adverse human health effects for less than chronic exposures (i.e. short-term or acute). The AAC for these hazardous substances is the acute or intermediate minimum risk level (MRL) developed by the Agency for Toxic Substances and Disease
          Registry (ATSDR), a USEPA Integrated Risk Information System (IRIS) acute reference concentration, or an acute initial threshold screening level (ITSL) by the EGLE’s Air Quality Division.
(MM) Hazardous substance is a carcinogen with a mutagenic mode of action. The cancer potency values used in calculating VIAP SLs are modified using age-dependent adjustment factors for those carcinogenic chemicals identified as mutagenic.
DATA Insufficient physical chemical parameters to calculate a VIAP SL for specified media. If detections are present in specified media, health-based soil vapor value should be used to evaluate risk.
GSIP groundwater surface water interface protection
ID        Insufficient data to develop criterion.
NA        not available
NLL       Not likely to leach under most soil conditions.
NLV       Not likely to volatilize under most conditions.
SL        screening level
VIAP volatilization to indoor air pathway
VSIC volatile soil inhalation criteria




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                                                                                                                                                                                                                                                                                                         Fishbeck | 1 of 1
Table 2 - Groundwater Data Summary
Baseline Environmental Assessment
Leestma Management, LLC, 1148 & 1204 West Western Ave., Muskegon, Muskegon County, MI
December 2020
Monitoring Location:                                         TW-01         TW-02                             TW-03           TW-03              TB-01
                                                                                                                                                                                                            Residential                              Flammability
Field Duplicate:                                                                                                            Duplicate                           Residential                GSI                                      Water
                                                                                                                                                                           (1)                     (1)     Groundwater                        (1)   and Explosivity
Laboratory ID:                                             20L0979-10   20L0979-11                        20L0979-12       20L0979-14        20L0979-15           DWC                   Criteria                       (1)       Solubility                   (1)
                                                                                                                                                                                                               VIAIC                                     SL
Collection Date:                                            12/30/20     12/30/20                          12/30/20         12/30/20          12/30/20
Volatile Organic Compounds                CAS Number
Benzene                                      71-43-2              1U           1U                               9.7              9.9                 1U              5.0                 200 (X)                5,600             1.75E+06              68,000
Polychlorinated Biphenyls                 CAS Number
Total PCBs (J)                              1336-36-3           0.2 U        0.2 U                              0.2 UJ           0.2 UJ             --              0.50           0.20 (M); 2.60E-05           45 (S)               44.7                  ID
Metals, Total                              CAS Number
Arsenic (B)                                 7440-38-2             5U           5U                              7.7                7.9               --                10                   10                    NLV                  NA                   ID
Barium (B)                                  7440-39-3          100 U         100 U                             220               240                --              2,000                670 (G)                 NLV                  NA                   ID
Cadmium (B)                                 7440-43-9             1U           1U                              7.2               7.3                --               5.0                3.0 (G,X)                NLV                  NA                   ID
Chromium, Total (B, H)                      7440-47-3            10 U         10 U                              33                34                --               100                   11                    NLV                  NA                   ID
Copper (B)                                  7440-50-8             5U           5U                             150               150                 --            1,000 (E)               13 (G)                 NLV                  NA                   ID
Lead (B)                                    7439-92-1             3U           3U                             180               180                 --             4.0 (L)              34 (G,X)                 NLV                  NA                   ID
Mercury (B)                                 7439-97-6           0.2 U        0.2 U                            0.65              0.61                --               2.0                 0.0013                 56 (S)                56                   ID
Selenium (B)                                7782-49-2             5U           5U                                5U                 5U              --                50                   5.0                   NLV                  NA                   ID
Silver (B)                                  7440-22-4             1U           1U                                1U                 1U              --                34             0.20 (M); 0.060             NLV                  NA                   ID
Zinc (B)                                    7440-66-6            50 U         50 U                            190               190                 --              2,400                170 (G)                 NLV                  NA                   ID
Results expressed in µg/L.
Bolded values exceed an applicable criterion and/or screening level.
Underlined compounds classified as polynuclear aromatic compounds.
Data Qualifiers:
J      Estimated value
U      Not detected above the given limit
Footnotes/Abbreviations:
(1)
    Part 201 Groundwater Generic Cleanup Criteria/Part 213 Tier 1 Risk-based Screening Levels, January 10, 2018 (GSI Criteria Updated June 25, 2018).
(2)
    EGLE Volatilization to Indoor Air Pathway Screening Levels, September 4, 2020.
(B)       Background, as defined in R 299.5701(b), may be substituted if higher than the calculated criterion.
(E)       Aesthetic drinking water (DW) value. Notice of aesthetic impact may be employed as an institutional control if concentration exceeds the aesthetic DWC but not the health-based DW value.
(G)       Criterion dependent on receiving surface water (SW) hardness; calculated criteria based on water hardness of 150 mg/L.
(H)       Data provided for total Chromium only; compare to hexavalent Chromium criteria.
(J)       Substance present in several isomer forms; isomer concentrations must be added together for comparison to criteria.
(JT)      Substance present in several isomer forms. The VIAP SL may be used for the individual isomer provided that it is sole isomer detected; however, when multiple isomers are detected in a medium,
(L)       Concentrations up to the State action level of 15 µg/L may still allow for DW use if soil concentrations are below 400 mg/Kg.
(M)       Calculated criterion is below the target detection limit (TDL); first number is the criterion (TDL), the second is the risk-based value.
(M*) The VIAP SL may be below target detection limits (TDL). In accordance with Sec. 20120a(10) when the TDL for a hazardous substance is greater than the developed VIAP SL, the TDL is used to
(S)       Criterion defaults to the hazardous substance-specific water solubility limit.
(W)       Concentrations of trihalomethanes must be added together to determine compliance with the DWC.
(X)       Criterion is not protective for SW used as a DW source.
(AA)      Use 10,000 µg/L where GW enters a structure through the use of a water well, sump or other device. Use 28,000 µg/L for all other uses.
(CC)      Insufficient chemical-physical input parameters have been identified to allow the development of a VIAP SL using standard equations. The VIAP SL for GW is developed based solely on the approach that the department uses for shallow GW. If GW detections
          are present, soil vapor may be the most appropriate media to evaluate risk.
(DD) Hazardous substance causes developmental effects. Residential VIAP SLs are protective of both prenatal exposure using a pregnant female receptor and postnatal exposure using a child receptor. Prenatal developmental effects may occur after an acute (i.e. short- term) or full-term exposure.
(EE*) The acceptable air concentration (AAC) for the volatile hazardous substance is not derived using standard equations. The hazardous substance may cause adverse human health effects for less than chronic exposures (i.e. short-term or acute). The AAC for this
          hazardous substance is the acute or intermediate minimum risk level (MRL) developed by the Agency for Toxic Substances and Disease Registry (ATSDR), a USEPA Integrated Risk Information System (IRIS) acute reference concentration, or an acute initial
(FF*) The AAC for the volatile hazardous substances are based on toxicity values that have been identified to have the potential to cause adverse human health effects for less than chronic exposures (i.e. short-term or acute). The short-term exposure for shallow
          groundwater VIAP SLs are based on modification of the standard equations by the department to develop applicable shallow groundwater VIAP SLs.
(MM) Hazardous substance is a carcinogen with a mutagenic mode of action. The cancer potency values used in calculating VIAP SLs are modified using age-dependent adjustment factors for those carcinogenic chemicals identified as mutagenic.
DWC drinking water criterion
GSI       groundwater surface water interface
ID        Insufficient data to develop criterion.
NA        not available
NLV       Not likely to volatilize under most conditions.
SL        screening level
TX        The Remediation and Redevelopment Division Toxicology Unit has not identified an inhalation toxicity value for the hazardous substance at the date of publication of these values.
VIAIC volatilization to indoor air inhalation criteria
VIAP volatilization to indoor air pathway




\\ftch\allprojects\2020\201515\WORK\Rept\BEA\TBL02_DataSummary-GW-Res_2021_0114.xlsx                                                                                                                                                                                                                           1/19/2021
         Attachment C
Resolutions Approving the Brownfield Plan
              Amendment
 Attachment D
Reimbursement Agreement
             DDA BUDGET WORKSHEET FOR FY 2020-21




                                                                                                     FY2020-21 BUDGET          FY2020-21 ACTUAL
Revenues                                          FY2018-19 ACTUAL       FY 2019-20 -ACTUAL              AMENDED                  May 31, 2021
Tax Increment                                     $    1,069,486.00     $          924,457.00    $           490,931.00    $           490,931.00
Reimbursement - State                                                   $                 -      $                  -      $                  -
Event Revenue*                                                                                   $            96,200.00    $            68,607.00
Trans From General Fund                                                 $                 -      $                  -      $                  -
Interest Income                                   $            521.63   $              263.00    $               100.00    $                 5.00
Fundraising Revenue**                                                   $            2,000.00    $            75,000.00    $            31,150.00
BID Income (or $50,000 levy)**                                          $          132,432.45    $           112,653.00    $            50,000.00
TIFA                                                                    $                 -      $                  -      $                  -
Former Mall Brownfield Income (GF)                                      $                 -      $                  -      $                  -
Total                                             $     1,070,007.63    $        1,059,152.45    $           774,884.00    $           640,693.00

Expenses                                          FY2018-19 ACTUAL            FY 2019-20                FY 2020-21                FY 2020-21
Business Dev. Manager Wages                                             $           71,924.00    $            73,781.00    $            64,597.00
Trans to GF - Marketing, Events, Overhead                               $                 -      $                   -     $                   -
FICA (7.65%)                                                            $            5,457.00    $              5,848.00   $              5,165.00
Workers Comp (2%)                                                       $              394.00    $                410.00   $                392.00
Insurance                                                               $            1,728.00    $              7,748.00   $              4,371.00
Residency Bonus (4%)                                                    $                 -      $              2,743.00   $                   -
Life Insurance (0.24%)                                                  $              269.00    $                270.00   $                276.00
401(k) (6%)                                                             $            7,853.00    $              8,000.00   $              6,252.00
Total Salaries/Benefits                                                 $           87,625.00    $            98,800.00    $            81,053.00
Walkability Improvements                                                $                 -      $                   -     $                   -
Streetscape/Wayfinding / Walkability                                    $                 -      $                   -     $                   -
Public Art (Downtown Initiative)                                        $                 -      $                   -     $                   -
Landscaping                                                             $           50,000.00    $            30,000.00    $              3,000.00
Snow Removal                                                            $           62,629.00    $            65,000.00    $                   -
Façade Program                                                          $                 -      $                   -     $                   -
Financial Incentives                                                    $                 -      $                   -     $                   -
Downtown Park(s)****                                                    $            5,759.00    $              9,000.00   $              3,406.00
Marketing/Promotions                              $          5,000.00   $                 -      $            25,000.00    $              5,492.00
Blight                                                                  $                 -      $                   -     $                   -
Office Space and Misc Operating                   $         5,930.11    $           17,005.00    $            17,000.00    $              9,383.00
Total Recurring Costs                             $        10,930.11    $          135,393.00    $           146,000.00    $            21,281.00
LC Walker Phase 1                                 $       750,000.00    $                 -      $                   -     $                   -
LC Walker Phase 1a                                $       250,000.00    $                 -      $                   -     $                   -
Morris Street Lot                                                       $           20,000.00    $                   -     $                   -
Taste of Muskegon                                                       $                 -      $              2,600.00   $              2,192.00
Lakeshore Art Festival                                                                           $           159,279.00    $            30,626.00
Projects and Events                               $     1,000,000.00    $           20,000.00    $           161,879.00    $            32,818.00
County Debt Payments ($1M)                                              $          865,928.00    $           134,073.00    $                   -
LC Walker HVAC/Roof*******                                              $                 -      $           208,051.00    $           208,051.00
Other Debt Payments (smartzone)                                         $                 -      $                   -     $                   -
Total Debt Payments                                                     $          865,928.00    $           342,124.00    $           208,051.00
Total Expenses                                    $     1,010,930.11    $        1,108,946.00    $           748,803.00    $           343,203.00

Net Rev/Expenses                                  $        59,077.52    $          (49,793.55) $              26,081.00    $           297,490.00

Cumulative Cash Reserves                          $        59,077.52    $            9,283.97    $            35,364.97    $           332,854.97

*Event Revenue $65,550 Taste of Muskegon and $96,200 Lakeshore Art Festival
**Fundraising Revenue - Taste of Muskegon $12,000, Cookie Crawl $5,000 and Lakeshore Art Festival $70,000
**** DDA Maintains Splash Pad and Dog Park
*******10-year debt contribution at $215,000/yr for 10 years related to new roofing, dehumidification, and boiler at LC




            O:\Planning\COMMON\DDA - BRA\Brownfield - Adelaide Pointe (2021)\BRA docs\BRA attachments\DDA financials 5-31-21

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