 |
Edison Landing is one of the eleven SmartZones in Michigan.
SmartZones are designated areas that meet certified technology
park criteria and have the ability to use tax increment financing
to support the development of high-tech infrastructure, such
as business incubators and research centers. SmartZones are
being marketed throughout the country as premiere locations
for technology-based business.
Participation in Edison Landing is supported
by the aggressive use of business development incentives.
Each site within the SmartZone is qualified to be classified
as a “Brownfield,” which translates into a time-limited
opportunity to receive a Single Business Tax credit equal
to 10% of the purchaser’s eligible investment at the
site. Commercial businesses locating within this Enterprise
Community Zone before the end of 2004 are eligible to receive
a substantial five-year tax abatement. In addition, Michigan
law provides for 12-year, 50% property tax abatements
for certain high-tech research and development, offices and
engineering buildings located with-in the SmartZone. Finally,
because of the City’s status as an Enterprise Community,
commercial construction projects of up to $3 million may
be financed with tax-exempt revenue bonds. As part of a Local
Development Finance Authority, nearly all of the property
tax revenue generated from the SmartZone must be utilized
on the site.
The Edison Landing SmartZone on Muskegon Lake is a
Planned Unit Development (or PUD). This more flexible zoning
classification allows for a variety of residential, commercial
and retail uses of the land. So long as the proposed development
of a site is substantially consistent with the use, building
size and location described in the PUD, individual developers
will not be required to go through the time-consuming public
hearing process.
The Edison Landing Master Plan shows this plan
in detail.
| SITE DEVELOPMENT DATA |
|
| Site Area: |
34.2 acres |
| Zoning: |
Planned Unit Development |
| Setbacks: |
As shown on the site plan |
| Building Footprint Area: |
197,608 sq. feet |
| Gross Floor Area: |
510,648 sq. feet |
| Office Space: |
211,000 sq. feet |
| Retail Space: |
71,500 sq. feet |
| Residential Units: |
At least 108 condominium units |
| Transient Slips: |
58 |
|
