Focus:HOPE $4.9M tax capture to fund retail, education and park development

Focus: HOPE has been awarded a tax capture estimated at $4.9 million over the next 17 years by the Michigan Economic Growth Authority (MEGA) and the City of Detroit.

Kathy Moran, the organization’s communications manager, explains that the actual value of a tax capture is based on the increase in property taxes resulting from new development in the area. “It could be $1.2 million or with some good luck, it could become over $5 million.”

Focus: HOPE has plans to rejuvenate the entire neighborhood surrounding its Oakman Blvd. headquarters; the area was recently designated as a State of Michigan Cool Cities neighborhood. The organization plans to use the funds for the general betterment of the area, including the demolition of vacant houses and infrastructure improvements. Moran says the tax capture will “give us some seed money to get going.”

Specific aspects of the general plan for the area include a recently-completed senior housing complex  and the development of a park at the corner of Oakman Blvd. and Woodrow Wilson. Moran envisions the park to be a place where children from the Focus: HOPE day care center interact with residents of the senior complex, films are screened and music concerts held.

Focus: HOPE estimates the redevelopment of the neighboring Michigan Bell building (pictured) will cost $38 million and are currently in search of a private developer to take on the task. Moran believes that part of the tax capture money could be used for predevelopment activities on the 11-story Bell building such as asbestos and lead paint removal.

Source: Kathy Moran, Focus: HOPE