89.1 WEMU

Ypsilanti Approves New Water Street Agreement With Riverwalk Commons Developers

May 11, 2016

Credit WEMU

Ypsilanti City Council voted in favor of a new tax and purchase agreement with developers of the Riverwalk Commons.

 

Ypsilanti City Council approved an agreement to accept a percentage of rent collected from future Riverwalk Commons tenants in lieu of property taxes from the development on the Water Street property. The PILOT agreement would begin twelve years after the developmentally is built.

Council members also voted in favor of funding additional soil tests for contamination at the site.

Ypsilanti Community Development Director Beth Ernat says she understands the community’s frustration with the progress of the Water Street Project.

 

She says,

“I’ve had quite a few conversations around town and the majority of people I speak with understand that [although] they’re frustrated with the long term nature of this project...at the end of the day they’d rather see what’s there now than what used to be there.”

Ernat says additional soil tests will allow the city to determine a new plan to remediate contamination at the Water Street Redevelopment Project.

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— Amanda LeClaire is a reporter for 89.1 WEMU News.  Contact her at 734.487.3363 or email her aleclair@emich.edu