GRAND HAVEN, Mich. — The plan to renovate the Floto's building in downtown Grand Haven is moving forward after the City Council approved a revised proposal on Monday.
WATCH: City Council approves revised plan to renovate the downtown Floto's building
After being sent back to the drawing board due to concerns over tax breaks in the original plan, the developer and property owners presented a new plea to the Council. The approved first step will bring new apartments and a beach-themed seafood restaurant to Grand Haven's Main Street.
The new plan will still cost $2 million, however, the developer proposed a new way to pay for the project.
They removed one of the tax breaks and shortened the length of the other. The developer is requesting a Brownfield Tax Increment Financing (TIF) which would freeze taxes on the property at their current rate. Originally requesting a tax break for 25 years, the developer has shortened the duration to 19 years, totaling $589,800.
The developer is also planning on applying for a $250,000 grant from the Michigan Economic Development Corporation.
Grand Haven Main Street DDA Director Chandi Pape said she is excited to see progress on a vacant building, and said she's glad that the property owners were able to work with the city to come up with a better incentive package.
"I'm happy to be apart of a group of people that collaborate to work together," Pape said.
The project fulfills Grand Haven Main Street's market report, which showed the downtown area needs more food options and reasons to make people stick around.
Across the street at Great Harvest Bread Co., manager Zach McCabe said more business at the Floto's building means more business for him.
"Anything that goes in there I’m excited for, especially if it has to do with food," McCabe said.
