Marquette Township board approves 10-year TIF to advance 48-unit housing project
A township board voted at a special Friday afternoon meeting to approve a 10-year Tax Increment Financing (TIF) package intended to move a planned 48-unit housing development closer to construction. The plan calls for the units to be built within about two years, but county approval and several final agreements remain before work can begin.
What the board approved and what it means
The board approved a financing arrangement that will divert the typical property tax revenues from the new development for roughly ten years. That diversion is meant to lower up-front costs for the developer and support building homes now rather than later. Township leadership signaled concern about giving up tax income while also acknowledging the potential for new housing supply in the community.
Developer status and timeline
A developer who has been involved in discussions for years is expected to transfer ownership to a local homebuilder in early September, subject to final approvals. The homebuilder recently became the active partner in the plan after extended talks involving previous interested firms. The homebuilder said the project is set to close at the start of September and emphasized ongoing efforts to secure state housing funds.
Still a few steps before construction
The board-level TIF approval is an important step but not the final one. County-level signoff is required before the financing plan is fully in place, and several township agreements still must be finalized in the coming weeks. Local housing officials stressed that the financing tool, combined with other incentives and grants, will be needed to keep construction costs manageable and to make new home prices more affordable for buyers.
Why the financing approach matters locally
A county housing specialist described the prospect of 48 new, brand-new units as a significant development for the county, noting that construction costs have increased sharply in recent years. The specialist said this financing approach can help keep costs down for builders and future homeowners when used alongside other funding sources.
How this follows earlier stalled talks
The approved action follows more than two years of discussions between township leaders and an earlier developer over the sale of a roughly five-acre parcel for a 48-unit community. That earlier plan originally included a proposed 30-year TIF that would have routed tax revenue from the development toward the developer’s purchase obligations rather than to township services. A subsequent 10-year TIF proposal presented at a regular meeting would have limited workforce-designated homes to about 13 of the 48 units. That motion failed in a 5-2 vote at a regular board meeting, effectively halting the earlier proposal and putting the land back up for potential sale.
Board concerns and balancing priorities
Township officials said they were deeply conflicted about giving up tax revenue for a long period, noting an obligation to steward township finances for current and future residents. Those concerns were central to rejecting the previous, longer TIF proposal, which was viewed as committing future boards and budgets to a long-term revenue diversion. The recently approved 10-year plan reflects a compromise that moves the project forward while shortening the period of diverted tax revenues.
Next steps and community impact
With the board-level vote completed, county approval and finalized agreements are the next major milestones. If those approvals arrive and additional funding sources fall into place, building could begin on the 48 units over the next two years. Local housing leaders say the additional units would be an important step toward increasing housing supply in the area and could relieve pressure from rising construction and purchase costs if managed with complementary grants and incentives.
Multimedia note
A livestream of the special meeting was made available during coverage; recorded clips of the meeting will be posted when they are prepared for on-demand viewing.