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CITY OF MUSKEGON DOWNTOWN DEVELOPMENT AUTHORITY (“DDA”) REGULAR MEETING DATE OF MEETING: Tuesday, Nov. 9, 2021 TIME OF MEETING: 10:30 A.M. PLACE OF MEETING: City Hall Commission Chambers, 933 Terrace, Muskegon, MI ______________________________________________________________________________ AGENDA I. Roll Call II. Approval of the regular meeting minutes of October 12, 2021 III. Brownfield Redevelopment Authority business A. Development & Reimbursement Agreement – Viridian Shores at Harbor 31 Redevelopment Project (Pete Wills-Jake Eckholm) B. Development & Reimbursement Agreement – Trilogy Senior Housing Redevelopment Project (Pete Wills-Jake Eckholm) C. Development & Reimbursement Agreement – Adelaide Pointe Project (Pete Wills-Jake Eckholm) IV. Downtown Development Authority business A. DDA financial statement (City Finance) B. Livability Ad buy (Dave Alexander) C. Events reports LAF and Taste (Ann Meisch) V. Other VI. Adjourn AMERICAN DISABILITY ACT POLICY FOR ACCESS TO OPEN MEETING OF THE CITY COMMISSION AND ANY OF ITS COMMITTEES OR SUBCOMMITTEES The City of Muskegon will provide necessary reasonable auxiliary aids and services, such as signers for the hearing impaired and audio tapes of printed materials being considered at the meeting, to individuals with disabilities who want to attend the meeting, 24- hour notice to the City of Muskegon. Individuals with disabilities requiring auxiliary aids or services should contact the City of Muskegon by writing or calling the following: Ann Marie Cummings, City Clerk at 933 Terrace Street, Muskegon, MI 49440 or by calling (231) 724-6705 or TTY/TDD: Dial 7-1-1 and request that representative dial 231-724-6705 CITY OF MUSKEGON DOWNTOWN DEVELOPMENT AUTHORITY (DDA) / BROWNFIELD REDEVELOPMENT AUTHORITY (BRA) REGULAR MEETING MINUTES October 12, 2021 The meeting was held in the City Commission Chambers. Chairperson M. Bottomley called the meeting to order at 10:34 AM and roll was taken. MEMBERS PRESENT: M. Bottomley, J. Riegler, M. Johnson Sr., J. Moore, F. Peterson, F. DePung, D. Pollock MEMBERS ABSENT: (Members excused) B. Hastings, M. Kleaveland, H. Systema, J. Wallace Jr., S. Black, D. Kalisz. STAFF PRESENT: P. Wills, Director of Strategic Initiatives; D. Alexander, Downtown Manager; J. Eckholm, Director of Economic Development/Development Services Division; K. Grant, Financial Director; J. Rabe, Assistant Finance Director; S. Pulos, Administrative Assistant, Development Services Division OTHERS PRESENT: Carla Flanders Lakeshore Festival: Ryan Leetsma, Adelaide Pointe QOZB: Roman Wilson and Kirk Perachbocher Fishbeck APPROVAL OF MINUTES Motion by M. Johnson Sr., Second by J. Moore, to approve the regular meeting minutes for July 6, 2021. BROWNFIELD REDEVELOPMENT AUTHORITY BUSINESS Brownfield Plan Amendment for Adelaide Pointe (amended): Adelaide Pointe QOZB, LLC has submitted an amended Brownfield Plan Amendment for the Adelaide Pointe Project – a 35-acre mixed use waterfront development project including winter boat storage, marina space, In/Out forklift boat storage, commercial/retail, and up to 400 housing units. Redevelopment of this former industrial site is located at 1149 and 1204 West Western Ave on the south shore of Muskegon Lake. Total private investment, not including property acquisition, is approximately $250 million. Staff Recommendation: City staff has reviewed the Adelaide Pointe Project second brownfield plan amendment and recommends approval Motion: Made by J. Riegler, supported by F. Peterson to approve the resolution for the amended Brownfield Plan Amendment for the Adelaide Pointe Project and further request staff to set a public hearing before the Muskegon City Commission to consider adoption of the plan. Roll Call Vote: M. Bottomley: Yes J. Riegler: Yes M. Johnson Sr.: Yes J. Moore: Yes F. Peterson: Yes F. DePung: Yes D. Pollock: Yes All in favor, motion passes. Trilogy Senior Housing Redevelopment Project at Harbor 31Brownfield Plan Amendment: Harbor 31 LLC has submitted a Brownfield Plan Amendment for the Trilogy Senior Housing Redevelopment Project at Harbor 31 - a senior housing development on 5 acres located at 60 Viridian Drive along the south shore of Muskegon Lake. The investment in the first phase is estimated at $15 million. Staff Recommendation: City staff has reviewed the Trilogy Senior Housing Redevelopment Project at Harbor 31 Brownfield Plan Amendment and staff recommends approval. Motion: Made by F. Peterson, supported by J. Moore to approve the resolution for the Brownfield Plan Amendment for the Trilogy Senior Housing Redevelopment Project at Harbor 31 and further request a public hearing before the Muskegon City Commission to consider adoption of the plan. Roll Call Vote: M. Bottomley: Yes J. Riegler: Yes M. Johnson Sr.: Yes J. Moore: Yes F. Peterson: Yes F. DePung: Yes D. Pollock: Yes All in favor, motion passes. DOWNTOWN DEVELOPMENT AUTHORITY BUSINESS DDA Financial report: Staff is asking the DDA board to review and accept the financial statement for Sept. 30, 2021. It is broken into three sections: DDA Budget (tax increment revenues), DDA Events (Lakeshore Art Festival and Taste of Muskegon), and the Business Improvement District. A motion to accept the financial statement as presented was made by J. Riegler, supported by D. Pollock. All in favor. DDA Budget: Staff is asking the DDA board to review and approve the Fiscal Year 2021-22 DDA budget. The budget shows revenues of $327,287 (property tax increment) and BID income of $17,000 (staff services provided). Expenses of $290,500 included: staff costs, Mercy Health Arena bond payment, streetscape/decorations, downtown parks, marketing/promotion, and office/misc. The budget shows unspent funds for 2021-22 of $36,787 and a beginning fund balance of $89,129 – of which is available this fiscal year to be spent at board discretion to meet the DDA mission and goals. A motion to accept the budget as presented was made by M. Johnson Sr., supported by D. Pollock. All in favor. Additional Sandbox Funds: Staff is asking the DDA board to increase its $4,000 authorized support for the downtown Social Sandbox to a total of $5,000. The DDA and BID each committed $4000 to the Social Sandbox, the actual costs came to $10,037 instead of $8000. Staff is asking the DDA and BID to split the overage. A motion to authorize an additional $1,018 for materials was made by M. Johnson Sr., supported by F. DePung. All in favor. Office Agreement End with Muskegon Lakeshore Chamber: Request to give notice to the Muskegon Lakeshore Chamber of Commerce to end a lease for office space in the chamber offices. Staff would like to have the DDA manager full-time at City Hall. The DDA Manager is still able to work remotely when needed. This will save $6000 yearly plus printing costs. A motion to end the office agreement with Muskegon Lakeshore Chamber was made by J. Moore, supported by F. DePung. All in favor. Marketing Services Agreement with Muskegon Lakeshore Chamber: Staff is asking the DDA board authorize an agreement with the Muskegon Lakeshore Chamber of Commerce for marketing services for downtown Muskegon. Previously paid for with unspent Downtown Muskegon Now Funds, staff would like to transfer that cost to the DDA budget within the marketing and promotion line item, maximum yearly cost would be $12,500. A motion to authorize a marketing services agreement with Muskegon Lakeshore Chamber was made by J. Riegler, supported by J. Moore. All in favor. Downtown Christmas Decorations Contract: Staff seeks authorization to enter into an agreement with Christmas Creations by Bailey to provide holiday light pole wraps in the downtown, including Terrace Street. The current quote is for $11,305, which is a 15% increase over last year’s pricing. A motion to authorize staff to sign an agreement with Christmas Creations by Bailey for light pole holiday wraps and have staff negotiate the final details with the vendor, including a couple new poles on Terrace, was made by J. Riegler, supported by J. Moore. All in favor. Events Report (Lakeshore Art Festival (LAF) and Taste of Muskegon): Carla Flanders, director of the LAF gave the group a handout with monetary totals. Total expenses were $134,269 and total income was $145,715 and total profit was $11,446. She was pleased with all the uncertainties surrounding life with COVID and unpredictable weather. She shared that the LAF received an award of one of the top 100 art festivals in the nation. 2022 Lakeshore Art Festival Management Agreement: Staff is for authorization to renew a management contract with CMF Marketing & Events to produce the 2022 Lakeshore Art Festival in downtown Muskegon. Carla Flanders with CMF has successfully produced the LAF and was contracted by the City Clerk to produce the 2021 event. A motion to approve the 2022 management agreement with CMF Marketing & Events for the Lakeshore Art Festival and direct staff to execute it was made by F. Peterson, supported by F. DePung. All in favor. PUBLIC PARTICIPATION None. OTHER None. AJOURNMENT 12:19pm Agenda Item A - BRA Muskegon Brownfield Redevelopment Authority Agenda Item for 11-9-21 Viridian Land Shores Co, LLC, 150 Viridian Drive Viridian Shores at Harbor 31 Redevelopment Project Development and Reimbursement Agreement Requesting party: Viridian Land Shores Co, LLC Outline of the request: Viridian Land Shores Co, LLC has submitted a Development and Reimbursement Agreement for the approved Brownfield Plan for Viridian Shores at Harbor 31 Redevelopment Project, a residential development on 3.5 acres located at 150 Viridian Drive along the south shore of Muskegon Lake. Background: The 3.5-acre property is the site of the former Teledyne Continental Motors industrial facility. Plans for the site include single family detached residential as well as owner- occupied townhomes. A Brownfield Plan Amendment was previously approved to facilitate the construction of 33 two-story residential condominium units (including a combination of 15 single-family free-standing homes and 18 multifamily duplex style homes). The waterfront project will create a walkable community that provides access to Muskegon Lake, greenspace areas, and downtown Muskegon. Total private investment, for this phase, not including property acquisition, is approximately $15,200,000. Staff comments: 1. The Brownfield Plan Amendment was approved by the Authority on May 11 th, 2021 and the City Commission on May 25th, 2021. 2. The Brownfield Plan is for a period of 26 years and includes Brownfield Eligible Activity costs estimated at $4,018,080. 3. The property is within the DDA and it is anticipated that all taxes captured will go towards the Brownfield TIF during the life of the Plan. 4. Eligible costs include due care, environmental response activities, demolition, asbestos abatement, site preparation, infrastructure improvements, Brownfield Plan preparation, administration costs, and interest expense (5%). 5. The Development & Reimbursement Agreement outlines the procedures for the City to reimburse the Developer for eligible expenses within the Brownfield Plan. The Authority shall pay 100% of the available Brownfield TIF Revenue to the Developer to reimburse the costs of Developer Eligible Activities. 6. The Developer will provide the BRA a request for payment of eligible expenses. The BRA has 30 days to approve the request. Payments are made on a semi-annual basis when incremental local taxes are captured and available. Staff recommendation: Staff has reviewed the Development and Reimbursement Agreement, along with the city attorney, and recommends approval. Suggested motion: I move to approve/disapprove the Development and Reimbursement Agreement for the approved Brownfield Plan for Viridian Land Shores Co, LLC (Viridian Shores at Harbor 31 Redevelopment Project). City of Muskegon Brownfield Redevelopment Authority County of Muskegon, State of Michigan RESOLUTION APPROVING BROWNFIELD DEVELOPMENT AND REIMBURSEMENT AGREEMENT Viridian Land Shores Co, LLC Viridian Shores at Harbor 31 Redevelopment Project Minutes of a meeting of the Board of the City of Muskegon Brownfield Redevelopment Authority (“Authority”), County of Muskegon, State of Michigan, held in the City Hall on the 9th of November, 2021 at 10:30 a.m., prevailing Eastern Time. PRESENT: Members _________________________________________________________ _________________________________________________________________ _________________________________________________________________ ABSENT: Members ________________________________________________________ _________________________________________________________________ The following preamble and resolution were offered by Member ________________ and supported by Member ________________: WHEREAS, the Authority approved a Brownfield Plan Amendment to include the Viridian Shores at Harbor 31 Redevelopment Project (“Project”) during its meeting on May 11, 2021; WHEREAS, the Viridian Shores at Harbor 31 Redevelopment Project Brownfield Plan Amendment includes tax increment financing to pay for certain eligible activities related to the Project; WHEREAS, a Development and Reimbursement Agreement between the City and Viridian Land Shores Co, LLC has been negotiated to provide for reimbursement of the costs of eligible activities identified in the Brownfield Plan Amendment. NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: 1. The Development and Reimbursement Agreement between the City and Viridian Land Shores Co, LLC for the Viridian Shores at Harbor 31 Redevelopment Project Brownfield Plan Amendment is necessary to facilitate the implementation of the Brownfield Plan. 2. The Authority hereby approves the Development and Reimbursement Agreement for the Viridian Shores at Harbor 31 Redevelopment Project Brownfield Plan, and recommends the approval of the Agreement by the Muskegon City Commission. 3. Repealer. All resolutions and parts of resolution in conflict with the provisions of this resolution are hereby repealed or amended to the extent of such conflict. AYES: _______________________________________________________________ _______________________________________________________________ _______________________________________________________________ NAYS: _______________________________________________________________ _______________________________________________________________ RESOLUTION DECLARED ADOPTED. _____________________________ Secretary -2- I hereby certify that the foregoing is a true and complete copy of a resolution adopted by the Board of the City of Muskegon Brownfield Redevelopment Authority, County of Muskegon, State of Michigan, at a meeting held on November 9th, 2021, and that said meeting was conducted and public notice of said meeting was given pursuant to and in full compliance with the Open Meetings Act, being Act 267, Public Acts of Michigan, 1976, and that the minutes of said meeting were kept and will be or have been made available as required by said Act. _____________________________ Secretary -3- DEVELOPMENT AND REIMBURSEMENT AGREEMENT This DEVELOPMENT AND REIMBURSEMENT AGREEMENT (the “Agreement”) is made on , , by and among the CITY OF MUSKEGON BROWNFIELD REDEVELOPMENT AUTHORITY, a Michigan public body corporate whose address is 933 Terrace Street, Muskegon, Michigan 49443 (the “Authority”), the CITY OF MUSKEGON, a public body corporate whose address is 933 Terrace Street, Muskegon, Michigan 49443 (the “City”), and Ryerson Creek Land Co., LLC, a Michigan limited liability company whose address is 2325 Belmont Center Drive NE, Belmont, Michigan 49306 (the “Developer”). RECITALS A. Pursuant to P.A. 381 of 1996, as amended (“Act 381”), the Authority approved and recommended a Brownfield Plan which was duly approved by the City (the “Plan”). The Plan was amended on (the “Amendment,” and, together with the Plan, the “Brownfield Plan” – See Exhibit A) to identify a new senior housing redevelopment project proposed by the Developer. B. The Brownfield Plan includes specific eligible activities associated with the Developer’s plan to develop approximately 5 acres of land located at 60 Viridian Drive in Muskegon, Michigan (collectively, the “Developer Property”). C. The Developer owns the Developer Property, which is included in the Brownfield Plan as an “eligible property” because it was determined to be a “facility”, as defined by Part 201 of the Natural Resources and Environmental Protection Act (“Part 201”), or adjacent and contiguous to an “eligible property.” D. The Developer intends to conduct eligible activities on the Developer Property including the construction of an approximately 63,000 square foot multi-story senior housing building with surrounding asphalt parking areas, concrete walkways and landscaping (the “Project”), including department specific environmental activities, demolition, site preparation and infrastructure improvement activities, a 15% contingency and brownfield plan/work plan preparation and development, as described in the Brownfield Plan, with an estimated cost of $4,378,740 (the “Developer Eligible Activities”). All of the Developer Eligible Activities are eligible for reimbursement under Act 381. The total cost of the Eligible Activities, including contingencies and interest, are $4,392,244 (the “Total Eligible Brownfield TIF Costs”). E. Act 381 permits the Authority to capture and use local and certain school property tax revenues generated from the incremental increase in property value of a redeveloped brownfield site constituting an “eligible property” under Act 381 (the “Brownfield TIF Revenue”) to pay or to reimburse the payment of Eligible Activities conducted on the “eligible property.” The Brownfield TIF Revenue will be used to reimburse the Developer for the Developer Eligible Activities incurred and approved for the Project. F. In accordance with Act 381, the parties desire to establish the procedure for using the available Brownfield TIF Revenue generated from the Property to reimburse the Developer for completion of Eligible Activities on the Property in an amount not to exceed the Total Eligible Brownfield TIF Costs. NOW, THERFORE, the parties agree as follows: 1. Reimbursement Source. (a) During the Term (as defined below) of this Agreement, and except as set forth in paragraph 2 below, the Authority shall reimburse the Developer for the costs of their Eligible Activities conducted on the Developer Property from the Brownfield TIF Revenue collected from the real and taxable personal property taxes on the Developer Property. The amount reimbursed to the Developer for their Eligible Activities shall not exceed the Total Eligible Brownfield TIF Costs, and reimbursements shall be made on approved costs submitted and approved in connection with the Developer Eligible Activities, as follows: (i) the Authority shall pay 100% of available Brownfield TIF Revenue to Developer to reimburse the cost of the Developer Eligible Activities submitted and approved for reimbursement by the Authority until Developer is fully reimbursed; and (b) The Authority shall capture Brownfield TIF Revenue from the Property and reimburse the Developer for their Eligible Activities until the earlier of the Developer being fully reimbursed or December 31, 2051. Unless otherwise prepaid by the Authority, payments to the Developer shall be made on a semi-annual basis as incremental local taxes are captured and available. 2. Developer Reimbursement Process. (a) The Developer shall submit to the Authority, not more frequently than on a quarterly basis, a “Request for Cost Reimbursement” for Developer Eligible Activities paid for by the Developer during the prior period. All costs for the Developer Eligible Activities must be consistent with the approved Brownfield Plan. The Developer must include documentation sufficient for the Authority to determine whether the costs incurred were for Developer Eligible Activities, including detailed invoices and proof of payment. Copies of all invoices for Developer Eligible Activities must note what Developer Eligible Activities they support. (b) Unless the Authority disputes whether such costs are for Developer Eligible Activities within thirty (30) days after receiving a Request for Cost Reimbursement from the Developer, the Authority shall pay the Developer the amounts for which submissions have been made pursuant to paragraph 2(a) of this Agreement in accordance with the priority set forth in paragraph 1, from which the submission may be wholly or partially paid from available Brownfield TIF Revenue from the Developer Property. 2 (i) The Developer shall cooperate with the Authority’s review of its Request for Cost Reimbursement by providing supplemental information and documentation which may be reasonably requested by the Authority. (ii) If the Authority determines that requested costs are ineligible for reimbursement, the Authority shall notify the Developer in writing of its reasons for such ineligibility within the Authority’s thirty (30) day period of review. The Developer shall then have thirty (30) days to provide supplemental information or documents to the Authority demonstrating that the costs are for Developer Eligible Activities and are eligible for reimbursement. (c) If a partial payment is made to the Developer by the Authority because of insufficient Brownfield TIF Revenue captured in the semi-annual period for which reimbursement is sought, the Authority shall make additional payments toward the remaining amount within thirty (30) days of its receipt of additional Brownfield TIF Revenue from the Developer Property until all of the amounts for which submissions have been made have been fully paid to the Developer, or by the end of the Term (as defined below), whichever occurs first. The Authority is not required to reimburse the Developer from any source other than Brownfield TIF Revenue. (d) The Authority shall send all payments to the Developer by registered or certified mail, addressed to the Developer at the address shown above, or by electronic funds transfer directly to the Developer’s bank account. The Developer may change its address by providing written notice sent by registered or certified mail to the Authority. 4. Term of Agreement. The Authority’s obligation to reimburse the Developer for the Total Eligible Brownfield TIF Costs incurred by each party under this Agreement shall terminate the earlier of the date when all reimbursements to the Developer required under this Agreement have been made or December 31, 2051 (the “Term”). If the Brownfield TIF Revenue ends before all of the Total Eligible Brownfield TIF Costs have been fully reimbursed to the Developer, the last reimbursement payment by the Authority shall be paid from the summer and winter tax increment revenue collected during the final year of this Agreement. 5. Adjustments. If, due to an appeal of any tax assessment or reassessment of any portion of the Developer Property, or for any other reason, the Authority is required to reimburse any Brownfield TIF Revenue to any tax levying unit of government, the Authority may deduct the amount of any such reimbursement, including interest and penalties, from any amounts due and owing to the Developer. If all amounts due to the Developer under this Agreement have been fully paid or the Authority is no longer obligated to make any further 3 payments to the Developer, the Authority shall invoice the Developer for the amount of such reimbursement and the Developer shall pay the Authority such invoiced amount within thirty (30) days of the receipt of the invoice. Amounts withheld by or invoiced and paid to the Authority by the Developer pursuant to this paragraph shall be reinstated as Developer Eligible Activities, respectively, for which the Developer shall have the opportunity to be reimbursed in accordance with the terms, conditions, and limitations of this Agreement. Nothing in this Agreement shall limit the right of the Developer to appeal any tax assessment. 6. Legislative Authorization. This Agreement is governed by and subject to the restrictions set forth in Act 381. If there is legislation enacted in the future that alters or affects the amount of Brownfield TIF Revenue subject to capture, eligible property, or Eligible Activities, then the Developer’s rights and the Authority’s obligations under this Agreement shall be modified accordingly as required by law, or by agreement of the parties. 7. Notices. All notices shall be given by registered or certified mail addressed to the parties at their respective addresses as shown above. Any party may change the address by written notice sent by registered or certified mail to the other party. 8. Assignment. This Agreement and the rights and obligations under this Agreement shall not be assigned or otherwise transferred by any party without the consent of the other party, which shall not be unreasonably withheld, provided, however, the Developer may assign their interest in this Agreement to an affiliate without the prior written consent of the Authority if such affiliate acknowledges its obligations to the Authority under this Agreement upon assignment in writing on or prior to the effective date of such assignment, provided, further, that the Developer may each make a collateral assignment of their share of the Brownfield TIF Revenue for project financing purposes. As used in this paragraph, “affiliate” means any corporation, company, partnership, limited liability company, trust, sole proprietorship or other entity or individual which (a) is owned or controlled by the Developer, (b) owns or controls the Developer or (c) is under common ownership or control with the Developer. This Agreement shall be binding upon and inure to the benefit of any successors or permitted assigns of the parties. 9. Entire Agreement. This Agreement supersedes all agreements previously made between the parties relating to the subject matter. There are no other understandings or agreements between the parties. 4 10. Non-Waiver. No delay or failure by either party to exercise any right under this Agreement, and no partial or single exercise of that right, constitutes a waiver of that or any other right, unless otherwise expressly provided herein. 11. Governing Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Michigan. 12. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. [Signature page follows] 5 The parties have executed this Agreement on the date set forth above. CITY OF MUSKEGON BROWNFIELD REDEVELOPMENT AUTHORITY By: Its: Ryerson Creek Land Co., LLC By: Its: 19886336-2 Signature Page to Development and Reimbursement Agreement City of Muskegon Brownfield Redevelopment Authority Brownfield Plan Amendment for the Viridian Shores at Harbor 31 150 Viridian Drive Muskegon, Michigan Approved by the City of Muskegon Brownfield Redevelopment Authority Approved by the City of Muskegon Board of Commissioners Prepared with the assistance of: Fishbeck 1515 Arboretum Drive SE Grand Rapids, Michigan 49546 616-464-3876 Table of Contents Fishbeck | Page i 1.0 Introduction..................................................................................................................................................1 1.1 Proposed Redevelopment and Future Use for the Eligible Property ..............................................1 1.2 Eligible Property Information ..........................................................................................................1 2.0 Information Required by Section 13(2) of the Statute .................................................................................2 2.1 Description of Costs to Be Paid for With Tax Increment Revenues.................................................2 2.2 Summary of Eligible Activities .........................................................................................................4 2.3 Estimate of Captured Taxable Value and Tax Increment Revenues ................................................4 2.4 Maximum Amount of Note or Bonded Indebtedness .....................................................................5 2.5 Duration of Brownfield Plan ............................................................................................................5 2.6 Estimated Impact of Tax Increment Financing on Revenues of Taxing Jurisdiction ........................5 2.7 Legal Description, Property Map, Statement of Qualifying Characteristics and Personal Property5 2.8 Estimates of Residents and Displacement of Individuals/Families..................................................5 2.9 Plan for Relocation of Displaced Persons ........................................................................................5 2.10 Provisions for Relocation Costs .......................................................................................................5 2.11 Strategy for Compliance with Michigan’s Relocation Assistance Law.............................................6 2.12 Other Material that the Authority or Governing Body Considers Pertinent ...................................6 List of Figures Figure 1 – Location Map Figure 2 – Site Layout Map List of Tables Table 2 – Tax Increment Revenue Capture Table 3 – Tax Increment Revenue Reimbursement Allocation List of Attachments Attachment A Brownfield Plan Amendment Resolution(s) Attachment B Conceptual Renderings Attachment C Environmental Data Tables and Map Attachment D Reimbursement Agreement May 5, 2021 Fishbeck | Page 1 1.0 Introduction The City of Muskegon Brownfield Redevelopment Authority (the “Authority” or MBRA) was established by the City of Muskegon pursuant to the Brownfield Redevelopment Financing Act, Michigan Public Act 381 of 1996, as amended (“Act 381”). The primary purpose of Act 381 is to encourage the redevelopment of eligible property by providing economic development incentives through tax increment financing for certain eligible properties. This Brownfield Plan Amendment (“Plan Amendment”) serves as an amendment to the City of Muskegon’s existing Brownfield Plan, allowing inclusion of the eligible property described in Sections 1.1 and 1.2 below. Incorporation of eligible property into the City’s Brownfield Plan permits the use of tax increment financing to reimburse Viridian Land Shores Co, LLC (“Developer”) for the cost of eligible activities required to redevelop the eligible property. See Attachment A for copies of Plan Amendment resolutions. 1.1 Proposed Redevelopment and Future Use for the Eligible Property The Developer is proposing to redevelop a portion of the former Continental Motors industrial site located at 105 Viridian Drive, Muskegon, Michigan (the “Property”). Proposed redevelopment activities include the construction of 33 two-story residential homes (including a combination of 15 single-family free-standing homes and 18 multi- family duplex style homes) with options for rooftop seating overlooking Muskegon Lake (the “Project”). The Project will create a walkable community that provides access to Muskegon Lake, greenspace areas, and downtown Muskegon. Sustainable development concepts are proposed throughout the Project including green building techniques and low-impact development stormwater management. Total private investment, not including property acquisition, is approximately $15,200,000. The development will create approximately 10-20 new jobs (office and maintenance). Project renderings are provided as Attachment B. The development is expected to start in Spring 2021 and continue through 2023. 1.2 Eligible Property Information The 3.5-acre Property is located in downtown Muskegon along the south shore of Muskegon Lake. The Property has been historically utilized for industrial purposes dated back to the 1800s. Based on a recent Phase II Environmental Site Assessment (ESA) completed in 2021 and historical environmental investigations conducted over the past 25 years, these past industrial uses have resulted in widespread contamination across the Property. Known contaminants in the soil with concentrations exceeding Michigan Department of Environment, Great Lakes, and Energy (EGLE) Part 201 Generic Residential Cleanup Criteria (GRCC) include heavy metals and volatile organic compound (VOCs). Groundwater contaminants with concentrations identified above Part 201 GRCC consist of VOCs. The Developer is not a liable party and completed a Baseline Environmental Assessment (BEA) in accordance with Part 201 of the Natural Resources and Environmental Protect Act, 1995 PA 451, as amended (NREPA). Given the known contamination, the Property is a “facility” pursuant to Part 201 of NREPA. As such, it is considered an “eligible property” as defined by the Michigan Redevelopment Financing Act, Act 381 of 1996. Maps depicting the location and layout of the Property are attached as Figures 1 and 2. Environmental data tables are provided in Attachment C. \\CORP.FTCH.COM\ALLPROJECTS\2021\210653\WORK\REPT\BROWNFIELD PLAN AMENDMENT\VIRIDIAN SHORES_BROWNFIELD PLAN AMENDMENT_2021_0504_ DRAFT.DOCX May 5, 2021 Fishbeck | Page 2 2.0 Information Required by Section 13(2) of the Statute 2.1 Description of Costs to Be Paid for With Tax Increment Revenues Act 381 provides pre-approval for certain activities that have been conducted at the Property. Additional activities require BRA approval for reimbursement from local, school operating, and state education taxes. Tax increment revenues will be used to reimburse the Developer for the following eligible activities. Tables 1a, 1b and 1c below provide an eligible activity cost summary for the Project. Table 1a-Summary of Eligible Activity Costs EGLE Eligible Activities Estimated Cost Department Specific Activities Site Assessment and BEA Activities $11,200 Due Care Planning $30,000 Documentation of Due Care Compliance $12,000 Health and Safety Plan/Soil Management Plan $3,700 EGLE Eligible Activities Sub-Total $56,900 Brownfield Plan Amendment/Act 381 Work Plan Preparation $15,000 Brownfield Plan Amendment Implementation $5,000 EGLE ELIGIBLE ACTIVITIES TOTAL COST $76,900 Table 1b-Summary of Eligible Activity Costs Local Only EGLE Eligible Activities Estimated Cost Due Care (Sub-Total) $600,000 Volatilization to Indoor Air Mitigation $360,000 Engineered Barriers $100,000 Dewatering $140,000 Response Activities (Sub-Total) $80,000 Contaminated Soil/Fill Material Removal, Disposal and Oversight $80,000 Local Only EGLE Eligible Activities Sub-Total $680,000 Contingency (15%) $102,000 Local Only EGLE ELIGIBLE ACTIVITIES TOTAL COST $782,000 Z:\2021\210653\WORK\REPT\BROWNFIELD PLAN AMENDMENT\HARBOR 31_DRAFT_BROWNFIELD PLAN AMENDMENT_2021_0430.DOCX May 5, 2021 Fishbeck | Page 3 Table 1c-Summary of Eligible Activity Costs Local Only MSF Eligible Activities Estimated Cost Demolition (Sub-Total) $40,000 Asbestos Abatement (Sub-Total) $60,000 Infrastructure Improvement (Sub-Total) $730,000 Urban Stormwater Management System $121,000 Electric $136,000 Landscaping $90,000 Utility Connection Fees $35,000 Signage $15,000 Concrete and Asphalt $191,000 Water and Sanitary Sewer Mains $142,000 Site Preparation (Sub-Total) $380,000 Clearing and Grubbing $5,000 Geotechnical Engineering & Investigation $90,000 Grading and Land Balancing $65,000 Engineered Fill Import and Placement $100,000 Temporary Erosion Control, Fencing and Security $55,000 Relocation of Utilities $65,000 Local only MSF Eligible Activities Sub-Total $1,210,000 Contingency (15%) $181,500 Brownfield Plan Amendment/Act 381 Work Plan Preparation $15,000 Brownfield Plan Amendment Implementation $6,500 Interest (5%)* $1,746,180 LOCAL ONLY MSF ELIGIBLE ACTIVITIES TOTAL COST $3,159,180 *Interest calculated yearly based on eligible activity costs accrued Total EGLE and local only MSF eligible activities costs is $4,018,080. Z:\2021\210653\WORK\REPT\BROWNFIELD PLAN AMENDMENT\HARBOR 31_DRAFT_BROWNFIELD PLAN AMENDMENT_2021_0430.DOCX May 5, 2021 Fishbeck | Page 4 2.2 Summary of Eligible Activities Eligible activities as defined by Act 381 and included in this Plan Amendment consist of the following: Pre-Approved Department Specific Activities: These activities are permitted to occur prior to Plan Amendment approval. Preparation of a Phase I ESA, BEA and due care documents are necessary to protect the new Property owner/Developer from liability for environmental contamination. Additional due care assessment and/or planning activities are anticipated, including but not limited to preparation of a soil management plan and health and safety plan. Pre-approved activities can be reimbursed from state school and local tax increment revenues. Due Care Activities: Due care activities will include implementation of vapor intrusion mitigation systems, as applicable, to prevent unacceptable exposures to potential indoor air inhalation concerns. Engineered barriers will be utilized to protect against direct contact concerns related to known contamination. During construction activities, dewatering is anticipated. Contaminated groundwater will be properly managed to comply with due care. Due care costs will include environmental consultant oversight and management. Asbestos Abatement: An asbestos wrapped pipe was identified on the property during assessment activities and will need to be properly abated prior to redevelopment activities. Demolition: Select Site demolition will be necessary to facilitate safe redevelopment and reuse of the Property. Infrastructure Improvements: Infrastructure improvements include urban stormwater management, electric utilities, landscaping, utility connection fees, signage, concrete and asphalt pavement and water and sanitary sewer main upgrades. Costs will include oversight, management, and professional fees associated with these activities. Site Preparation: Site preparation is expected to include clearing and grubbing, geotechnical engineering, grading and land-balancing, engineered fill import and placement, temporary erosion control, fencing and security and relocation of utilities. Costs will include oversight, management, and professional fees associated with these activities. Contingency: A 15% is included for all eligible activities not already completed to accommodate unexpected conditions encountered during the project. Plan Amendment and Act 381 Work Plan (if necessary) Preparation: This Plan Amendment was required for authorization of reimbursement to the Developer from tax increment revenues under Public Act 381 of 1996, as amended. An Act 381 Work Plan may be prepared in the future. Interest: 5% interest is included for all accrued and unreimbursed eligible activity on a yearly basis. 2.3 Estimate of Captured Taxable Value and Tax Increment Revenues For the purposes of this Plan Amendment, the taxable value base year is 2021. The 2021 taxable value of the eligible property is $400,000. After completion of the development, the taxable value is estimated at $7,433,369. This Plan Amendment assumes a 1.5% annual increase in the taxable value of the eligible property. Initial capture is anticipated to begin in 2025 (after the sunset of the Smart Zone tax abatement for the property). The estimated captured taxable value for the redevelopment by year and in aggregate for each taxing jurisdiction is depicted in tabular form (Table 2: Tax Increment Revenue Capture). Actual taxable values and tax increment revenues may vary year to year based on economic and market conditions, tax incentives, building additions, and property improvements, among other factors. A summary of the estimated reimbursement schedule by year and in aggregate is presented as Table 3: Tax Increment Revenue Reimbursement Allocation. Z:\2021\210653\WORK\REPT\BROWNFIELD PLAN AMENDMENT\HARBOR 31_DRAFT_BROWNFIELD PLAN AMENDMENT_2021_0430.DOCX May 5, 2021 Fishbeck | Page 5 Method of Financing and Description of Advances Made by the Municipality The cost of the eligible activities included in this Plan Amendment will be paid for by the Developer. The Developer will seek reimbursement for eligible activity costs through capture of available local and state (as applicable) tax increment revenues as permitted by Act 381. Refer to Attachment D for a copy of the Reimbursement Agreement. 2.4 Maximum Amount of Note or Bonded Indebtedness Bonds will not be issued for this Project. 2.5 Duration of Brownfield Plan Capture of tax increment revenues for Developer reimbursement is anticipated to commence in 2025 and end in 2047, a total of 26 years. This Plan Amendment assumes approximately five years of additional capture of tax increment revenues (following Developer reimbursement) for deposit into a Local Brownfield Revolving Fund, if available. 2.6 Estimated Impact of Tax Increment Financing on Revenues of Taxing Jurisdiction The estimated amount of tax increment revenues to be captured for this redevelopment from each taxing jurisdiction by year and in aggregate is presented in Tables 2 and 3. 2.7 Legal Description, Property Map, Statement of Qualifying Characteristics and Personal Property The legal description is as follows: 150 Viridian Drive CITY OF MUSKEGON LAKESHORE SMARTZONE SITE CONDOMINIUM UNIT A 3RD AMENDMENT TO MASTER DEED L4189/P164 MASTER DEED RECORDED L3505/P491 SUBJ TO ELECTRIC ESMNT L3591/P578 SBJT TO ELECTRIC ESMNT L3630/P646 SBJT TO UNDERGROUND ELECTRIC LN ESMNT L3719/P211 SBJT TO UNDERGROUND ELECTRIC LN ESMNT L3728/P997 The Property layout is depicted on Figure 2. The Property is considered an “eligible property” as defined by Act 381 because the Property is a facility pursuant to Part 201. Facility verification is included in Attachment C. New personal property added to the Property is included as part of the Eligible Property to the extent it is taxable. 2.8 Estimates of Residents and Displacement of Individuals/Families No residents or families will be displaced because of the Project. 2.9 Plan for Relocation of Displaced Persons Not applicable. 2.10 Provisions for Relocation Costs Not applicable. Z:\2021\210653\WORK\REPT\BROWNFIELD PLAN AMENDMENT\HARBOR 31_DRAFT_BROWNFIELD PLAN AMENDMENT_2021_0430.DOCX May 5, 2021 Fishbeck | Page 6 2.11 Strategy for Compliance with Michigan’s Relocation Assistance Law Not applicable. 2.12 Other Material that the Authority or Governing Body Considers Pertinent The Project will significantly improve the Muskegon Lake shoreline through revitalization of Property once used for industrial purposes. The new condominium units are part of a larger developer that will increase the City’s tax base, bring new permanent residences to the City of Muskegon, create new jobs and increase the local workforce. Z:\2021\210653\WORK\REPT\BROWNFIELD PLAN AMENDMENT\HARBOR 31_DRAFT_BROWNFIELD PLAN AMENDMENT_2021_0430.DOCX Figure 1 Location Map Muskegon East, Michigan 7.5 Minute Quadrangle Map (Published 1972; Photoinspected 1980) N SITE SCALE 1:24000 (1”=2,000’) 1 ½ 0 1 Mile CONTOUR INTERVAL 10 FEET Site Boundaries Shown are Approximate Topographic Map Figure 1 Vacant Commercial Property 150 Viridian Drive (Lot A) Muskegon, Michigan 49440 SES Project 2020-846 Figure 2 Site Layout Map Table 2 Tax Increment Revenue Capture Table 2 - Estimate of Total Incremental Taxes Available for Capture 1 of 3 Viridian Shores, Muskegon, Muskegon County, Michigan Estimated Taxable Value (TV) Increase Rate: 1.5% Plan Year 1 2 3 4 5 6 7 8 9 10 11 Calendar Year 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Base Taxable Value $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 Estimated New TV $ - $ 3,042,320 $ 5,279,880 $ 7,323,516 $ 7,433,369 $ 7,544,869 $ 7,658,042 $ 7,772,913 $ 7,889,507 $ 8,007,849 $ 8,127,967 Incremental Difference (New TV - Base TV)1 $ - $ 2,642,320 $ 4,879,880 $ 6,923,516 $ 7,033,369 $ 7,144,869 $ 7,258,042 $ 7,372,913 $ 7,489,507 $ 7,607,849 $ 7,727,967 School Capture Millage Rate State Education Tax (SET) 6.00000 $ - $ 15,854 $ 29,279 $ 41,541 $ 42,200 $ 42,869 $ 43,548 $ 44,237 $ 44,937 $ 45,647 $ 46,368 School Operating Tax 17.98380 $ - $ 47,519 $ 87,759 $ 124,511 $ 126,487 $ 128,492 $ 130,527 $ 132,593 $ 134,690 $ 136,818 $ 138,978 School Total 23.9838 $ - $ 63,373 $ 117,038 $ 166,052 $ 168,687 $ 171,361 $ 174,075 $ 176,830 $ 179,627 $ 182,465 $ 185,346 Local Capture Millage Rate County Museum 0.32200 $ - $ 851 $ 1,571 $ 2,229 $ 2,265 $ 2,301 $ 2,337 $ 2,374 $ 2,412 $ 2,450 $ 2,488 County Veterans 0.07150 $ - $ 189 $ 349 $ 495 $ 503 $ 511 $ 519 $ 527 $ 535 $ 544 $ 553 Senior Citzens Services 0.49990 $ - $ 1,321 $ 2,439 $ 3,461 $ 3,516 $ 3,572 $ 3,628 $ 3,686 $ 3,744 $ 3,803 $ 3,863 Central Dispatch 0.29999 $ - $ 793 $ 1,464 $ 2,077 $ 2,110 $ 2,143 $ 2,177 $ 2,212 $ 2,247 $ 2,282 $ 2,318 Community College 2.20340 $ - $ 5,822 $ 10,752 $ 15,255 $ 15,497 $ 15,743 $ 15,992 $ 16,245 $ 16,502 $ 16,763 $ 17,028 M.A.I.S.D 4.75410 $ - $ 12,562 $ 23,199 $ 32,915 $ 33,437 $ 33,967 $ 34,505 $ 35,052 $ 35,606 $ 36,168 $ 36,740 City Operating 10.07540 $ - $ 26,622 $ 49,167 $ 69,757 $ 70,864 $ 71,987 $ 73,128 $ 74,285 $ 75,460 $ 76,652 $ 77,862 City Sanitation 2.99790 $ - $ 7,921 $ 14,629 $ 20,756 $ 21,085 $ 21,420 $ 21,759 $ 22,103 $ 22,453 $ 22,808 $ 23,168 Hackley Library 2.39970 $ - $ 6,341 $ 11,710 $ 16,614 $ 16,878 $ 17,146 $ 17,417 $ 17,693 $ 17,973 $ 18,257 $ 18,545 MPS Sinking 0.99810 $ - $ 2,637 $ 4,871 $ 6,910 $ 7,020 $ 7,131 $ 7,244 $ 7,359 $ 7,475 $ 7,593 $ 7,713 County Operating 5.69780 $ - $ 15,055 $ 27,805 $ 39,449 $ 40,075 $ 40,710 $ 41,355 $ 42,009 $ 42,674 $ 43,348 $ 44,032 Local Total 30.3198 $ - $ 80,115 $ 147,957 $ 209,920 $ 213,250 $ 216,631 $ 220,062 $ 223,545 $ 227,080 $ 230,668 $ 234,310 Non-Capturable Millages Millage Rate Community College Debt 0.34000 $ - $ 898 $ 1,659 $ 2,354 $ 2,391 $ 2,429 $ 2,468 $ 2,507 $ 2,546 $ 2,587 $ 2,628 Hackley Debt 0.45320 $ - $ 1,197 $ 2,212 $ 3,138 $ 3,188 $ 3,238 $ 3,289 $ 3,341 $ 3,394 $ 3,448 $ 3,502 MPS Debt - 1995 3.86000 $ - $ 10,199 $ 18,836 $ 26,725 $ 27,149 $ 27,579 $ 28,016 $ 28,459 $ 28,909 $ 29,366 $ 29,830 MPS Debt - 2009 3.50000 $ - $ 9,248 $ 17,080 $ 24,232 $ 24,617 $ 25,007 $ 25,403 $ 25,805 $ 26,213 $ 26,627 $ 27,048 Total Non-Capturable Taxes 8.1532 $ - $ 21,543 $ 39,787 $ 56,449 $ 57,344 $ 58,254 $ 59,176 $ 60,113 $ 61,063 $ 62,028 $ 63,008 1 Assumes 1% annual increase for inflation Total Tax Increment Revenue (TIR) Available for Capture $ - $ 143,487 $ 264,995 $ 375,972 $ 381,937 $ 387,992 $ 394,138 $ 400,376 $ 406,707 $ 413,134 $ 419,656 Note- For the purpose of Table 2 the new taxable value is estimated based on 40% of a total overal investment of $19,000,000 divided over the three years estimated for construction of the project Z:\2021\210653\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ harbor 31 local only.xlsx Table 2 - Estimate of Total Incremental Taxes Available for Capture 2 of 3 Viridian Shores, Muskegon, Muskegon County, Michigan Estimated Taxable Value (TV) Increase Rate: Plan Year 12 13 14 15 16 17 18 19 20 21 22 Calendar Year 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 Base Taxable Value $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 Estimated New TV $ 8,249,886 $ 8,373,635 $ 8,499,239 $ 8,626,728 $ 8,756,129 $ 8,887,471 $ 9,020,783 $ 9,156,095 $ 9,293,436 $ 9,432,838 $ 9,574,330 Incremental Difference (New TV - Base TV)1 $ 7,849,886 $ 7,973,635 $ 8,099,239 $ 8,226,728 $ 8,356,129 $ 8,487,471 $ 8,620,783 $ 8,756,095 $ 8,893,436 $ 9,032,838 $ 9,174,330 School Capture Millage Rate State Education Tax (SET) 6.00000 $ 47,099 $ 47,842 $ 48,595 $ 49,360 $ 50,137 $ 50,925 $ 51,725 $ 52,537 $ 53,361 $ 54,197 $ 55,046 School Operating Tax 17.98380 $ 141,171 $ 143,396 $ 145,655 $ 147,948 $ 150,275 $ 152,637 $ 155,034 $ 157,468 $ 159,938 $ 162,445 $ 164,989 School Total 23.9838 $ 188,270 $ 191,238 $ 194,251 $ 197,308 $ 200,412 $ 203,562 $ 206,759 $ 210,004 $ 213,298 $ 216,642 $ 220,035 Local Capture Millage Rate County Museum 0.32200 $ 2,528 $ 2,568 $ 2,608 $ 2,649 $ 2,691 $ 2,733 $ 2,776 $ 2,819 $ 2,864 $ 2,909 $ 2,954 County Veterans 0.07150 $ 561 $ 570 $ 579 $ 588 $ 597 $ 607 $ 616 $ 626 $ 636 $ 646 $ 656 Senior Citzens Services 0.49990 $ 3,924 $ 3,986 $ 4,049 $ 4,113 $ 4,177 $ 4,243 $ 4,310 $ 4,377 $ 4,446 $ 4,516 $ 4,586 Central Dispatch 0.29999 $ 2,355 $ 2,392 $ 2,430 $ 2,468 $ 2,507 $ 2,546 $ 2,586 $ 2,627 $ 2,668 $ 2,710 $ 2,752 Community College 2.20340 $ 17,296 $ 17,569 $ 17,846 $ 18,127 $ 18,412 $ 18,701 $ 18,995 $ 19,293 $ 19,596 $ 19,903 $ 20,215 M.A.I.S.D 4.75410 $ 37,319 $ 37,907 $ 38,505 $ 39,111 $ 39,726 $ 40,350 $ 40,984 $ 41,627 $ 42,280 $ 42,943 $ 43,616 City Operating 10.07540 $ 79,091 $ 80,338 $ 81,603 $ 82,888 $ 84,191 $ 85,515 $ 86,858 $ 88,221 $ 89,605 $ 91,009 $ 92,435 City Sanitation 2.99790 $ 23,533 $ 23,904 $ 24,281 $ 24,663 $ 25,051 $ 25,445 $ 25,844 $ 26,250 $ 26,662 $ 27,080 $ 27,504 Hackley Library 2.39970 $ 18,837 $ 19,134 $ 19,436 $ 19,742 $ 20,052 $ 20,367 $ 20,687 $ 21,012 $ 21,342 $ 21,676 $ 22,016 MPS Sinking 0.99810 $ 7,835 $ 7,958 $ 8,084 $ 8,211 $ 8,340 $ 8,471 $ 8,604 $ 8,739 $ 8,877 $ 9,016 $ 9,157 County Operating 5.69780 $ 44,727 $ 45,432 $ 46,148 $ 46,874 $ 47,612 $ 48,360 $ 49,119 $ 49,890 $ 50,673 $ 51,467 $ 52,273 Local Total 30.3198 $ 238,007 $ 241,759 $ 245,567 $ 249,433 $ 253,356 $ 257,338 $ 261,380 $ 265,483 $ 269,647 $ 273,874 $ 278,164 Non-Capturable Millages Millage Rate Community College Debt 0.34000 $ 2,669 $ 2,711 $ 2,754 $ 2,797 $ 2,841 $ 2,886 $ 2,931 $ 2,977 $ 3,024 $ 3,071 $ 3,119 Hackley Debt 0.45320 $ 3,558 $ 3,614 $ 3,671 $ 3,728 $ 3,787 $ 3,847 $ 3,907 $ 3,968 $ 4,031 $ 4,094 $ 4,158 MPS Debt - 1995 3.86000 $ 30,301 $ 30,778 $ 31,263 $ 31,755 $ 32,255 $ 32,762 $ 33,276 $ 33,799 $ 34,329 $ 34,867 $ 35,413 MPS Debt - 2009 3.50000 $ 27,475 $ 27,908 $ 28,347 $ 28,794 $ 29,246 $ 29,706 $ 30,173 $ 30,646 $ 31,127 $ 31,615 $ 32,110 Total Non-Capturable Taxes 8.1532 $ 64,002 $ 65,011 $ 66,035 $ 67,074 $ 68,129 $ 69,200 $ 70,287 $ 71,390 $ 72,510 $ 73,647 $ 74,800 1 Assumes 1% annual increase for inflation Total Tax Increment Revenue (TIR) Available for Capture $ 426,277 $ 432,997 $ 439,818 $ 446,741 $ 453,768 $ 460,900 $ 468,139 $ 475,487 $ 482,946 $ 490,516 $ 498,199 Note- For the purpose of Table 2 the new taxable value is estimated stimatedbased basedon on40% 40%ofofaatotal totaloveral overalinvestment investmentofof$19,000,000 $19,000,000divided dividedover overthe thethree threeyears yearsestimated estimatedfor forconstruction constructionofofthe theproject project Z:\2021\210653\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ harbor 31 local only.xlsx Table 2 - Estimate of Total Incremental Taxes Available for Capture 3 of 3 Viridian Shores, Muskegon, Muskegon County, Michigan Estimated Taxable Value (TV) Increase Rate: Plan Year 23 24 25 26 27 TOTAL Calendar Year 2043 2044 2045 2046 2047 Base Taxable Value $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ - Estimated New TV $ 9,717,945 $ 9,863,714 $ 10,011,670 $ 10,161,845 $ 10,314,273 $ - Incremental Difference (New TV - Base TV)1 $ 9,317,945 $ 9,463,714 $ 9,611,670 $ 9,761,845 $ 9,914,273 $ - School Capture Millage Rate State Education Tax (SET) 6.00000 $ 55,908 $ 56,782 $ 57,670 $ 58,571 $ 59,486 $ 1,245,721 School Operating Tax 17.98380 $ 167,572 $ 170,194 $ 172,854 $ 175,555 $ 178,296 $ 3,733,801 School Total 23.9838 $ 223,480 $ 226,976 $ 230,524 $ 234,126 $ 237,782 $ 4,979,522 Local Capture Millage Rate County Museum 0.32200 $ 3,000 $ 3,047 $ 3,095 $ 3,143 $ 3,192 $ 66,854 County Veterans 0.07150 $ 666 $ 677 $ 687 $ 698 $ 709 $ 14,845 Senior Citzens Services 0.49990 $ 4,658 $ 4,731 $ 4,805 $ 4,880 $ 4,956 $ 103,789 Central Dispatch 0.29999 $ 2,795 $ 2,839 $ 2,883 $ 2,928 $ 2,974 $ 62,284 Community College 2.20340 $ 20,531 $ 20,852 $ 21,178 $ 21,509 $ 21,845 $ 457,470 M.A.I.S.D 4.75410 $ 44,298 $ 44,991 $ 45,695 $ 46,409 $ 47,133 $ 987,047 City Operating 10.07540 $ 93,882 $ 95,351 $ 96,841 $ 98,354 $ 99,890 $ 2,091,857 City Sanitation 2.99790 $ 27,934 $ 28,371 $ 28,815 $ 29,265 $ 29,722 $ 622,425 Hackley Library 2.39970 $ 22,360 $ 22,710 $ 23,065 $ 23,425 $ 23,791 $ 498,226 MPS Sinking 0.99810 $ 9,300 $ 9,446 $ 9,593 $ 9,743 $ 9,895 $ 207,226 County Operating 5.69780 $ 53,092 $ 53,922 $ 54,765 $ 55,621 $ 56,490 $ 1,182,979 Local Total 30.3198 $ 282,518 $ 286,938 $ 291,424 $ 295,977 $ 300,599 $ 6,295,002 Non-Capturable Millages Millage Rate Community College Debt 0.34000 $ 3,168 $ 3,218 $ 3,268 $ 3,319 $ 3,371 $ 70,591 Hackley Debt 0.45320 $ 4,223 $ 4,289 $ 4,356 $ 4,424 $ 4,493 $ 94,093 MPS Debt - 1995 3.86000 $ 35,967 $ 36,530 $ 37,101 $ 37,681 $ 38,269 $ 801,414 MPS Debt - 2009 3.50000 $ 32,613 $ 33,123 $ 33,641 $ 34,166 $ 34,700 $ 726,671 Total Non-Capturable Taxes 8.1532 $ 75,971 $ 77,160 $ 78,366 $ 79,590 $ 80,833 $ 1,692,769 1 Assumes 1% annual increase for inflation Total Tax Increment Revenue (TIR) Available for Capture $ 505,998 $ 513,914 $ 521,948 $ 530,103 $ 538,381 $ 11,274,525 Note- For the purpose of Table 2 the new taxable value is estimated stimatedbased basedon on40% 40%ofofaatotal totaloveral overalinvestment investmentofof$19,000,000 $19,000,000divided dividedover overthe thethree threeyears yearsestimated estimatedfor forconstruction constructionofofthe theproject project Z:\2021\210653\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ harbor 31 local only.xlsx Table 3 Tax Increment Revenue Reimbursement Allocation Table 3 - Estimate of Total Incremental Taxes Available for Reimbursement 1 of 2 Viridian Shores, Muskegon, Muskegon County, Michigan Developer Maximum School & Reimbursement Local Taxes State $ 38,450 Local 3,979,630 Estimated Years of Capture: 26 years (including 5 years of LBRF capture) TOTAL $ 4,018,080 EGLE N/A MSF N/A 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Total State Incremental Revenue $ - $ 63,373 $ 117,038 $ 166,052 $ 168,687 $ 171,361 $ 174,075 $ 176,830 $ 179,627 $ 182,465 $ 185,346 $ 188,270 $ 191,238 $ 194,251 $ 197,308 $ 200,412 State Brownfield Redevelopment Fund (50% of SET) $ - $ 21,100 State TIR Available for Reimbursement $ - $ 63,373 $ 117,038 $ 166,052 $ 147,587 $ 171,361 $ 174,075 $ 176,830 $ 179,627 $ 182,465 $ 185,346 $ 188,270 $ 191,238 $ 194,251 $ 197,308 $ 200,412 Total Local Incremental Revenue $ - $ 80,115 $ 147,957 $ 209,920 $ 213,250 $ 216,631 $ 220,062 $ 223,545 $ 227,080 $ 230,668 $ 234,310 $ 238,007 $ 241,759 $ 245,567 $ 249,433 $ 253,356 BRA Administrative Fee $ - $ 500 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 Neighborhood Enterprise Zone (NEZ) Tax Abatement $ - $ 40,057 $ 73,978 $ 104,960 $ 106,625 $ 108,315 $ 110,031 $ 111,773 $ 113,540 $ 115,334 $ 117,155 $ 119,003 $ 120,879 Local TIR Available for Reimbursement $ - $ 39,557 $ 63,978 $ 94,960 $ 96,625 $ 98,315 $ 100,031 $ 213,545 $ 217,080 $ 220,668 $ 224,310 $ 228,007 $ 231,759 $ 235,567 $ 239,433 $ 243,356 Total State & Local TIR Available $ - $ 102,930 $ 181,017 $ 261,012 $ 244,212 $ 269,677 $ 274,107 $ 390,376 $ 396,707 $ 403,134 $ 409,656 $ 416,277 $ 422,997 $ 429,818 $ 436,741 $ 443,768 Beginning DEVELOPER Balance Developer Reimbursement Balance $ - $ - $ 1,818,567 $ 2,132,318 $ 2,461,755 $ 2,580,998 $ 2,568,220 $ 2,593,401 $ 2,618,039 $ 2,524,719 $ 2,423,021 $ 2,312,471 $ 2,192,570 $ 2,062,792 $ 1,922,585 $ 1,771,369 $ 1,608,533 Environmental Eligible Costs $ 76,900 $ - $ 76,900 $ 76,900 $ 76,900 $ 76,900 State Tax Reimbursement $ 38,450 $ - $ - $ - $ - $ 38,450 Local Tax Reimbursement $ 38,450 $ - $ - $ - $ - $ 38,450 Total Environmental Reimbursement Balance $ - $ 76,900 $ 76,900 $ 76,900 $ - Local Only Eligible Costs $ 2,195,000 $ - $ 1,741,667 $ 2,055,418 $ 2,384,855 $ 2,504,098 $ 2,568,220 $ 2,593,401 $ 2,618,039 $ 2,524,719 $ 2,423,021 $ 2,312,471 $ 2,192,570 $ 2,062,792 $ 1,922,585 $ 1,771,369 $ 1,608,533 Local Tax Reimbursement $ 3,941,180 $ - $ - $ - $ - $ 58,175 $ 98,315 $ 100,031 $ 213,545 $ 217,080 $ 220,668 $ 224,310 $ 228,007 $ 231,759 $ 235,567 $ 239,433 $ 243,356 Interest (5%) $ 1,746,180 $ - $ 87,084 $ 102,771 $ 119,243 $ 122,297 $ 123,496 $ 124,669 $ 120,225 $ 115,382 $ 110,118 $ 104,409 $ 98,229 $ 91,552 $ 84,351 $ 76,597 $ 68,259 Total Non Environmental Reimbursement Balance $ 1,828,751 $ 2,158,189 $ 2,504,098 $ 2,568,220 $ 2,593,401 $ 2,618,039 $ 2,524,719 $ 2,423,021 $ 2,312,471 $ 2,192,570 $ 2,062,792 $ 1,922,585 $ 1,771,369 $ 1,608,533 $ 1,433,436 Total Annual Developer Reimbursement $ 4,018,080 $ - $ - $ - $ - $ 135,075 $ 98,315 $ 100,031 $ 213,545 $ 217,080 $ 220,668 $ 224,310 $ 228,007 $ 231,759 $ 235,567 $ 239,433 $ 243,356 LOCAL BROWNFIELD REVOLVING FUND LBRF Deposits * State Tax Capture $ 38,450 Local Tax Capture $ 1,322,408 Total LBRF Capture $ 1,360,858 * Up to five years of capture for LBRF Deposits after eligible activities are reimbursed. May be taken from Local TIR only. Z:\2021\210653\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ harbor 31 local only.xlsx Table 3 - Estimate of Total Incremental Taxes Available for Reimbursement 2 of 2 Viridian Shores, Muskegon, Muskegon County, Michigan Estimated Developer Capture $ 4,018,080 BRA Administrative Fee $ 250,500 State Brownfield Redevelopment Fund $ 49,054 Local Brownfield Revolving Fund $ 1,360,858 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 TOTAL Total State Incremental Revenue $ 203,562 $ 206,759 $ 210,004 $ 213,298 $ 216,642 $ 220,035 $ 223,480 $ 226,976 $ 230,524 $ 234,126 $ 237,782 $ 4,979,522 State Brownfield Redevelopment Fund (50% of SET) $ 27,954 $ 49,054 State TIR Available for Reimbursement $ 203,562 $ 206,759 $ 210,004 $ 213,298 $ 216,642 $ 220,035 $ 195,526 $ 226,976 $ 230,524 $ 234,126 $ 237,782 $ 4,930,469 Total Local Incremental Revenue $ 257,338 $ 261,380 $ 265,483 $ 269,647 $ 273,874 $ 278,164 $ 282,518 $ 286,938 $ 291,424 $ 295,977 $ 300,599 $ 6,295,002 BRA Administrative Fee $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 250,500 Neighborhood Enterprise Zone (NEZ) Tax Abatement $ 1,241,652 Local TIR Available for Reimbursement $ 247,338 $ 251,380 $ 255,483 $ 259,647 $ 263,874 $ 268,164 $ 272,518 $ 276,938 $ 281,424 $ 285,977 $ 290,599 $ 5,500,535 Total State & Local TIR Available $ 450,900 $ 458,139 $ 465,487 $ 472,946 $ 480,516 $ 488,199 $ 468,044 $ 503,914 $ 511,948 $ 520,103 $ 528,381 $ 10,431,004 DEVELOPER Developer Reimbursement Balance $ 1,433,436 $ 1,245,403 $ 1,043,725 $ 827,655 $ 596,409 $ 349,162 $ 85,048 Environmental Eligible Costs State Tax Reimbursement $ 38,450 Local Tax Reimbursement $ 38,450 Total Environmental Reimbursement Balance $ - Local Only Eligible Costs $ 1,433,436 $ 1,245,403 $ 1,043,725 $ 827,655 $ 596,409 $ 349,162 $ 85,048 Local Tax Reimbursement $ 247,338 $ 251,380 $ 255,483 $ 259,647 $ 263,874 $ 268,164 $ 85,048 $ 3,941,180 Interest (5%) $ 59,305 $ 49,702 $ 39,413 $ 28,401 $ 16,627 $ 4,050 $ - $ 1,746,180 Total Non Environmental Reimbursement Balance $ 1,245,403 $ 1,043,725 $ 827,655 $ 596,409 $ 349,162 $ 85,048 $ - Total Annual Developer Reimbursement $ 247,338 $ 251,380 $ 255,483 $ 259,647 $ 263,874 $ 268,164 $ 85,048 $ 4,018,080 LOCAL BROWNFIELD REVOLVING FUND LBRF Deposits * State Tax Capture $ 38,450 $ 38,450 Local Tax Capture $ 187,470 $ 276,938 $ 281,424 $ 285,977 $ 290,599 $ 1,322,408 Total LBRF Capture $ 1,360,858 * Up to five years of capture for LBRF Deposits after eligible activities are reimbursed. May be taken from Local TIR only. Z:\2021\210653\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ harbor 31 local only.xlsx Attachment A Conceptual Renderings MASTERSI TEPLAN 21 HARBOR3 1OPPORTUNI TYZONE-MASTERPL AN 3 0.0 3.0 2 Attachment B Environmental Data Tables and Map TABLE 1 (Page 1 of 3) CLEANUP CRITERIA COMPARISON FOR SOILS UNIT A ‐ VIRIDIAN SHORES 150 VIRIDIAN DRIVE MUSKEGON, MUSKEGON COUNTY, MICHIGAN 1,2,4‐Trimethylbenzene 1,3,5‐Trimethylbenzene 1,1,1‐Trichloroethane 2‐Methylnaphthalene Unit A ‐ Viridian Shores (RESIDENTIAL) Tetrachloroethylene Methylene Chloride Hexachloroethane Isopropylbenzene Trichloroethylene Volatile Organic Compounds (VOCs), Polynuclear Aromatic n‐Propylbenzene n‐Butylbenzene Hydrocarbons (PNAs), and Metals Ethylbenzene Naphthalene Other VOCs (µg/Kg) Benzene Acetone Toluene Xylenes Chemical Abstract Service Number (CAS#) 71556 95636 108678 91576 67641 71432 100414 67721 98828 75092 91203 104518 103651 127184 108883 79016 1330207 Various Sample ID Sample Date Sample Depth (bgs) VOCs Soil Pile Samples EX‐1 2021 Soil Pile West < 50 750 190 2,000 < 1000 300 < 200 310 < 300 < 250 < 400 1,000 220 1,500 < 50 270 2,400 ND EX‐2 2021 Soil Pile Center < 50 240 < 160 450 < 1000 93 < 200 120 < 300 < 250 < 400 < 330 < 100 390 < 50 < 50 600 ND EX‐3 2021 Soil Pile East 61 940 250 1,600 < 1000 360 < 200 400 < 300 < 250 < 370 1,100 270 2,100 < 50 120 3,000 ND HAB‐1 2009 3‐4' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA HAB‐2 2009 2‐3' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA HAB‐3 2009 1‐2' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA Historic Site Soil Samples B‐1 2006 0.5‐1.5' 250 190 67 320 ND ND 51 ‐ ND 2,200 210 ‐ ND ‐ 160 < 71 360 ND B‐2 2006 2‐3' ND 490 180 1,400 570 140 ND ‐ 210 1,300 890 ‐ ND ‐ 400 < 110 920 ND B‐3 2006 1.5‐2.5' 240 1,200 370 2,200 ND ND 280 ‐ 320 ND 1,300 ‐ 340 ‐ 510 200 1,900 ND B‐4 2006 3‐4.5' ND ND ND ND ND ND ND ‐ ND ND < 210 ‐ ND ‐ ND < 110 ND ND B‐8 2006 4‐5' ND 1,100 300 1,600 ND 370 350 ‐ 130 ND 2,100 ‐ 170 ‐ 2,800 < 37 4,100 ND B‐9 2006 2‐3' ND 330 84 680 ND 73 110 ‐ ND 250 630 ‐ ND ‐ 520 < 47 890 ND B‐10 2006 5‐6' ND ND ND 140 ND ND ND ‐ ND 290 < 72 ‐ ND ‐ 73 < 39 ND ND E‐22 1994 1‐3' ‐ ‐ ‐ ‐ ‐ ND ND ‐ ‐ ‐ ‐ ‐ ‐ ‐ ND ‐ ND NA E‐23 1994 1‐3' ‐ ‐ ‐ ‐ ‐ ND ND ‐ ‐ ‐ ‐ ‐ ‐ ‐ ND ‐ ND NA E‐24 1994 1‐3' ‐ ‐ ‐ ‐ ‐ ND ND ‐ ‐ ‐ ‐ ‐ ‐ ‐ ND ‐ ND NA F‐22 1994 1‐3' ‐ ‐ ‐ ‐ ‐ ND ND ‐ ‐ ‐ ‐ ‐ ‐ ‐ ND ‐ ND NA G‐24 1994 2.5‐4.5' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA G‐26 1994 1‐3' ‐ ‐ ‐ ‐ ‐ ND ND ‐ ‐ ‐ ‐ ‐ ‐ ‐ ND ‐ ND NA G‐26 1998 1‐3' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA G‐26.1 2001 1‐3' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA EGLE Residential Vapor Intrusion Screening Levels (VIAP 2020) Soil Residential Screening Levels (2020 VIAP) / Site Specific EGLE (Confirmed October 2017) 450 150 100 1,700 2.60E+05 1.7 12 3.2 (M) 3.8 130 67 550 1,800 6.2 3,700 0.33 280 ‐ MDEQ‐RRD Operational Memorandum No. 1: Part 201 Cleanup Criteria, December 30, 2013; Revised June 25, 2018. Attachment 1: Soil Tables 2 and 3 Residential and Non‐Residential Part 201 Generic Cleanup Criteria and Screening Levels Residential (µg/Kg) Statewide Default Background Levels NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA Drinking Water Protection (DWP) 4,000 2,100 1,800 57,000 15,000 100 1,500 430 91,000 100 35,000 1,600 1,600 100 16,000 100 5,600 Various Groundwater Surface Water Interface Protection (GSIP) 1,800 570 1,100 4,200 34,000 4,000 (X) 360 1,800 (X) 3,200 30,000 (X) 730 ID ID 1,200 (X) 5,400 4,000 (X) 980 Various Ambient Air Infinite Source Volatile Soil Inhalation (VSI) 3.80E+06 2.10E+07 1.60E+07 1.50E+06 1.30E+08 13,000 7.20E+05 5.50e5 1.70E+06 2.10E+05 3.00E+05 ID ID 1.70E+05 2.80E+06 11,000 4.60E+07 Various Ambient Air Particulate Soil Inhalation (PSI) 6.70E+10 8.20E+10 8.20E+10 6.70E+08 3.90E+11 3.80E+08 1.00E+10 2.30e8 5.80E+09 6.60E+09 2.00E+08 2.00E+09 1.E+09 2.70E+09 2.70E+10 1.30E+08 2.90E+11 Various Direct Contact (DC) 5.0E+8 (C) 3.2E+7 (C) 3.2E+7 (C) 8.10E+06 2.30E+07 1.80E+05 2.2E+7 (C) 2.30e5 2.80E+07 1.30E+06 1.60E+07 2.50E+06 3.E+06 2.0E+5 (C) 5.0E+07 1.1E+5 (DD) 4.10E+08 Various Non‐Residential (µg/Kg) Drinking Water Protection (DWP) 4,000 2,100 1,800 1.70E+05 42,000 100 1,500 1,200 2.60E+05 100 1.00E+05 4,600 4,600 100 16,000 100 5,600 Various Groundwater Surface Water Interface Protection (GSIP) 1,800 570 1,100 4,200 34,000 4,000 (X) 360 1,800 (X) 3,200 30,000 730 ID ID 1,200 (X) 5,400 4,000 (X) 980 Various 6.60E+5 Direct Contact (DC) 1.0E+9 (C,D) 1.00E+08 1.00E+8 (C) 2.60E+07 7.30E+07 8.4E+5 (C) 7.1E+7 (C) 7.30E+05 8.0E+7 (C) 5.80E+06 5.20E+07 8.00E+06 8.00E+06 9.30E+5 (C) 1.60E+08 1.00E+09 Various (C DD) Screening Levels (µg/Kg) Soil Saturation Concentration Screening Levels (Csat) 4.60E+05 1.10E+05 94,000 NA 1.10E+08 4.00E+05 1.40E+05 NVL 3.90E+05 2.30E+06 NA 1.00E+07 1.00E+07 88,000 250,000 5.00E+05 150,000 Various ND Not Detected above laboratory Method Detection Limit (MDL) or Minimum Quantitative Level (MQL) NA / ‐ Not analyzed or Not Available NLV / NLL Not Likely to Volatilize / Not Likely to Leach ID Insufficient Data µg/Kg micrograms per Kilogram or parts per billion bgs Below Grade Surface (feet) Bold Exceeds Part 201 Cleanup Criteria Identified Part 201 Cleanup Criteria exceeded Exceeds EGLE VIAP Screening Levels TABLE 1 (Page 2 of 3) CLEANUP CRITERIA COMPARISON FOR SOILS UNIT A ‐ VIRIDIAN SHORES 150 VIRIDIAN DRIVE MUSKEGON, MUSKEGON COUNTY, MICHIGAN Dibenzo(a,h)anthracene Indeno(1,2,3‐cd)pyrene Benzo(b)fluoranthene Benzo(k)fluoranthene 2‐Methylnaphthalene Unit A ‐ Viridian Shores (RESIDENTIAL) Benzo(g,h,i)perylene Benzo(a)anthracene Volatile Organic Compounds (VOCs), Polynuclear Aromatic Benzo(a)pyrene Acenaphthene Hydrocarbons (PNAs), and Metals Phenanthrene Fluoranthene Naphthalene Anthracene Other PNAs Chrysene Fluorene (µg/Kg) Pyrene Chemical Abstract Service Number (CAS#) 83329 120127 56553 50328 205992 191242 207089 218019 53703 206440 86737 193395 91576 91203 85018 129000 Various Sample ID Sample Date Sample Depth (bgs) PNAs Soil Pile Samples EX‐1 2021 Soil Pile West ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA EX‐2 2021 Soil Pile Center ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA EX‐3 2021 Soil Pile East ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA HAB‐1 2009 3‐4' ‐ 84 290 250 47 65 170 330 ‐ 500 ‐ 61 1,100 670 820 520 ND HAB‐2 2009 2‐3' ‐ 490 ND ND ND ND ND ND ‐ 950 ‐ ND 3,200 980 2,500 ND ND HAB‐3 2009 1‐2' ‐ 110 240 210 330 53 79 290 ‐ 480 ‐ 51 1,200 670 1,100 650 ND Historic Site Soil Samples B‐1 2006 0.5‐1.5' ND ND ND ND 3,100 ND ND 4,300 ND 3,400 ND ND 8,500 < 1400 13,000 3,300 ND B‐2 2006 2‐3' ND ND ND ND ND ND ND ND ND ND ND ND 3,100 < 1300 4,300 ND ND B‐3 2006 1.5‐2.5' ND 1,100 ND ND 2,200 ND ND 2,400 ND 2,300 ND ND 7,700 < 1300 9,600 2,500 ND B‐4 2006 3‐4.5' ND ND ND ND 90 ND 83 ND ND ND ND ND ND < 47 66 ND ND B‐8 2006 4‐5' 2,200 6,900 15,000 10,000 10,000 6,700 9,200 17,000 2,400 41,000 2,700 5,900 3,700 5,600 32,000 3,100 ND B‐9 2006 2‐3' ND ND ND ND ND ND ND ND ND ND ND ND ND < 58 ND ND ND B‐10 2006 5‐6' ND ND ND ND ND ND ND ND ND ND ND ND ND < 1300 1,100 ND ND E‐22 1994 1‐3' ND ND ND ND ND ND ND ND ND ND ND ND ‐ 490 480 ND ND E‐23 1994 1‐3' ND ND ND ND ND ND ND 710 ND ND ND ND ‐ < 330 ND ND ND E‐24 1994 1‐3' 800 1,100 1,600 ND ND ND ND 1,300 ND 2,100 1,500 ND ‐ 27,000 11,000 2,600 ND F‐22 1994 1‐3' ND ND ND ND ND ND ND ND ND ND ND ND ‐ < 330 ND ND ND G‐24 1994 2.5‐4.5' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA G‐26 1994 1‐3' ND ND 1,200 ND ND ND ND 1,300 ND 590 ND ND ‐ < 330 ND 1,500 ND G‐26 1998 1‐3' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA G‐26.1 2001 1‐3' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA EGLE Residential Vapor Intrusion Screening Levels (VIAP 2020) Soil Residential Screening Levels (2020 VIAP) / Site Specific EGLE (Confirmed October 2017) 2.00E+05 1.30E+07 1.60E+05 ‐ ‐ ‐ ‐ ‐ ‐ ‐ 4.70E+05 ‐ 1,700 67 1,700 2.50E+07 ‐ MDEQ‐RRD Operational Memorandum No. 1: Part 201 Cleanup Criteria , December 30, 2013; Revised June 25, 2018. Attachment 1: Soil Tables 2 and 3 Residential and Non‐Residential Part 201 Generic Cleanup Criteria and Screening Levels Residential (µg/Kg) Statewide Default Background Levels NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA Drinking Water Protection (DWP) 3.00E+05 41,000 NLL NLL NLL NLL NLL NLL NLL 7.30E+05 3.90E+05 NLL 57,000 35,000 56,000 4.80E+05 Various Groundwater Surface Water Interface Protection (GSIP) 8,700 ID NLL NLL NLL NLL NLL NLL NLL 5,500 5,300 NLL 4,200 730 2,100 ID Various Ambient Air Infinite Source Volatile Soil Inhalation (VSI) 8.10E+07 1.40E+09 NLV NLV ID NLV NLV ID NLV 7.40E+08 1.30E+08 NLV 1.50E+06 3.00E+05 1.60E+05 6.50E+08 Various Ambient Air Particulate Soil Inhalation (PSI) 1.40E+10 6.70E+10 ID 1.50E+06 ID 8.00E+08 ID ID ID 9.30E+09 9.30E+09 ID 6.70E+08 2.00E+08 6.70E+06 6.70E+09 Various Direct Contact (DC) 4.10E+07 2.30E+08 20,000 2,000 20,000 2.50E+06 2.00E+05 2.00E+06 2,000 4.60E+07 2.70E+07 20,000 8.10E+06 1.60E+07 1.60E+06 2.90E+07 Various Non‐Residential (µg/Kg) Drinking Water Protection (DWP) 8.80E+05 41,000 NLL NLL NLL NLL NLL NLL NLL 7.30E+05 8.90E+05 NLL 1.70E+05 1.00E+05 1.60E+05 4.80E+05 Various Groundwater Surface Water Interface Protection (GSIP) 8,700 ID NLL NLL NLL NLL NLL NLL NLL 5,500 5,300 NLL 4,200 730 2,100 ID Various Direct Contact (DC) 1.30E+08 7.30E+08 80,000 8,000 80,000 7.00E+06 8.00E+05 8.00E+06 8,000 1.30E+08 8.70E+07 80,000 2.60E+07 5.20E+07 5.20E+06 8.40E+07 Various Screening Levels (µg/Kg) Soil Saturation Concentration Screening Levels (Csat) NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA Various ND Not Detected above laboratory Method Detection (MDL) or Minimum Quantitative Level (MQL) NA / ‐ Not analyzed or Not Available NLV / NLL Not Likely to Volatilize / Not Likely to Leach ID Insufficient Data µg/Kg micrograms per Kilogram or parts per billion bgs Below Grade Surface (feet) Bold Exceeds Part 201 Cleanup Criteria Identified Part 201 Cleanup Criteria exceeded Exceeds EGLE VIAP Screening Levels TABLE 1 (Page 3 of 3) CLEANUP CRITERIA COMPARISON FOR SOILS UNIT A ‐ VIRIDIAN SHORES 150 VIRIDIAN DRIVE MUSKEGON, MUSKEGON COUNTY, MICHIGAN Unit A ‐ Viridian Shores (RESIDENTIAL) Volatile Organic Compounds (VOCs), Polynuclear Aromatic Hydrocarbons (PNAs), and Metals Manganese Chromium Antimony Cadmium Beryllium Selenium (µg/Kg) Mercury Arsenic Barium Copper Nickel Silver Lead Zinc Chemical Abstract Service Number (CAS#) 7440360 7440382 744393 7440439 16065831 7440508 7439921 7439976 7782492 7440224 7440666 7440417 7439965 7440020 Sample ID Sample Date Sample Depth (bgs) Metals Soil Pile Samples EX‐1 2021 Soil Pile West ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ EX‐2 2021 Soil Pile Center ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ EX‐3 2021 Soil Pile East ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ HAB‐1 2009 3‐4' ‐ 27,000 93,000 800 ‐ 88,000 48,000 280 1,500 80 66,000 ‐ 220,000 ‐ HAB‐2 2009 2‐3' ‐ 33,000 140,000 3,400 ‐ 350,000 3,200,000 93 1,400 260 910,000 ‐ 1,100,000 ‐ HAB‐3 2009 1‐2' ‐ 30,000 72,000 390 ‐ 21,000 28,000 39 2,000 ND 30,000 ‐ 110,000 ‐ Historic Site Soil Samples B‐1 2006 0.5‐1.5' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ B‐2 2006 2‐3' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ B‐3 2006 1.5‐2.5' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ B‐4 2006 3‐4.5' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ B‐8 2006 4‐5' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ B‐9 2006 2‐3' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ B‐10 2006 5‐6' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ E‐22 1994 1‐3' ND 50,000 ‐ ND 7,600 14,000 9,700 <100 1,600 ‐ 3,400 ND ‐ 3,100 E‐23 1994 1‐3' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ E‐24 1994 1‐3' ND 6,400 ‐ 71 4,600 12,000 17,000 <100 1,300 ‐ 4,500 ND ‐ 8,800 F‐22 1994 1‐3' ND 26,000 ‐ 52 2,600 2,800 1,600 <100 ND ‐ 4,200 ND ‐ ND G‐24 1994 2.5‐4.5' 15,000 18,000 ‐ 3,900 250,000 990,000 290,000 <100 ND ‐ 270,000 ND ‐ 270,000 G‐26 1994 1‐3' ND 7,500 ‐ 2,700 76,000 150,000 100,000 <100 790 ‐ 150,000 290 ‐ 96,000 G‐26 1998 1‐3' ‐ ‐ ‐ ‐ 21,000 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ G‐26.1 2001 1‐3' ‐ ‐ ‐ ‐ ‐ 6,000 ‐ ‐ ND ‐ ‐ ‐ ‐ 6,000 EGLE Residential Vapor Intrusion Screening Levels (VIAP 2020) Soil Residential Screening Levels (2020 VIAP) / Site Specific EGLE (Confirmed October 2017) ‐ ‐ ‐ ‐ ‐ ‐ ‐ 22 (M) ‐ ‐ ‐ ‐ ‐ ‐ MDEQ‐RRD Operational Memorandum No. 1: Part 201 Cleanup Criteria, 2013; Revised June 25, 2018. Attachment 1: Soil Tables 2 and 3 Residential and Non‐Residential Part 201 Generic Cleanup Criteria and Screening Levels Residential (µg/Kg) Statewide Default Background Levels NA 5,800 75,000 1,200 18,000 (total) 32,000 21,000 130 410 1,000 47,000 NA 4.40E+05 20,000 Drinking Water Protection (DWP) 4,300 4,600 1.30E+06 6,000 30,000 5.80E+06 7.00E+05 1,700 4,000 4,500 2,400,000 5.10E+04 1,000 51,000 Groundwater Surface Water Interface Protection (GSIP) 94,000(X) 4,600 440,000 (G) 3,600 (G) 3,300 75,000 (G) 5.10E+6 (G,X) 50 (M); 1.2 400 100 (M); 27 170,000 (G) 85,000 (G) 56,000 (G,X) 76,000 (G) Ambient Air Infinite Source Volatile Soil Inhalation (VSI) NLV NLV NLV NLV NLV NLV NLV 52,000 NLV NLV NLV NLV NLV NLV Ambient Air Particulate Soil Inhalation (PSI) 1.30E+07 7.20E+05 3.30E+08 1.70E+06 2.60E+05 1.30E+08 1.00E+08 2.00E+07 1.30E+08 6.70E+06 ID 1.30E+06 3.30E+06 1.30E+07 Direct Contact (DC) 1.80E+05 7,600 3.70E+07 5.50E+05 2.50E+06 2.00E+07 4.00E+05 1.60E+05 2.60E+06 2.50E+06 1.7E+08 4.10E+05 2.50E+07 4.00E+07 Non‐Residential (µg/Kg) Drinking Water Protection (DWP) 4,300 4,600 1.30E+06 6,000 30,000 5.80E+06 7.00E+05 1,700 4,000 13,000 5,000,000 5.10E+04 1,000 51,000 Groundwater Surface Water Interface Protection (GSIP) 94,000(X) 4,600 (G) 3,600 (G) 3,300 75,000 (G) (G,X) 50 (M); 1.2 400 100 (M); 27 170,000 (G) (G) 56,000 (G,X) 76,000 (G) Direct Contact (DC) 6.70E+05 37,000 1.30E+08 2.10E+06 9.20E+06 7.30E+07 9.0E+5 (DD) 5.80E+05 9.60E+06 9.00E+06 630,000,000 1.60E+06 9.00E+07 1.50E+08 Screening Levels (µg/Kg) Soil Saturation Concentration Screening Levels (Csat) NA NA NA NA NA NA NA NA NA NA NA NA NA NA ND Not Detected above laboratory Method Detection (MDL) or Minimum Quantitative Level (MQL) NA / ‐ Not analyzed or Not Available NLV / NLL Not Likely to Volatilize / Not Likely to Leach ID Insufficient Data µg/Kg micrograms per Kilogram or parts per billion bgs Below Grade Surface (feet) Bold Exceeds Part 201 Cleanup Criteria Identified Part 201 Cleanup Criteria exceeded Exceeds EGLE VIAP Screening Levels TABLE 2 (Page 1 of 2) CLEANUP CRITERIA COMPARISON FOR GROUNDWATER UNIT A - VIRIDIAN SHORES 150 VIRIDIAN DRIVE MUSKEGON, MUSKEGON COUNTY, MICHIGAN 1,2,4‐Trimethylbenzene 1,3,5‐Trimethylbenzene 2‐Methylnaphthalene Tetrachloroethylene Unit A ‐ Viridian Shores (RESIDENTIAL) Methylene Chloride Trichloroethylene Volatile Organic Compounds (VOCs), Polynuclear Aromatic Vinyl chloride Ethylbenzene Hydrocarbons (PNAs), and Metals Naphthalene Other VOCs (µg/L) Benzene Toluene Xylenes Chemical Abstract Service Number (CAS#) 71432 100414 91576 75092 91203 127184 108883 79016 95636 108678 75014 1330207 Various Sample ID Sample Date Screen Depth (bgs) VOCs Recent Groundwater Samples MW‐106s 12/8/20 1.7‐6.7' < 1 < 1 ‐ ‐ ‐ ‐ < 1 ‐ < 1 < 1 ‐ < 3 NA MW‐118s 12/8/20 3.5‐8.5' < 1 < 1 ‐ ‐ ‐ ‐ < 1 ‐ < 1 < 1 ‐ < 3 NA MW‐118s 1/21/21 3.5‐8.5' ‐ ‐ ‐ < 5 < 5 ‐ ‐ < 1 ‐ ‐ ‐ ‐ NA MW‐118d 12/8/20 49‐54' ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA MW‐119s 12/8/20 6‐11' < 1 < 1 ‐ ‐ ‐ ‐ < 1 ‐ < 1 < 1 ‐ < 3 NA Historic Groundwater Samples B‐1 2006 < 10' ND ND ND ND ND ND ND ND ND ND ND ND ND B‐2 2006 < 10' ND ND ND ND ND ND ND ND ND ND ND ND ND B‐3 2006 < 10' ND ND ND ND ND ND ND ND ND ND ND ND ND B‐4 2006 < 10' ND ND ND ND ND ND ND ND ND ND ND ND ND B‐8 2006 < 10' ND ND ND ND ND ND ND ND 42 ND ND ND ND B‐9 2006 < 10' ND ND ND ND ND ND ND ND ND ND ND ND ND B‐10 2006 < 10' ND ND ND ND ND ND ND ND ND ND ND ND ND EGLE Residential Vapor Intrusion Screening Levels (VIAP 2020) Groundwater Residential Shallow (< 10 ft bgs) (2020 VIAP) 1.0 2.8 66 79 4.2 1.5 300 0.073 25 18 0.12 75 Various MDEQ‐RRD Operational Memorandum No. 1: Part 201 Cleanup Criteria , December 30, 2013; Revised June 25, 2018. Attachment 1: Groundwater Table 1 Residential and Non‐residential Part 201 Generic Cleanup Criteria and Screening Levels and Part 213 Tier 1 RBSLs Residential (µg/L) Residential Drinking Water (DW) 5.0 (A) 74 (E) 260 5.0 (A) 520 5.0 (A) 790 (E) 5.0 (A) 63 (E) 72 (E) 2.0 (A) 280 Various Groundwater Surface Water Interface (GSI) 200 (X) 18 19 1,500 (X) 11 60 (X) 270 200 (X) 17 45 13 (X) 41 Various Non‐Residential (µg/L) Non‐Residential Drinking Water (DW) 5.0 (A) 74 (E) 750 5.0 (A) 1,500 5.0 (A) 790 (E) 5.0 (A) 63 (E) 72 (E) 2.0 (A) 280 Various Groundwater Surface Water Interface (GSI) 200 (X) 18 19 1,500 (X) 11 60 (X) 270 200 (X) 17 45 13 (X) 41 Various ND Not Detected above the laboratory Method Detection Limit (MDL) or Minimum Quantitative Level (MQL) NA / ‐ Not analyzed or Not Available NVL No value listed µg/L micrograms per Liter or parts per billion bgs Below Grade Surface (feet) Bold Exceeds Cleanup Criteria Cleanup Criteria exceeded Exceeds EGLE VIAP Screening Levels TABLE 2 (Page 2 of 2) CLEANUP CRITERIA COMPARISON FOR GROUNDWATER UNIT A - VIRIDIAN SHORES 150 VIRIDIAN DRIVE MUSKEGON, MUSKEGON COUNTY, MICHIGAN Unit A ‐ Viridian Shores (RESIDENTIAL) Volatile Organic Compounds (VOCs), Polynuclear Aromatic Hydrocarbons (PNAs), and Metals (µg/L) Cadmium Selenium Mercury Copper Metals Nickel PNAs Lead Zinc Chemical Abstract Service Number (CAS#) Various 7440439 7440508 7439921 Varies 7440020 7782492 7440666 Various Sample ID Sample Date Screen Depth (bgs) PNAs Metals Recent Groundwater Samples MW‐106s 12/8/20 1.7‐6.7' ND < 1 < 5 < 5 < 0.2 6.0 < 5 < 10 NA MW‐118s 12/8/20 3.5‐8.5' ND < 2 < 5 ‐ < 0.2 < 3 < 5 < 10 NA MW‐118s 1/21/21 3.5‐8.5' NA ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA MW‐118d 12/8/20 49‐54' NA < 2 < 5 ‐ < 0.2 < 5 < 1 < 10 NA MW‐119s 12/8/20 6‐11' ND ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA Historic Groundwater Samples B‐1 2006 < 10' NA ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA B‐2 2006 < 10' NA ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA B‐3 2006 < 10' NA ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA B‐4 2006 < 10' NA ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA B‐8 2006 < 10' NA ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA B‐9 2006 < 10' NA ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA B‐10 2006 < 10' NA ‐ ‐ ‐ ‐ ‐ ‐ ‐ NA EGLE Residential Vapor Intrusion Screening Levels (VIAP 2020) Groundwater Residential Shallow (< 10 ft bgs) (2020 VIAP) Various ‐ ‐ ‐ 0.088 ‐ ‐ ‐ Various MDEQ‐RRD Operational Memorandum No. 1: Part 201 Cleanup Criteria , December 30, 2013; Revised June 25, 2018. Attachment 1: Groundwater Table 1 Residential and Non‐residential Part 201 Generic Cleanup Criteria and Screening Levels and Part 213 Tier 1 RBSLs Residential (µg/L) Residential Drinking Water (DW) Various 5.0 (A) 1,000 (E) 4.0 (L) 2.0 (A) 100 (A) 50 (A) 2400 Various Groundwater Surface Water Interface (GSI) Various 3.6 (G,X) 15 (G) 41 (G,X) 0.0013 90 (G) 5.0 200 (G) Various Non‐Residential (µg/L) Non‐Residential Drinking Water (DW) Various 5.0 (A) 1,000 (E) 4.0 (L) 2.0 (A) 100 (A) 50 (A) 5,000 (E) Various Groundwater Surface Water Interface (GSI) Various 3.6 (G,X) 15 (G) 41 (G,X) 0.0013 90 (G) 5.0 200 (G) Various ND Not Detected above the laboratory Method Detection Limit (MDL) or Minimum Quantitative Level (MQL) NA / ‐ Not analyzed or Not Available NVL No value listed µg/L micrograms per Liter or parts per billion bgs Below Grade Surface (feet) Bold Exceeds Cleanup Criteria Cleanup Criteria exceeded Exceeds EGLE VIAP Screening Levels Fishbeck | 1 of 1 Table 11 - Groundwater Data Summary (2015-2020) - Volatile Organic Compounds Former Teledyne Continental Motors Site Muskegon, Michigan 1,2,4- 1,3,5- Xylenes, Monitoring Collection Field Benzene Ethylbenzene Toluene Trimethylbenzene Trimethylbenzene Total Location Date Duplicate [95-63-6] [108-67-8] [71-43-2] [100-41-4] [108-88-3] [1330-20-7] 11/17/15 100 36 53 4.1 3.3 230 MW-102RS 02/17/16 offsite 12 6.4 6.2 1U 1U 31 07/01/20 0.55 J 1U 61 1U 1U 0.31 J 12/08/20 1 U 1U 18 1U 1U 0.33 J 11/17/15 1 U 1U 1U 1U 1U 3U 02/18/16 1 U 1U 1U 1U 1U 3U MW-106S 07/01/20 1 U 1U 1U 1U 1U 3U 12/08/20 1 U 1U 1U 1U 1U 3U 11/17/15 1 U 1U 1U 1U 1U 3U 02/17/16 offsite 1 U 1U 1U 1U 1U 3U MW-107S 07/02/20 1 U 1U 1U 1U 1U 3U 12/08/20 1 U 1U 1U 1U 1U 3U 12/08/20 X 1 U 1U 1U 1U 1U 3U 11/16/15 1 U 1U 1U 1U 1U 3U MW-109S 02/18/16 1 U 1U 1U 1U 1U 3U 07/02/20 1 U 1U 1U 1U 1U 3U 11/16/15 1 U 1U 1U 1U 1U 3U MW-110S 02/17/16 1 U 1U 1U 1U 1U 3U 07/01/20 1 U 1U 1U 1U 1U 3U 11/17/15 1 U 1U 1U 1U 1U 3U 02/18/16 1 U 1U 1U 1U 1U 3U MW-112RS 07/02/20 1 U 1U 1U 1U 1U 3U 12/08/20 1 U 1U 1U 1U 1U 3U 11/16/15 1 U 1U 1U 1U 1U 3U 02/17/16 1 U 1U 1U 1U 1U 3U MW-116S 07/01/20 1 U 1U 1U 1U 1U 3U 12/08/20 1 U 1U 1U 1U 1U 3U 11/17/15 1 U 1U 1U 1U 1U 3U 02/18/16 1 U 1U 1U 1U 1U 3U MW-118S 07/01/20 1 U 1U 1U 1U 1U 3U 12/08/20 1 U 1U 1U 1U 1U 3U 11/17/15 1 U 1U 1U 1U 1.2 3U 02/18/16 1 U 1U 1U 1U 2.1 3U MW-119S 07/01/20 1 U 1U 1U 1U 1U 3U 12/08/20 1 U 1U 1U 1U 1U 3U 11/16/15 1 U 1U 1U 1U 1U 3U 02/18/16 offsite 1 U 1U 1U 1U 1U 3U MW-120S 07/02/20 1 U 1U 1U 1U 1U 3U 12/08/20 1 U 1U 1U 1U 1U 3U 11/16/15 1 U 1U 1U 1U 1U 3U 11/16/15 X 1 U 1U 1U 1U 1U 3U 02/17/16 1 U 1U 1U 1U 1U 3U MW-121S 02/17/16 X 1 U 1U 1U 1U 1U 3U 07/01/20 1 U 1U 1U 1U 1U 3U 07/01/20 X 1 U 1U 1U 1U 1U 3U 11/16/15 1 U 1U 1U 1U 1U 3U 11/17/15 1 U 1U 1U 1U 1U 3U 02/17/16 1 U 1U 1U 1U 1U 3U Trip Blank 02/18/16 1 U 1U 1U 1U 1U 3U 07/01/20 1 U 1U 1U 1U 1U 3U 07/02/20 1 U 1U 1U 1U 1U 3U 12/08/20 1U 1U 1U 1U 1U 3U (1) Residential DWC 63 (E) 72 (E) 5.0 74 (E) 790 (E) 280 (E) (1) Nonresidential DWC 63 (E) 72 (E) 5.0 74 (E) 790 (E) 280 (E) (1) GSI Criteria 17 45 200 (X) 18 270 49 Results expressed in µg/L. Bolded values exceed an applicable criterion. Data Qualifiers: U Not detected Footnotes/Abbreviations: (1) Part 201 Groundwater Generic Cleanup Criteria/Part 213 Tier 1 Risk-based Screening Levels, January 10, 2018 (GSI Criteria Updated June 25, 2018). (E) Aesthetic drinking water value. Notice of aesthetic impact may be employed as an institutional control if concentration exceeds the aesthetic DWC but not the health-based DW value. (X) Criterion not protective for surface water used as a drinking water source. DWC drinking water criterion GSI groundwater surface water interface \\ftch\allprojects\2001\01060E\WORK\Rept\Site Char Rpt 2020\Tables\TBL11_GW-VOC-sum_2020_1230.xlsx 1/11/2021 Fishbeck | 1 of 1 Table 12 - Groundwater Data Summary (2015-2020) - Polynuclear Aromatic Hydrocarbons Former Teledyne Continental Motors Site Muskegon, Michigan Acenaphthylen Acenaphthene Phenanthrene Indeno(1,2,3- Fluoranthene fluoranthene fluoranthene Naphthalene naphthalene Dibenzo(a,h) Benzo(g,h,i) Anthracene anthracene anthracene [205-99-2] [191-24-2] [207-08-9] [218-01-9] [129-00-0] [208-96-8] [120-12-7] [206-44-0] [193-39-5] Chrysene [56-55-3) [91-57-6] [83-32-9] [50-32-8] [53-70-3] [86-73-7] [92-20-3] [85-01-8] 2-Methyl Fluorene Benzo(b) Benzo(a) Benzo(a) perylene Benzo(k) pyrene pyrene Pyrene Monitoring Collection Field cd) e Location Date Duplicate 11/17/15 13 5.4 J 0.50 J 0.45 J 2.5 U 2.5 U 2.5 U 2.5 U 2.5 U 2.5 U 5U 2.5 U 1.2 J 5U 1.3 J 1.2 J 12 U 02/17/16 offsite 1.3 J 0.80 J 0.081 J 0.10 J 1 U 1 U 1U 1U 1U 1 U 2U 0.091 J 0.24 J 2U 0.16 J 0.21 J 0.17 J MW-102RS 07/01/20 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.046 J 12/08/20 0.17 U 0.044 J 0.029 J 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.042 J 11/17/15 5U 5U 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 5U 2U 5 U 02/18/16 5U 5U 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 5U 2U 5 U MW-106S 07/01/20 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 12/08/20 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 11/17/15 5U 5U 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 5U 2U 5 U 02/17/16 offsite 5U 5U 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 5U 2U 5 U MW-107S 07/02/20 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.049 J 0.17 U 0.17 U 0.17 U 0.17 U 0.085 J 12/08/20 0.17 U 0.17 U 0.17 U 0.17 U 0.065 J 0.17 U 0.040 J 0.17 U 0.17 U 0.17 U 0.17 U 0.065 J 0.17 U 0.17 U 0.17 U 0.17 U 0.093 J 12/08/20 X 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.044 J 11/16/15 5U 1.3 J 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 0.22 J 2U 0.11 J 2U 5 U MW-109S 02/18/16 0.040 J 0.97 J 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 0.11 J 2U 0.050 J 2U 5 U 07/02/20 0.17 U 0.92 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.088 J 0.17 U 0.17 U 0.17 U 0.17 U 11/16/15 5U 5U 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 5U 2U 5 U MW-110S 02/17/16 5U 5U 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 5U 2U 5 U 07/01/20 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 11/17/15 12 U 12 U 12 U 12 U 2.5 U 2.5 U 2.5 U 2.5 U 2.5 U 2.5 U 5U 2.5 U 12 U 5U 12 U 5U 12 U 02/18/16 12 U 12 U 12 U 12 U 2.5 U 2.5 U 2.5 U 2.5 U 2.5 U 2.5 U 5U 2.5 U 12 U 5U 12 U 5U 12 U MW-112RS 07/02/20 0.17 U 0.41 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.13 J 0.17 U 0.17 U 0.17 U 0.065 J 12/08/20 0.17 U 0.14 J 0.034 J 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.043 J 0.17 U 0.17 U 0.17 U 0.17 U 11/16/15 5U 5U 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 5U 2U 5 U 02/17/16 5U 5U 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 5U 2U 5 U MW-116S 07/01/20 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 12/08/20 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 11/17/15 5U 5U 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 5U 2U 5 U 02/18/16 5U 5U 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 5U 2U 5 U MW-118S 07/01/20 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.042 J 0.17 U 0.17 U 12/08/20 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 11/17/15 62 U 1.8 J 0.76 J 62 U 2.8 J 1.8 J 1.8 J 12 U 2.0 J 2.8 J 25 U 2.5 J 1.5 J 25 U 1.3 J 25 U 3.3 J 02/18/16 62 U 62 U 62 U 62 U 12 U 12 U 12 U 12 U 12 U 12 U 25 U 12 U 62 U 25 U 62 U 25 U 62 U MW-119S 07/01/20 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 12/08/20 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 11/16/15 5U 5U 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 5U 2U 5 U 02/18/16 offsite 5U 5U 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 5U 2U 5 U MW-120S 07/02/20 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 12/08/20 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 11/16/15 5U 0.33 J 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 0.080 J 0.070 J 5 U 11/16/15 X 5U 0.37 J 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 0.080 J 2U 5 U 02/17/16 5U 0.38 J 5 U 5 U 0.060 J 0.050 J 1U 1U 0.060 J 0.070 J 2U 1 U 5U 2U 0.070 J 0.050 J 5 U MW-121S 02/17/16 X 5U 0.35 J 5 U 5 U 1 U 1 U 1U 1U 1U 1 U 2U 1 U 5U 2U 0.070 J 2U 5 U 07/01/20 0.17 U 0.50 0.028 J 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 07/01/20 X 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U 0.17 U Residential DWC (1) 260 1,300 52 43 2.1 5.0 1.5 (AA) 1.0 (M); 0.26 1.0 (M); 0.80 1.6 2.0 (M); 0.21 210 880 2.0 (M); 0.022 520 52 140 Nonresidential DWC (1) 750 3,800 150 43 8.5 5.0 1.5 (AA) 1.0 (M); 0.26 1.0 (M); 0.80 1.6 2.0 (M); 0.85 210 2,000 2.0 (M); 0.022 1,500 150 140 GSI Criteria (1) 19 38 ID ID ID ID ID ID NA ID ID 1.6 12 ID 11 2.0 (M); 1.7 ID Results expressed in µg/L. Bolded values exceed an applicable criterion. Data Qualifiers: U - Not detected J - Estimated value Footnotes/Abbreviations: (1) Part 201 Groundwater Generic Cleanup Criteria/Part 213 Tier 1 Risk-based Screening Levels, January 10, 2018 (GSI Criteria Updated June 25, 2018). (M) - Criterion is below the target detection limit; criterion defaults to detection limit (first value is criterion, second value is the risk based or solubility value) DWC - drinking water criterion GSI - groundwater surface water interface ID - Insufficient data to develop criterion. NA - not available \\ftch\allprojects\2001\01060E\WORK\Rept\Site Char Rpt 2020\Tables\TBL12_GW-PNA-sum_2020_1230.xlsx 1/11/2021 Fishbeck | 1 of 2 Table 13 - Groundwater Data Summary (2015-2020) - Metals and Cyanide Former Teledyne Continental Motors Site Muskegon, Michigan Zinc, Zinc, Monitoring Location Collection Field Antimony Arsenic (B) Barium (B) Cadmium (B) Copper (B) Lead (B) Mercury (B) Nickel (B) Selenium (B) Cyanide (4) Dissolved (B) Total (B) (Receiving Surface Water) Date Duplicate [7440-36-0] [7440-38-2] [7440-39-3] [7440-43-9] [7440-50-8] [7439-92-1] [7439-97-6] [7440-02-0] [7782-49-2] [7440-66-6] [7440-66-6] [57-12-5] 11/17/15 -- -- -- 2.4 4U 3U 0.2 U 20 U 5.9 -- 50 U -- 02/18/16 -- -- -- 1.1 4U 3U 0.2 U 20 U 5U -- 50 U -- MW-106S 04/07/16 -- -- -- -- -- -- -- -- 5U -- -- -- (Muskegon Lake) 07/01/20 -- -- -- 0.25 J 4U 3U 0.18 J 7.7 5U -- 10 U -- 12/08/20 -- -- -- 0.56 J 5U 5U 0.2 U 6.0 5U -- 10 U -- 11/17/15 offsite -- -- -- 1U -- -- -- 20 U 5U -- 50 U -- MW-107D 02/18/16 -- -- -- 1U -- -- -- 20 U 5U -- 50 U -- (Muskegon Lake) 07/01/20 -- -- -- 0.28 J -- -- -- 1.7 J 5U -- 980 -- 12/08/20 -- -- -- 2U -- -- -- 5U 0.89 J -- 500 -- 11/17/15 -- -- 100 1U -- -- -- 20 U 5U -- 50 U -- 02/17/16 -- -- 100 U 1U -- -- -- 20 U 5U -- 50 U -- MW-107S 07/02/20 -- -- 350 2U -- -- -- 12 0.55 J -- 380 -- (Muskegon Lake) 12/08/20 -- -- 330 2U -- -- -- 2.0 J 0.52 J -- 5.9 J -- 12/08/20 X -- -- 330 2U -- -- -- 2.3 J 0.51 J -- 6.6 J -- 11/16/15 -- -- -- -- -- -- -- -- -- -- -- 5U MW-109D 02/17/16 -- -- -- -- -- -- -- -- -- -- -- 5U (Ryerson Creek) 03/23/17 -- -- 190 -- -- -- -- -- -- -- -- -- 07/02/20 -- -- -- -- -- -- -- -- -- -- -- 4U 11/16/15 -- -- 710 -- -- 3U -- -- -- -- -- 5U MW-109S 02/18/16 -- -- 760 -- -- 3U -- -- -- -- -- 5U (Ryerson Creek) 03/23/17 -- -- 650 -- -- -- -- -- -- -- -- -- 07/02/20 -- -- 380 -- -- 5U -- -- -- -- -- 4U 11/16/15 -- 5U -- -- 4U -- 0.2 U -- 5U -- 50 U -- MW-110S 02/17/16 -- 5U -- -- 4U -- 0.2 U -- 5U -- 50 U -- (Ryerson Creek) 03/23/17 -- -- 210 -- -- -- -- -- -- -- -- -- 07/01/20 -- 9.3 -- -- 4U -- 0.2 U -- 5U -- 10 U -- 11/17/15 -- -- 350 1U 4U 3U -- 20 U 5U -- 50 U -- MW-112RS 02/18/16 -- -- 300 1U 4U 3U -- 20 U 5U -- 50 U -- (Muskegon Lake) 07/02/20 -- -- 420 2U 5U 5U -- 5U 5U -- 7.0 J -- 12/08/20 -- -- 520 2U 5U 5U -- 5U 5U -- 10 U -- 11/16/15 2U -- -- 1U 4U -- 0.2 U -- 5U -- 50 U -- MW-116D 02/17/16 2U -- -- 1U 4U -- 0.2 U -- 5U -- 50 U -- (Ryerson Creek 07/01/20 5U -- -- 1U 4U -- 0.2 U -- 5U -- 10 U -- 12/08/20 5U -- -- 2U 5U -- 0.2 U -- 5U -- 10 U -- 11/16/15 2U -- -- 1U 4U -- 0.2 U -- 5U -- 150 -- 02/17/16 2U -- -- 1U 4.8 -- 0.2 U -- 5U -- 230 -- 04/07/16 -- -- -- -- -- -- -- -- -- -- 320 -- MW-116S 05/25/16 -- -- -- -- -- -- -- -- -- 290 300 -- (Ryerson Creek) 03/23/17 -- -- 200 -- -- -- -- -- -- -- -- -- 07/01/20 5U -- -- 1U 4U -- 0.2 U -- 5U -- 7.1 J -- 12/08/20 5U -- -- 2U 5U -- 0.2 U -- 5U -- 10 U -- 11/17/15 -- -- -- 1U 4U -- 0.2 U 20 U 5U -- 50 U -- MW-118D 02/18/16 -- -- -- 1U 4U -- 0.2 U 20 U 5U -- 50 U -- (Muskegon Lake) 07/01/20 -- -- -- 1U 4U -- 0.2 U 5U 5U -- 14 J -- 12/08/20 -- -- -- 2U 5U -- 0.2 U 5U 0.56 J -- 10 U -- \\ftch\allprojects\2001\01060E\WORK\Rept\Site Char Rpt 2020\Tables\TBL13_GW-Metals-sum_2020_1230.xlsx 1/11/2021 Fishbeck | 2 of 2 Table 13 - Groundwater Data Summary (2015-2020) - Metals and Cyanide Former Teledyne Continental Motors Site Muskegon, Michigan Zinc, Zinc, Monitoring Location Collection Field Antimony Arsenic (B) Barium (B) Cadmium (B) Copper (B) Lead (B) Mercury (B) Nickel (B) Selenium (B) Cyanide (4) Dissolved (B) Total (B) (Receiving Surface Water) Date Duplicate [7440-36-0] [7440-38-2] [7440-39-3] [7440-43-9] [7440-50-8] [7439-92-1] [7439-97-6] [7440-02-0] [7782-49-2] [7440-66-6] [7440-66-6] [57-12-5] 11/17/15 -- -- -- 1U 4U -- 0.2 U 20 U 5U -- 50 U -- MW-118S 02/18/16 -- -- -- 1U 4U -- 0.2 U 20 U 5U -- 50 U -- (Muskegon Lake) 07/01/20 -- -- -- 1U 4U -- 0.2 U 2.2 J 0.64 J -- 4.9 J -- 12/08/20 -- -- -- 2U 5U -- 0.2 U 2.0 J 5U -- 10 U -- 11/16/15 -- -- 120 -- -- -- 0.2 U -- -- -- -- 5U offsite 02/18/16 -- -- 200 -- -- -- 0.2 U -- -- -- -- 5U MW-120S 03/23/17 -- -- 340 -- -- -- -- -- -- -- -- -- (Muskegon Lake) 07/02/20 -- -- 160 -- -- 5U -- -- -- -- -- 4U 12/08/20 -- -- 190 -- -- -- 0.2 U -- -- -- -- 2U 11/16/15 -- -- 1,200 1U 4U -- 0.2 U 20 U 5U -- 50 U 5U 11/16/15 X -- -- 1,200 1U 4U -- 0.2 U 20 U 5U -- 50 U 5U 02/17/16 -- -- 1,000 1U 4U -- 0.2 U 20 U 5U -- 50 U 5U 02/17/16 X -- -- 1,000 1U 4U -- 0.2 U 20 U 5U -- 50 U 7.3 MW-121S 04/07/16 -- -- -- -- -- -- -- -- -- -- -- 5U (Ryerson Creek) 03/23/17 -- -- 1,100 -- -- -- -- -- -- -- -- -- 03/23/17 X -- -- 1,000 -- -- -- -- -- -- -- -- -- 07/01/20 -- -- 6,800 1U 4U -- 0.2 U 5U 5U -- 10 U 4U 07/01/20 X -- -- 6,600 1U 4U -- 0.2 U 5U 5U -- 6.8 J 2U (1) Residential DWC 6.0 10 2,000 5.0 1,000 (E) 4.0 (L) 2.0 100 50 2,400 2,400 200 GSI Criteria (Muskegon Lake) (1) 130 (X) 10 870 (G) 3.6 (G,X) 15 (G) 41 (G,X) 0.0013 (3) 90 (G) 5.0 200 (G) 200 (G) 5.2 GSI Criteria (Ryerson Creek) (1) 130 (X) 10 4,800/5,800 (2) 4.2 (G,X) 18 (G) 48 (G,X) 0.0013 (3) 110 (G) 5.0 240 (G) 240 (G) 5.2 Results expressed in µg/L; total metals concentrations unless otherwise noted. Bolded values exceed an applicable criterion. Data Qualifiers: U Not detected Footnotes/Abbreviations: (1) Part 201 Groundwater Generic Cleanup Criteria/Part 213 Tier 1 Risk-based Screening Levels, January 10, 2018 (GSI Criteria Updated June 25, 2018). (2) Values represent chronic/acute mixing zone-based criteria per mixing zone determination dated December 11, 2018. (3) Criterion is applicable only if action level of 0.2 µg/L is exceeded. (4) Amenable cyanide results are reported for 2015 through 2017 monitoring events; available cyanide results are reported for 2020 sampling event. (B) Background, as defined in R 299.5701(b), may be substituted if higher than the calculated criterion. (E) Aesthetic drinking water value. Notice of aesthetic impact may be employed as an institutional control if concentration exceeds the aesthetic DWC but not the health-based DW value. (G) Criterion dependent on receiving surface water hardness; On 11/16/15, Muskegon Lake water hardness was measured at 190 mg/L, Ryerson Creek water hardness was measured at 232 mg/L. MW-106S, MW-107S, MW-107D, MW-112RS, MW-118S, MW-118D, and MW-120S should be evaluated against the GSI criteria calculated with the Muskegon Lake water hardness of 190 mg/L. MW-109S, MW-109D, MW-110S, MW-116S, MW-116D, and 121S should be evaluated against the GSI criteria calculated with the Ryerson Creek water hardness of 232 mg/L. (L) Concentrations up to the State action level of 15 µg/L may still allow for drinking water use if soil concentrations are below 400 mg/Kg. (X) Criterion not protective for surface water used as a drinking water source. DWC drinking water criterion GSI groundwater surface water interface ID Insufficient data to develop criterion. NA not available \\ftch\allprojects\2001\01060E\WORK\Rept\Site Char Rpt 2020\Tables\TBL13_GW-Metals-sum_2020_1230.xlsx 1/11/2021 Attachment C Resolutions Approving the Brownfield Plan Amendment Attachment D Reimbursement Agreement Agenda Item B - BRA Muskegon Brownfield Redevelopment Authority Agenda Item for 11-9-21 Ryerson Creek Land Co, LLC, 60 Viridian Drive Trilogy Senior Housing Redevelopment Project Development and Reimbursement Agreement Requesting party: Ryerson Creek Land Co, LLC Outline of the request: Ryerson Creek Land Co, LLC has submitted a Development and Reimbursement Agreement for the approved Brownfield Plan for Trilogy Senior Housing Redevelopment Project at Harbor 31 - a senior housing development on 5 acres located at 60 Viridian Drive along the south shore of Muskegon Lake. Background: The 5-acre property is the site of the former Teledyne Continental Motors industrial facility. A Brownfield Plan Amendment was previously approved to facilitate the construction of an approximately 63,000 square foot multi-story 118-unit senior living building with surrounding asphalt parking areas, concrete walkways and landscaping. Staff comments: 1. The Brownfield Plan Amendment was approved by the Authority on October 12, 2021 and the City Commission on October 26, 2021. 2. The Brownfield Plan is for a period of 27 years and includes total Brownfield Eligible Activity costs estimated at $4,392,244. 3. The property is within the DDA and it is anticipated that all taxes captured will go towards the Brownfield TIF during the life of the Plan. 4. Eligible costs include due care, environmental response activities, demolition, site preparation, infrastructure improvements, Brownfield Plan preparation, administration costs, and interest expense (4%). 5. The Development & Reimbursement Agreement outlines the procedures for the City to reimburse the Developer for eligible expenses within the Brownfield Plan. The Authority shall pay 100% of the available Brownfield TIF Revenue to the Developer to reimburse the costs of Developer Eligible Activities. 6. The Developer will provide the BRA a request for payment of eligible expenses. The BRA has 30 days to approve the request. Payments are made on a semi-annual basis when incremental local taxes are captured and available. Staff recommendation: Staff has reviewed the Development and Reimbursement Agreement, along with the city attorney, and recommends approval. Suggested motion: I move to approve/disapprove the Development and Reimbursement Agreement for the approved Brownfield Plan for Ryerson Creek Land Co, LLC (Trilogy Senior Housing Redevelopment Project). City of Muskegon Brownfield Redevelopment Authority County of Muskegon, State of Michigan RESOLUTION APPROVING BROWNFIELD DEVELOPMENT AND REIMBURSEMENT AGREEMENT Viridian Land Shores Co, LLC Viridian Shores at Harbor 31 Redevelopment Project Minutes of a meeting of the Board of the City of Muskegon Brownfield Redevelopment Authority (“Authority”), County of Muskegon, State of Michigan, held in the City Hall on the 9th of November, 2021 at 10:30 a.m., prevailing Eastern Time. PRESENT: Members _________________________________________________________ _________________________________________________________________ _________________________________________________________________ ABSENT: Members ________________________________________________________ _________________________________________________________________ The following preamble and resolution were offered by Member ________________ and supported by Member ________________: WHEREAS, the Authority approved a Brownfield Plan Amendment to include the Viridian Shores at Harbor 31 Redevelopment Project (“Project”) during its meeting on May 11, 2021; WHEREAS, the Viridian Shores at Harbor 31 Redevelopment Project Brownfield Plan Amendment includes tax increment financing to pay for certain eligible activities related to the Project; WHEREAS, a Development and Reimbursement Agreement between the City and Viridian Land Shores Co, LLC has been negotiated to provide for reimbursement of the costs of eligible activities identified in the Brownfield Plan Amendment. NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: 1. The Development and Reimbursement Agreement between the City and Viridian Land Shores Co, LLC for the Viridian Shores at Harbor 31 Redevelopment Project Brownfield Plan Amendment is necessary to facilitate the implementation of the Brownfield Plan. 2. The Authority hereby approves the Development and Reimbursement Agreement for the Viridian Shores at Harbor 31 Redevelopment Project Brownfield Plan, and recommends the approval of the Agreement by the Muskegon City Commission. 3. Repealer. All resolutions and parts of resolution in conflict with the provisions of this resolution are hereby repealed or amended to the extent of such conflict. AYES: _______________________________________________________________ _______________________________________________________________ _______________________________________________________________ NAYS: _______________________________________________________________ _______________________________________________________________ RESOLUTION DECLARED ADOPTED. _____________________________ Secretary -2- I hereby certify that the foregoing is a true and complete copy of a resolution adopted by the Board of the City of Muskegon Brownfield Redevelopment Authority, County of Muskegon, State of Michigan, at a meeting held on November 9th, 2021, and that said meeting was conducted and public notice of said meeting was given pursuant to and in full compliance with the Open Meetings Act, being Act 267, Public Acts of Michigan, 1976, and that the minutes of said meeting were kept and will be or have been made available as required by said Act. _____________________________ Secretary -3- DEVELOPMENT AND REIMBURSEMENT AGREEMENT This DEVELOPMENT AND REIMBURSEMENT AGREEMENT (the “Agreement”) is made on , , by and among the CITY OF MUSKEGON BROWNFIELD REDEVELOPMENT AUTHORITY, a Michigan public body corporate whose address is 933 Terrace Street, Muskegon, Michigan 49443 (the “Authority”), the CITY OF MUSKEGON, a public body corporate whose address is 933 Terrace Street, Muskegon, Michigan 49443 (the “City”), and Ryerson Creek Land Co., LLC, a Michigan limited liability company whose address is 2325 Belmont Center Drive NE, Belmont, Michigan 49306 (the “Developer”). RECITALS A. Pursuant to P.A. 381 of 1996, as amended (“Act 381”), the Authority approved and recommended a Brownfield Plan which was duly approved by the City (the “Plan”). The Plan was amended on (the “Amendment,” and, together with the Plan, the “Brownfield Plan” – See Exhibit A) to identify a new senior housing redevelopment project proposed by the Developer. B. The Brownfield Plan includes specific eligible activities associated with the Developer’s plan to develop approximately 5 acres of land located at 60 Viridian Drive in Muskegon, Michigan (collectively, the “Developer Property”). C. The Developer owns the Developer Property, which is included in the Brownfield Plan as an “eligible property” because it was determined to be a “facility”, as defined by Part 201 of the Natural Resources and Environmental Protection Act (“Part 201”), or adjacent and contiguous to an “eligible property.” D. The Developer intends to conduct eligible activities on the Developer Property including the construction of an approximately 63,000 square foot multi-story senior housing building with surrounding asphalt parking areas, concrete walkways and landscaping (the “Project”), including department specific environmental activities, demolition, site preparation and infrastructure improvement activities, a 15% contingency and brownfield plan/work plan preparation and development, as described in the Brownfield Plan, with an estimated cost of $4,378,740 (the “Developer Eligible Activities”). All of the Developer Eligible Activities are eligible for reimbursement under Act 381. The total cost of the Eligible Activities, including contingencies and interest, are $4,392,244 (the “Total Eligible Brownfield TIF Costs”). E. Act 381 permits the Authority to capture and use local and certain school property tax revenues generated from the incremental increase in property value of a redeveloped brownfield site constituting an “eligible property” under Act 381 (the “Brownfield TIF Revenue”) to pay or to reimburse the payment of Eligible Activities conducted on the “eligible property.” The Brownfield TIF Revenue will be used to reimburse the Developer for the Developer Eligible Activities incurred and approved for the Project. F. In accordance with Act 381, the parties desire to establish the procedure for using the available Brownfield TIF Revenue generated from the Property to reimburse the Developer for completion of Eligible Activities on the Property in an amount not to exceed the Total Eligible Brownfield TIF Costs. NOW, THERFORE, the parties agree as follows: 1. Reimbursement Source. (a) During the Term (as defined below) of this Agreement, and except as set forth in paragraph 2 below, the Authority shall reimburse the Developer for the costs of their Eligible Activities conducted on the Developer Property from the Brownfield TIF Revenue collected from the real and taxable personal property taxes on the Developer Property. The amount reimbursed to the Developer for their Eligible Activities shall not exceed the Total Eligible Brownfield TIF Costs, and reimbursements shall be made on approved costs submitted and approved in connection with the Developer Eligible Activities, as follows: (i) the Authority shall pay 100% of available Brownfield TIF Revenue to Developer to reimburse the cost of the Developer Eligible Activities submitted and approved for reimbursement by the Authority until Developer is fully reimbursed; and (b) The Authority shall capture Brownfield TIF Revenue from the Property and reimburse the Developer for their Eligible Activities until the earlier of the Developer being fully reimbursed or December 31, 2051. Unless otherwise prepaid by the Authority, payments to the Developer shall be made on a semi-annual basis as incremental local taxes are captured and available. 2. Developer Reimbursement Process. (a) The Developer shall submit to the Authority, not more frequently than on a quarterly basis, a “Request for Cost Reimbursement” for Developer Eligible Activities paid for by the Developer during the prior period. All costs for the Developer Eligible Activities must be consistent with the approved Brownfield Plan. The Developer must include documentation sufficient for the Authority to determine whether the costs incurred were for Developer Eligible Activities, including detailed invoices and proof of payment. Copies of all invoices for Developer Eligible Activities must note what Developer Eligible Activities they support. (b) Unless the Authority disputes whether such costs are for Developer Eligible Activities within thirty (30) days after receiving a Request for Cost Reimbursement from the Developer, the Authority shall pay the Developer the amounts for which submissions have been made pursuant to paragraph 2(a) of this Agreement in accordance with the priority set forth in paragraph 1, from which the submission may be wholly or partially paid from available Brownfield TIF Revenue from the Developer Property. 2 (i) The Developer shall cooperate with the Authority’s review of its Request for Cost Reimbursement by providing supplemental information and documentation which may be reasonably requested by the Authority. (ii) If the Authority determines that requested costs are ineligible for reimbursement, the Authority shall notify the Developer in writing of its reasons for such ineligibility within the Authority’s thirty (30) day period of review. The Developer shall then have thirty (30) days to provide supplemental information or documents to the Authority demonstrating that the costs are for Developer Eligible Activities and are eligible for reimbursement. (c) If a partial payment is made to the Developer by the Authority because of insufficient Brownfield TIF Revenue captured in the semi-annual period for which reimbursement is sought, the Authority shall make additional payments toward the remaining amount within thirty (30) days of its receipt of additional Brownfield TIF Revenue from the Developer Property until all of the amounts for which submissions have been made have been fully paid to the Developer, or by the end of the Term (as defined below), whichever occurs first. The Authority is not required to reimburse the Developer from any source other than Brownfield TIF Revenue. (d) The Authority shall send all payments to the Developer by registered or certified mail, addressed to the Developer at the address shown above, or by electronic funds transfer directly to the Developer’s bank account. The Developer may change its address by providing written notice sent by registered or certified mail to the Authority. 4. Term of Agreement. The Authority’s obligation to reimburse the Developer for the Total Eligible Brownfield TIF Costs incurred by each party under this Agreement shall terminate the earlier of the date when all reimbursements to the Developer required under this Agreement have been made or December 31, 2051 (the “Term”). If the Brownfield TIF Revenue ends before all of the Total Eligible Brownfield TIF Costs have been fully reimbursed to the Developer, the last reimbursement payment by the Authority shall be paid from the summer and winter tax increment revenue collected during the final year of this Agreement. 5. Adjustments. If, due to an appeal of any tax assessment or reassessment of any portion of the Developer Property, or for any other reason, the Authority is required to reimburse any Brownfield TIF Revenue to any tax levying unit of government, the Authority may deduct the amount of any such reimbursement, including interest and penalties, from any amounts due and owing to the Developer. If all amounts due to the Developer under this Agreement have been fully paid or the Authority is no longer obligated to make any further 3 payments to the Developer, the Authority shall invoice the Developer for the amount of such reimbursement and the Developer shall pay the Authority such invoiced amount within thirty (30) days of the receipt of the invoice. Amounts withheld by or invoiced and paid to the Authority by the Developer pursuant to this paragraph shall be reinstated as Developer Eligible Activities, respectively, for which the Developer shall have the opportunity to be reimbursed in accordance with the terms, conditions, and limitations of this Agreement. Nothing in this Agreement shall limit the right of the Developer to appeal any tax assessment. 6. Legislative Authorization. This Agreement is governed by and subject to the restrictions set forth in Act 381. If there is legislation enacted in the future that alters or affects the amount of Brownfield TIF Revenue subject to capture, eligible property, or Eligible Activities, then the Developer’s rights and the Authority’s obligations under this Agreement shall be modified accordingly as required by law, or by agreement of the parties. 7. Notices. All notices shall be given by registered or certified mail addressed to the parties at their respective addresses as shown above. Any party may change the address by written notice sent by registered or certified mail to the other party. 8. Assignment. This Agreement and the rights and obligations under this Agreement shall not be assigned or otherwise transferred by any party without the consent of the other party, which shall not be unreasonably withheld, provided, however, the Developer may assign their interest in this Agreement to an affiliate without the prior written consent of the Authority if such affiliate acknowledges its obligations to the Authority under this Agreement upon assignment in writing on or prior to the effective date of such assignment, provided, further, that the Developer may each make a collateral assignment of their share of the Brownfield TIF Revenue for project financing purposes. As used in this paragraph, “affiliate” means any corporation, company, partnership, limited liability company, trust, sole proprietorship or other entity or individual which (a) is owned or controlled by the Developer, (b) owns or controls the Developer or (c) is under common ownership or control with the Developer. This Agreement shall be binding upon and inure to the benefit of any successors or permitted assigns of the parties. 9. Entire Agreement. This Agreement supersedes all agreements previously made between the parties relating to the subject matter. There are no other understandings or agreements between the parties. 4 10. Non-Waiver. No delay or failure by either party to exercise any right under this Agreement, and no partial or single exercise of that right, constitutes a waiver of that or any other right, unless otherwise expressly provided herein. 11. Governing Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Michigan. 12. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. [Signature page follows] 5 The parties have executed this Agreement on the date set forth above. CITY OF MUSKEGON BROWNFIELD REDEVELOPMENT AUTHORITY By: Its: Ryerson Creek Land Co., LLC By: Its: 19886336-2 Signature Page to Development and Reimbursement Agreement City of Muskegon Brownfield Redevelopment Authority Brownfield Plan Amendment for the Trilogy Senior Housing Redevelopment Project at Harbor 31 60 Viridian Drive Muskegon, Michigan Approved by the City of Muskegon Brownfield Redevelopment Authority Approved by the City of Muskegon Board of Commissioners Prepared with the assistance of: Fishbeck 1515 Arboretum Drive SE Grand Rapids, Michigan 49546 616-464-3876 Table of Contents Fishbeck | Page i 1.0 Introduction ...................................................................................................................................................1 1.1 Proposed Redevelopment and Future Use for the Eligible Property ................................................1 1.2 Eligible Property Information ............................................................................................................1 2.0 Information Required by Section 13(2) of the Statute ...................................................................................2 2.1 Description of Costs to Be Paid for With Tax Increment Revenues ..................................................2 2.2 Summary of Eligible Activities ...........................................................................................................3 2.3 Estimate of Captured Taxable Value and Tax Increment Revenues ..................................................4 2.4 Maximum Amount of Note or Bonded Indebtedness .......................................................................4 2.5 Duration of Brownfield Plan..............................................................................................................4 2.6 Estimated Impact of Tax Increment Financing on Revenues of Taxing Jurisdiction ..........................5 2.7 Legal Description, Property Map, Statement of Qualifying Characteristics and Personal Property..5 2.8 Estimates of Residents and Displacement of Individuals/Families....................................................5 2.9 Plan for Relocation of Displaced Persons..........................................................................................5 2.10 Provisions for Relocation Costs .........................................................................................................5 2.11 Strategy for Compliance with Michigan’s Relocation Assistance Law...............................................5 2.12 Other Material that the Authority or Governing Body Considers Pertinent .....................................5 List of Figures Figure 1 – Location Map Figure 2 – Site Layout Map Figure 3- Previous Sampling Locations Map List of Tables Table 2 – Tax Increment Revenue Capture Table 3 – Tax Increment Revenue Reimbursement Allocation List of Attachments Attachment A Brownfield Plan Amendment Resolution(s) Attachment B Conceptual Renderings Attachment C Environmental Data Tables and Map Attachment D Reimbursement Agreement October 5, 2021 Fishbeck | Page 1 1.0 Introduction The City of Muskegon Brownfield Redevelopment Authority (the “Authority” or MBRA) was established by the City of Muskegon pursuant to the Brownfield Redevelopment Financing Act, Michigan Public Act 381 of 1996, as amended (“Act 381”). The primary purpose of Act 381 is to encourage the redevelopment of eligible property by providing economic development incentives through tax increment financing for certain eligible properties. This Brownfield Plan Amendment (“Plan Amendment”) serves as an amendment to the City of Muskegon’s existing Brownfield Plan, allowing inclusion of the eligible property described in Sections 1.1 and 1.2 below. Incorporation of eligible property into the City’s Brownfield Plan permits the use of tax increment financing to reimburse Ryerson Creek Land Co., LLC (“Developer”) for the cost of eligible activities required to redevelop the eligible property. See Attachment A for copies of Plan Amendment resolutions. 1.1 Proposed Redevelopment and Future Use for the Eligible Property The Developer is proposing to redevelop a portion of the former Continental Motors industrial site located at 60 Viridian Drive, Muskegon, Michigan (the “Property”). Proposed redevelopment activities include the construction of an approximately 63,000 square foot multi-story senior housing building with surrounding asphalt parking areas, concrete walkways and landscaping (the “Project”). The Project will create a walkable community that provides access to Muskegon Lake, greenspace areas, and downtown Muskegon. Sustainable development concepts are proposed throughout the Project including green building techniques and low-impact development stormwater management. Total private investment, not including property acquisition, is approximately $15,000,000. The development will create approximately 10-20 new jobs (office and maintenance). Project renderings are provided as Attachment B. The development is expected to start in Spring 2022 and continue through 2023. 1.2 Eligible Property Information The approximately 5-acre Property is located in downtown Muskegon along the south shore of Muskegon Lake. The Property has been historically utilized for industrial purposes dating back to the 1800s. Based on a Phase II Environmental Site Assessment (ESA) completed in 2018 and historical environmental investigations conducted over the past 25 years, these past industrial uses have resulted in widespread contamination across the Property. Known contaminants in the soil with concentrations exceeding Michigan Department of Environment, Great Lakes, and Energy (EGLE) Part 201 Generic Residential Cleanup Criteria (GRCC) include heavy metals and volatile organic compound (VOCs). Groundwater contaminants with concentrations identified above Part 201 GRCC consist of VOCs. The Developer did not cause the contamination and completed a Baseline Environmental Assessment (BEA) in accordance with Part 201 of the Natural Resources and Environmental Protect Act, 1995 PA 451, as amended (NREPA). Given the known contamination, the Property is a “facility” pursuant to Part 201 of NREPA. As such, it is considered an “eligible property” as defined by the Michigan Redevelopment Financing Act, Act 381 of 1996. Maps depicting the location and layout of the Property are attached as Figures 1 and 2. Environmental data tables and figure showing the locations of soil and groundwater contamination are provided in Attachment C and Figure 3, respectively. Z:\2021\210653\WORK\REPT\BROWNFIELD PLAN AMENDMENT\TRILOGY\TRILOGY-BROWNFIELD PLAN AMENDMENT_2021_1005_ DRAFT.DOCX October 6, 2021 Fishbeck | Page 2 2.0 Information Required by Section 13(2) of the Statute 2.1 Description of Costs to Be Paid for With Tax Increment Revenues Act 381 provides pre-approval for certain activities that have been conducted at the Property. Additional activities require BRA approval for reimbursement from local, school operating, and state education taxes. Tax increment revenues will be used to reimburse the Developer for the following eligible activities. Tables 1a, 1b and 1c below provide an eligible activity cost summary for the Project. Table 1a-Summary of Eligible Activity Costs EGLE Eligible Activities Estimated Cost Department Specific Activities 1. Pre-Approved Sub-Total a. Site Assessment and BEA Activities $50,000 b. Due Care Planning $50,000 c. Documentation of Due Care Compliance $2,500 d. Health and Safety Plan/Soil Management Plan $7,000 EGLE Eligible Activities Sub-Total $109,500 Brownfield Plan Amendment $5,000 Brownfield Plan Amendment Implementation $5,000 EGLE ELIGIBLE ACTIVITIES TOTAL COST $119,500 Table 1b-Summary of Eligible Activity Costs Local Only EGLE Environmental Eligible Activities Estimated Cost 2. Due Care (Sub-Total) $800,000 a. Volatilization to Indoor Air Mitigation $300,000 b. Engineered Barriers $350,000 c. Dewatering $150,000 Local Only EGLE Eligible Activities Sub-Total $800,000 Contingency- EGLE Environmental Eligible Activities (15%) $120,000 Local Only EGLE ELIGIBLE ACTIVITIES TOTAL COST $920,000 Z:\2021\210653\WORK\REPT\BROWNFIELD PLAN AMENDMENT\TRILOGY\TRILOGY-BROWNFIELD PLAN AMENDMENT_2021_1005_ DRAFT.DOCX October 6, 2021 Fishbeck | Page 3 Table 1c-Summary of Eligible Activity Costs Local Only MSF Eligible Activities Estimated Cost 3. Demolition (Sub-Total) $10,000 4. Public Infrastructure Improvement (Sub-Total) $490,000 a. Water Mains $70,000 b. Sanitary Sewer Mains $45,000 c. Storm Sewer $170,000 d. City Roadway Reconfiguration $205,000 5. Site Preparation (Sub-Total) $781,968 a. Clearing and Grubbing $5,000 b. Geotechnical Engineering & Investigation $105,000 c. Grading and Land Balancing $671,968 Local only MSF Eligible Activities Sub-Total $1,281,968 Contingency- MSF Non-Environmental Eligible Activities (15%) $192,295 Interest (4%)* $1,864,977 LOCAL ONLY MSF ELIGIBLE ACTIVITIES TOTAL COST $3,339,240 *Interest calculated yearly based on eligible activity costs accrued Total EGLE and local only environmental and MSF eligible activities costs is $4,378,740 2.2 Summary of Eligible Activities Eligible activities as defined by Act 381 and included in this Plan Amendment consist of the following: Pre-Approved Department Specific Activities: These activities are permitted to occur prior to Plan Amendment approval. Preparation of a Phase I ESA, BEA and due care documents are necessary to protect the new Property owner/Developer from cleanup liability for environmental contamination. Additional due care assessment and/or planning activities are anticipated, including but not limited to preparation of a soil management plan, health and safety plan, mercury soil gas testing and incremental soil sampling to determine direct contact obligations. Pre- approved activities can be reimbursed from state school and local tax increment revenues. Due Care Activities: Due care activities will include implementation of a vapor intrusion mitigation system, as applicable, to prevent unacceptable exposures to potential indoor air inhalation concerns. Engineered barriers will be utilized to protect against any potential direct contact concerns related to known contamination, if necessary. During construction activities, dewatering may be necessary. Contaminated groundwater will be properly managed to comply with due care. Due care costs will include environmental consultant oversight and management. Demolition: Select Site demolition will be necessary to facilitate safe redevelopment and reuse of the Property. Z:\2021\210653\WORK\REPT\BROWNFIELD PLAN AMENDMENT\TRILOGY\TRILOGY-BROWNFIELD PLAN AMENDMENT_2021_1005_ DRAFT.DOCX October 6, 2021 Fishbeck | Page 4 Infrastructure Improvements: Infrastructure improvements include water, sanitary sewer and stormwater main upgrades. Costs will include oversight, management, and professional fees associated with these activities. Site Preparation: Site preparation is expected to include clearing and grubbing, geotechnical engineering, grading and land-balancing, engineered fill import and placement and temporary erosion control. Costs will include oversight, management, and professional fees associated with these activities. Contingency: A 15% is included for all eligible activities not already completed to accommodate unexpected conditions encountered during the project. Plan Amendment Preparation and Implementation: This Plan Amendment was required for authorization of reimbursement to the Developer from tax increment revenues under Public Act 381 of 1996, as amended. Implementation tasks include, but are not limited to the following: tracking contractor invoices, obtaining proof of payment, reviewing eligible activity expenses, and submitting reimbursement documentation to the City for processing. Interest: 4% interest is included for all accrued and unreimbursed eligible activity on a yearly basis. 2.3 Estimate of Captured Taxable Value and Tax Increment Revenues For the purposes of this Plan Amendment, the taxable value base year is 2021. The 2021 taxable value of the eligible property is $246,100. After completion of the development, the taxable value is estimated at $5,250,000. This Plan Amendment assumes a 1.5% annual increase in the taxable value of the eligible property. Initial capture is anticipated to begin in 2026 (after the sunset of the Smart Zone tax abatement for the property in 2025). The estimated captured taxable value for the redevelopment by year and in aggregate for each taxing jurisdiction is depicted in tabular form (Table 2: Tax Increment Revenue Capture). Actual taxable values and tax increment revenues may vary year to year based on economic and market conditions, tax incentives, building additions, and property improvements, among other factors. A summary of the estimated reimbursement schedule by year and in aggregate is presented as Table 3: Tax Increment Revenue Reimbursement Allocation. Method of Financing and Description of Advances Made by the Municipality The cost of the eligible activities included in this Plan Amendment will be paid for by the Developer. The Developer will seek reimbursement for eligible activity costs through capture of available local and state (as applicable) tax increment revenues as permitted by Act 381. Refer to Attachment D for a copy of the Reimbursement Agreement. 2.4 Maximum Amount of Note or Bonded Indebtedness Bonds will not be issued for this Project. 2.5 Duration of Brownfield Plan Capture of tax increment revenues for Developer reimbursement is anticipated to commence in 2025 and end in 2049, a total of 27 years. This Plan Amendment assumes approximately three years of additional capture of tax increment revenues (following Developer reimbursement) for deposit into a Local Brownfield Revolving Fund, if available. Z:\2021\210653\WORK\REPT\BROWNFIELD PLAN AMENDMENT\TRILOGY\TRILOGY-BROWNFIELD PLAN AMENDMENT_2021_1005_ DRAFT.DOCX October 6, 2021 Fishbeck | Page 5 2.6 Estimated Impact of Tax Increment Financing on Revenues of Taxing Jurisdiction The estimated amount of tax increment revenues to be captured for this redevelopment from each taxing jurisdiction by year and in aggregate is presented in Tables 2 and 3. 2.7 Legal Description, Property Map, Statement of Qualifying Characteristics and Personal Property • The legal description is as follows: 60 Viridian Drive CITY OF MUSKEGON LAKESHORE SMARTZONE UNIT O SBJT TO ELECTRIC ESMT REC L/P 3591/578 SBJT TO ELECTIC EASEMENT REC L/P 3630/646 • The Property layout is depicted on Figure 2. • The Property is considered an “eligible property” as defined by Act 381 because the Property is a facility pursuant to Part 201. Facility verification is included in Attachment C. • New personal property added to the Property is included as part of the Eligible Property to the extent it is taxable. 2.8 Estimates of Residents and Displacement of Individuals/Families No residents or families will be displaced because of the Project. 2.9 Plan for Relocation of Displaced Persons Not applicable. 2.10 Provisions for Relocation Costs Not applicable. 2.11 Strategy for Compliance with Michigan’s Relocation Assistance Law Not applicable. 2.12 Other Material that the Authority or Governing Body Considers Pertinent The Project will significantly improve the Muskegon Lake shoreline through revitalization of Property once used for industrial purposes. The senior housing living center is part of a larger developer that will increase the City’s tax base, bring new permanent residences to the City of Muskegon, create new jobs and increase the local workforce. Z:\2021\210653\WORK\REPT\BROWNFIELD PLAN AMENDMENT\TRILOGY\TRILOGY-BROWNFIELD PLAN AMENDMENT_2021_1005_ DRAFT.DOCX Figure 1 Location Map Z:\2021\210653\WORK\REPT\BROWNFIELD PLAN AMENDMENT\TRILOGY\TRILOGY-BROWNFIELD PLAN AMENDMENT_2021_1005_ DRAFT.DOCX Muskegon East, Michigan 7.5 Minute Quadrangle Map (Published 1972; Photoinspected 1980) N SITE SCALE 1:24000 (1”=2,000’) 1 ½ 0 1 Mile CONTOUR INTERVAL 10 FEET Site Boundaries Shown are Approximate Topographic Map Figure 1 Vacant Commercial Property 60 Viridian Drive (Lot O) Muskegon, Michigan 49440 SES Project 2020-845 Figure 2 Site Layout Map Table 2 Tax Increment Revenue Capture Table 2- Estimate of Total Incremental Taxes Available for Capture 1 of 3 Trilogy at Harbor 31, Muskegon, Muskegon County, Michigan Estimated Taxable Value (TV) Increase Rate: 1.5% Plan Year 1 2 3 4 5 6 7 8 9 10 11 Calendar Year 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Base Taxable Value $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 Estimated New TV $ - $ 1,050,000 $ 5,250,000 $ 5,328,750 $ 5,408,681 $ 5,489,811 $ 5,572,159 $ 5,655,741 $ 5,740,577 $ 5,826,686 $ 5,914,086 $ 6,002,797 1 Incremental Difference (New TV - Base TV) $ - $ 803,900 $ 5,003,900 $ 5,082,650 $ 5,162,581 $ 5,243,711 $ 5,326,059 $ 5,409,641 $ 5,494,477 $ 5,580,586 $ 5,667,986 $ 5,756,697 School Capture Millage Rate State Education Tax (SET) 6.00000 $ - $ 4,823 $ 30,023 $ 30,496 $ 30,975 $ 31,462 $ 31,956 $ 32,458 $ 32,967 $ 33,484 $ 34,008 $ 34,540 School Operating Tax 17.98380 $ - $ 14,457 $ 89,989 $ 91,405 $ 92,843 $ 94,302 $ 95,783 $ 97,286 $ 98,812 $ 100,360 $ 101,932 $ 103,527 School Total 23.9838 $ - $ 19,281 $ 120,013 $ 121,901 $ 123,818 $ 125,764 $ 127,739 $ 129,744 $ 131,778 $ 133,844 $ 135,940 $ 138,067 Local Capture Millage Rate County Museum 0.32200 $ - $ 259 $ 1,611 $ 1,637 $ 1,662 $ 1,688 $ 1,715 $ 1,742 $ 1,769 $ 1,797 $ 1,825 $ 1,854 County Veterans 0.07150 $ - $ 57 $ 358 $ 363 $ 369 $ 375 $ 381 $ 387 $ 393 $ 399 $ 405 $ 412 Senior Citzens Services 0.49990 $ - $ 402 $ 2,501 $ 2,541 $ 2,581 $ 2,621 $ 2,662 $ 2,704 $ 2,747 $ 2,790 $ 2,833 $ 2,878 Central Dispatch 0.29999 $ - $ 241 $ 1,501 $ 1,525 $ 1,549 $ 1,573 $ 1,598 $ 1,623 $ 1,648 $ 1,674 $ 1,700 $ 1,727 Community College 2.20340 $ - $ 1,771 $ 11,026 $ 11,199 $ 11,375 $ 11,554 $ 11,735 $ 11,920 $ 12,107 $ 12,296 $ 12,489 $ 12,684 M.A.I.S.D 4.75410 $ - $ 3,822 $ 23,789 $ 24,163 $ 24,543 $ 24,929 $ 25,321 $ 25,718 $ 26,121 $ 26,531 $ 26,946 $ 27,368 City Operating 10.07540 $ - $ 8,100 $ 50,416 $ 51,210 $ 52,015 $ 52,832 $ 53,662 $ 54,504 $ 55,359 $ 56,227 $ 57,107 $ 58,001 City Sanitation 2.99790 $ - $ 2,410 $ 15,001 $ 15,237 $ 15,477 $ 15,720 $ 15,967 $ 16,218 $ 16,472 $ 16,730 $ 16,992 $ 17,258 Hackley Library 2.39970 $ - $ 1,929 $ 12,008 $ 12,197 $ 12,389 $ 12,583 $ 12,781 $ 12,982 $ 13,185 $ 13,392 $ 13,601 $ 13,814 MPS Sinking 0.99810 $ - $ 802 $ 4,994 $ 5,073 $ 5,153 $ 5,234 $ 5,316 $ 5,399 $ 5,484 $ 5,570 $ 5,657 $ 5,746 County Operating 5.69780 $ - $ 4,580 $ 28,511 $ 28,960 $ 29,415 $ 29,878 $ 30,347 $ 30,823 $ 31,306 $ 31,797 $ 32,295 $ 32,801 Local Total 30.3198 $ - $ 24,374 $ 151,717 $ 154,105 $ 156,528 $ 158,988 $ 161,485 $ 164,019 $ 166,591 $ 169,202 $ 171,852 $ 174,542 Non-Capturable Millages Millage Rate Community College Debt 0.34000 $ - $ 273 $ 1,701 $ 1,728 $ 1,755 $ 1,783 $ 1,811 $ 1,839 $ 1,868 $ 1,897 $ 1,927 $ 1,957 Hackley Debt 0.45320 $ - $ 364 $ 2,268 $ 2,303 $ 2,340 $ 2,376 $ 2,414 $ 2,452 $ 2,490 $ 2,529 $ 2,569 $ 2,609 MPS Debt - 1995 3.86000 $ - $ 3,103 $ 19,315 $ 19,619 $ 19,928 $ 20,241 $ 20,559 $ 20,881 $ 21,209 $ 21,541 $ 21,878 $ 22,221 MPS Debt - 2009 3.50000 $ - $ 2,814 $ 17,514 $ 17,789 $ 18,069 $ 18,353 $ 18,641 $ 18,934 $ 19,231 $ 19,532 $ 19,838 $ 20,148 Total Non-Capturable Taxes 8.1532 $ - $ 6,554 $ 40,798 $ 41,440 $ 42,092 $ 42,753 $ 43,424 $ 44,106 $ 44,798 $ 45,500 $ 46,212 $ 46,936 Total Tax Increment Revenue (TIR) Available for Capture $ - $ 43,655 $ 271,730 $ 276,006 $ 280,347 $ 284,752 $ 289,224 $ 293,763 $ 298,370 $ 303,046 $ 307,792 $ 312,609 Note- For the purpose of Table 2 the new taxable value is estimated based on 35% of a total overal investment of $15,000,000 divided over the two years estimated for construction of the project Z:\2021\210653\WORK\Rept\Brownfield Plan Amendment\Trilogy\Senior Housing TIF Table\TB 1 TBL02 and TBL03_TIF_ harbor 31 Senior housing- Smart Zone.xlsx Table 2- Estimate of Total Incremental Taxes Available for Capture 2 of 3 Trilogy at Harbor 31, Muskegon, Muskegon County, Michigan Estimated Taxable Value (TV) Increase Rate: Plan Year 12 13 14 15 16 17 18 19 20 21 22 23 24 Calendar Year 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 Base Taxable Value $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 Estimated New TV $ 6,092,839 $ 6,184,232 $ 6,276,995 $ 6,371,150 $ 6,466,718 $ 6,563,718 $ 6,662,174 $ 6,762,107 $ 6,863,538 $ 6,966,491 $ 7,070,989 $ 7,177,054 $ 7,284,709 1 Incremental Difference (New TV - Base TV) $ 5,846,739 $ 5,938,132 $ 6,030,895 $ 6,125,050 $ 6,220,618 $ 6,317,618 $ 6,416,074 $ 6,516,007 $ 6,617,438 $ 6,720,391 $ 6,824,889 $ 6,930,954 $ 7,038,609 School Capture Millage Rate State Education Tax (SET) 6.00000 $ 35,080 $ 35,629 $ 36,185 $ 36,750 $ 37,324 $ 37,906 $ 38,496 $ 39,096 $ 39,705 $ 40,322 $ 40,949 $ 41,586 $ 42,232 School Operating Tax 17.98380 $ 105,147 $ 106,790 $ 108,458 $ 110,152 $ 111,870 $ 113,615 $ 115,385 $ 117,183 $ 119,007 $ 120,858 $ 122,737 $ 124,645 $ 126,581 School Total 23.9838 $ 140,227 $ 142,419 $ 144,644 $ 146,902 $ 149,194 $ 151,520 $ 153,882 $ 156,279 $ 158,711 $ 161,181 $ 163,687 $ 166,231 $ 168,813 Local Capture Millage Rate County Museum 0.32200 $ 1,883 $ 1,912 $ 1,942 $ 1,972 $ 2,003 $ 2,034 $ 2,066 $ 2,098 $ 2,131 $ 2,164 $ 2,198 $ 2,232 $ 2,266 County Veterans 0.07150 $ 418 $ 425 $ 431 $ 438 $ 445 $ 452 $ 459 $ 466 $ 473 $ 481 $ 488 $ 496 $ 503 Senior Citzens Services 0.49990 $ 2,923 $ 2,968 $ 3,015 $ 3,062 $ 3,110 $ 3,158 $ 3,207 $ 3,257 $ 3,308 $ 3,360 $ 3,412 $ 3,465 $ 3,519 Central Dispatch 0.29999 $ 1,754 $ 1,781 $ 1,809 $ 1,837 $ 1,866 $ 1,895 $ 1,925 $ 1,955 $ 1,985 $ 2,016 $ 2,047 $ 2,079 $ 2,112 Community College 2.20340 $ 12,883 $ 13,084 $ 13,288 $ 13,496 $ 13,707 $ 13,920 $ 14,137 $ 14,357 $ 14,581 $ 14,808 $ 15,038 $ 15,272 $ 15,509 M.A.I.S.D 4.75410 $ 27,796 $ 28,230 $ 28,671 $ 29,119 $ 29,573 $ 30,035 $ 30,503 $ 30,978 $ 31,460 $ 31,949 $ 32,446 $ 32,950 $ 33,462 City Operating 10.07540 $ 58,908 $ 59,829 $ 60,764 $ 61,712 $ 62,675 $ 63,653 $ 64,645 $ 65,651 $ 66,673 $ 67,711 $ 68,763 $ 69,832 $ 70,917 City Sanitation 2.99790 $ 17,528 $ 17,802 $ 18,080 $ 18,362 $ 18,649 $ 18,940 $ 19,235 $ 19,534 $ 19,838 $ 20,147 $ 20,460 $ 20,778 $ 21,101 Hackley Library 2.39970 $ 14,030 $ 14,250 $ 14,472 $ 14,698 $ 14,928 $ 15,160 $ 15,397 $ 15,636 $ 15,880 $ 16,127 $ 16,378 $ 16,632 $ 16,891 MPS Sinking 0.99810 $ 5,836 $ 5,927 $ 6,019 $ 6,113 $ 6,209 $ 6,306 $ 6,404 $ 6,504 $ 6,605 $ 6,708 $ 6,812 $ 6,918 $ 7,025 County Operating 5.69780 $ 33,314 $ 33,834 $ 34,363 $ 34,899 $ 35,444 $ 35,997 $ 36,558 $ 37,127 $ 37,705 $ 38,291 $ 38,887 $ 39,491 $ 40,105 Local Total 30.3198 $ 177,272 $ 180,043 $ 182,855 $ 185,710 $ 188,608 $ 191,549 $ 194,534 $ 197,564 $ 200,639 $ 203,761 $ 206,929 $ 210,145 $ 213,409 Non-Capturable Millages Millage Rate Community College Debt 0.34000 $ 1,988 $ 2,019 $ 2,051 $ 2,083 $ 2,115 $ 2,148 $ 2,181 $ 2,215 $ 2,250 $ 2,285 $ 2,320 $ 2,357 $ 2,393 Hackley Debt 0.45320 $ 2,650 $ 2,691 $ 2,733 $ 2,776 $ 2,819 $ 2,863 $ 2,908 $ 2,953 $ 2,999 $ 3,046 $ 3,093 $ 3,141 $ 3,190 MPS Debt - 1995 3.86000 $ 22,568 $ 22,921 $ 23,279 $ 23,643 $ 24,012 $ 24,386 $ 24,766 $ 25,152 $ 25,543 $ 25,941 $ 26,344 $ 26,753 $ 27,169 MPS Debt - 2009 3.50000 $ 20,464 $ 20,783 $ 21,108 $ 21,438 $ 21,772 $ 22,112 $ 22,456 $ 22,806 $ 23,161 $ 23,521 $ 23,887 $ 24,258 $ 24,635 Total Non-Capturable Taxes 8.1532 $ 47,670 $ 48,415 $ 49,171 $ 49,939 $ 50,718 $ 51,509 $ 52,312 $ 53,126 $ 53,953 $ 54,793 $ 55,645 $ 56,509 $ 57,387 Total Tax Increment Revenue (TIR) Available for Capture $ 317,499 $ 322,462 $ 327,499 $ 332,612 $ 337,802 $ 343,069 $ 348,416 $ 353,843 $ 359,351 $ 364,941 $ 370,616 $ 376,376 $ 382,222 Note- For the purpose of Table 2 the new taxable value is estimated based on 35% of a total overal investment of $15,000,000 divided over the two years estimated for construction of the project Z:\2021\210653\WORK\Rept\Brownfield Plan Amendment\Trilogy\Senior Housing TIF Table\TB 1 TBL02 and TBL03_TIF_ harbor 31 Senior housing- Smart Zone.xlsx Table 2- Estimate of Total Incremental Taxes Available for Capture 3 of 3 Trilogy at Harbor 31, Muskegon, Muskegon County, Michigan Estimated Taxable Value (TV) Increase Rate: Plan Year 25 26 27 28 29 30 TOTAL Calendar Year 2046 2047 2048 2049 2050 2051 Base Taxable Value $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ 246,100 $ - Estimated New TV $ 7,393,980 $ 7,504,890 $ 7,617,463 $ 7,731,725 $ 7,847,701 $ 7,965,416 $ - 1 Incremental Difference (New TV - Base TV) $ 7,147,880 $ 7,258,790 $ 7,371,363 $ 7,485,625 $ 7,601,601 $ 7,719,316 $ - School Capture Millage Rate State Education Tax (SET) 6.00000 $ 42,887 $ 43,553 $ 44,228 $ 44,914 $ 45,610 $ 46,316 $ 1,095,961 School Operating Tax 17.98380 $ 128,546 $ 130,541 $ 132,565 $ 134,620 $ 136,706 $ 138,823 $ 3,284,924 School Total 23.9838 $ 171,433 $ 174,093 $ 176,793 $ 179,534 $ 182,315 $ 185,139 $ 4,380,885 Local Capture Millage Rate County Museum 0.32200 $ 2,302 $ 2,337 $ 2,374 $ 2,410 $ 2,448 $ 2,486 $ 58,817 County Veterans 0.07150 $ 511 $ 519 $ 527 $ 535 $ 544 $ 552 $ 13,060 Senior Citzens Services 0.49990 $ 3,573 $ 3,629 $ 3,685 $ 3,742 $ 3,800 $ 3,859 $ 91,312 Central Dispatch 0.29999 $ 2,144 $ 2,178 $ 2,211 $ 2,246 $ 2,280 $ 2,316 $ 54,796 Community College 2.20340 $ 15,750 $ 15,994 $ 16,242 $ 16,494 $ 16,749 $ 17,009 $ 402,473 M.A.I.S.D 4.75410 $ 33,982 $ 34,509 $ 35,044 $ 35,587 $ 36,139 $ 36,698 $ 868,385 City Operating 10.07540 $ 72,018 $ 73,135 $ 74,269 $ 75,421 $ 76,589 $ 77,775 $ 1,840,374 City Sanitation 2.99790 $ 21,429 $ 21,761 $ 22,099 $ 22,441 $ 22,789 $ 23,142 $ 547,597 Hackley Library 2.39970 $ 17,153 $ 17,419 $ 17,689 $ 17,963 $ 18,242 $ 18,524 $ 438,330 MPS Sinking 0.99810 $ 7,134 $ 7,245 $ 7,357 $ 7,471 $ 7,587 $ 7,705 $ 182,313 County Operating 5.69780 $ 40,727 $ 41,359 $ 42,001 $ 42,652 $ 43,312 $ 43,983 $ 1,040,761 Local Total 30.3198 $ 216,722 $ 220,085 $ 223,498 $ 226,963 $ 230,479 $ 234,048 $ 5,538,218 Non-Capturable Millages Millage Rate Community College Debt 0.34000 $ 2,430 $ 2,468 $ 2,506 $ 2,545 $ 2,585 $ 2,625 $ 62,104 Hackley Debt 0.45320 $ 3,239 $ 3,290 $ 3,341 $ 3,392 $ 3,445 $ 3,498 $ 82,782 MPS Debt - 1995 3.86000 $ 27,591 $ 28,019 $ 28,453 $ 28,895 $ 29,342 $ 29,797 $ 705,068 MPS Debt - 2009 3.50000 $ 25,018 $ 25,406 $ 25,800 $ 26,200 $ 26,606 $ 27,018 $ 639,311 Total Non-Capturable Taxes 8.1532 $ 58,278 $ 59,182 $ 60,100 $ 61,032 $ 61,977 $ 62,937 $ 1,489,265 Total Tax Increment Revenue (TIR) Available for Capture $ 388,156 $ 394,178 $ 400,291 $ 406,496 $ 412,794 $ 419,187 $ 9,919,103 Note- For the purpose of Table 2 the new taxable value is estimated based on 35% of a total overal investment of $15,000,000 divided over the two years estimated for construction of the project Z:\2021\210653\WORK\Rept\Brownfield Plan Amendment\Trilogy\Senior Housing TIF Table\TB 1 TBL02 and TBL03_TIF_ harbor 31 Senior housing- Smart Zone.xlsx Table 3 Tax Increment Revenue Reimbursement Allocation Table 3 - Estimate of Total Incremental Taxes Available for Reimbursement 1 of 2 Trilogy at Harbor 31, Muskegon, Muskegon County, Michigan Developer Maximum School & Reimbursement Local Taxes State $ 59,750 Local 4,318,990 Estimated Years of Capture: 30 years (including 2 years of LBRF capture) TOTAL $ 4,378,740 EGLE N/A MSF N/A 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 Total State Incremental Revenue $ - $ 19,281 $ 120,013 $ 121,901 $ 123,818 $ 125,764 $ 127,739 $ 129,744 $ 131,778 $ 133,844 $ 135,940 $ 138,067 $ 140,227 $ 142,419 $ 144,644 $ 146,902 $ 149,194 $ 151,520 State Brownfield Redevelopment Fund (50% of SET) $ - $ 15,731 State TIR Available for Reimbursement $ - $ 19,281 $ 120,013 $ 121,901 $ 123,818 $ 110,033 $ 127,739 $ 129,744 $ 131,778 $ 133,844 $ 135,940 $ 138,067 $ 140,227 $ 142,419 $ 144,644 $ 146,902 $ 149,194 $ 151,520 Total Local Incremental Revenue $ - $ 24,374 $ 151,717 $ 154,105 $ 156,528 $ 158,988 $ 161,485 $ 164,019 $ 166,591 $ 169,202 $ 171,852 $ 174,542 $ 177,272 $ 180,043 $ 182,855 $ 185,710 $ 188,608 $ 191,549 BRA Administrative Fee $ - $ 500 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 Smartzone Tax Abatement $ - $ 12,187 $ 75,859 $ 77,052 $ 78,264 Local TIR Available for Reimbursement $ - $ 11,687 $ 65,859 $ 67,052 $ 68,264 $ 148,988 $ 151,485 $ 154,019 $ 156,591 $ 159,202 $ 161,852 $ 164,542 $ 167,272 $ 170,043 $ 172,855 $ 175,710 $ 178,608 $ 181,549 Total State & Local TIR Available $ - $ 30,968 $ 185,871 $ 188,954 $ 192,083 $ 259,021 $ 279,224 $ 283,763 $ 288,370 $ 293,046 $ 297,792 $ 302,609 $ 307,499 $ 312,462 $ 317,499 $ 322,612 $ 327,802 $ 333,069 Beginning DEVELOPER Balance Developer Reimbursement Balance $ - $ - $ 598,353 $ 2,532,918 $ 2,629,455 $ 2,729,854 $ 2,834,269 $ 2,730,553 $ 2,682,231 $ 2,629,341 $ 2,571,660 $ 2,508,957 $ 2,440,990 $ 2,367,506 $ 2,288,244 $ 2,202,930 $ 2,111,278 $ 2,012,991 $ 1,907,759 Environmental Eligible Costs $ 119,500 $ - $ 119,500 $ 119,500 $ 119,500 $ 119,500 $ 119,500 State Tax Reimbursement $ 59,750 $ - $ - $ - $ - $ - $ 59,750 Local Tax Reimbursement $ 59,750 $ - $ - $ - $ - $ - $ 59,750 Total Environmental Reimbursement Balance $ - $ 119,500 $ 119,500 $ 119,500 $ 119,500 Local Only Eligible Costs $ 2,394,263 $ - $ 478,853 $ 2,413,418 $ 2,509,955 $ 2,610,354 $ 2,714,769 $ 2,730,553 $ 2,682,231 $ 2,629,341 $ 2,571,660 $ 2,508,957 $ 2,440,990 $ 2,367,506 $ 2,288,244 $ 2,202,930 $ 2,111,278 $ 2,012,991 $ 1,907,759 Local Tax Reimbursement $ 4,259,240 $ - $ - $ - $ - $ - $ 89,238 $ 151,485 $ 154,019 $ 156,591 $ 159,202 $ 161,852 $ 164,542 $ 167,272 $ 170,043 $ 172,855 $ 175,710 $ 178,608 $ 181,549 Interest (4%) $ 1,864,977 $ - $ 19,155 $ 96,537 $ 100,399 $ 104,415 $ 105,022 $ 103,163 $ 101,129 $ 98,910 $ 96,499 $ 93,885 $ 91,058 $ 88,010 $ 84,729 $ 81,203 $ 77,423 $ 73,376 $ 69,049 Total Non Environmental Reimbursement Balance $ - $ 498,008 $ 2,509,955 $ 2,610,354 $ 2,714,769 $ 2,730,553 $ 2,682,231 $ 2,629,341 $ 2,571,660 $ 2,508,957 $ 2,440,990 $ 2,367,506 $ 2,288,244 $ 2,202,930 $ 2,111,278 $ 2,012,991 $ 1,907,759 $ 1,795,259 Total Annual Developer Reimbursement $ - $ - $ - $ - $ - $ 208,738 $ 151,485 $ 154,019 $ 156,591 $ 159,202 $ 161,852 $ 164,542 $ 167,272 $ 170,043 $ 172,855 $ 175,710 $ 178,608 $ 181,549 LOCAL BROWNFIELD REVOLVING FUND LBRF Deposits * State Tax Capture $ 59,750 $ - $ - $ - $ - $ - $ - $ - $ - Local Tax Capture $ 472,502 $ - $ - $ - $ - $ - $ - $ - $ - Total LBRF Capture $ 532,252 $ - $ - $ - $ - $ - $ - $ - $ - * Up to five years of capture for LBRF Deposits after eligible activities are reimbursed. May be taken from EGLE & Local TIR only. Z:\2021\210653\WORK\Rept\Brownfield Plan Amendment\Trilogy\Senior Housing TIF Table\TB 1 TBL02 and TBL03_TIF_ harbor 31 Senior housing- Smart Zone.xlsx Table 3 - Estimate of Total Incremental Taxes Available for Reimbursement 2 of 2 Trilogy at Harbor 31, Muskegon, Muskegon County, Michigan Estimated Developer Capture $ 4,378,740 BRA Administrative Fee $ 290,500 State Brownfield Redevelopment Fund $ 15,731 Local Brownfield Revolving Fund $ 532,252 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 TOTAL Total State Incremental Revenue $ 153,882 $ 156,279 $ 158,711 $ 161,181 $ 163,687 $ 166,231 $ 168,813 $ 171,433 $ 174,093 $ 176,793 $ 179,534 $ 182,315 $ 185,139 $ 4,195,747 State Brownfield Redevelopment Fund (50% of SET) $ 15,731 State TIR Available for Reimbursement $ 153,882 $ 156,279 $ 158,711 $ 161,181 $ 163,687 $ 166,231 $ 168,813 $ 171,433 $ 174,093 $ 176,793 $ 179,534 $ 182,315 $ 185,139 $ 4,180,016 Total Local Incremental Revenue $ 194,534 $ 197,564 $ 200,639 $ 203,761 $ 206,929 $ 210,145 $ 213,409 $ 216,722 $ 220,085 $ 223,498 $ 226,963 $ 230,479 $ 234,048 $ 5,304,170 BRA Administrative Fee $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 290,500 Smartzone Tax Abatement $ 243,362 Local TIR Available for Reimbursement $ 184,534 $ 187,564 $ 190,639 $ 193,761 $ 196,929 $ 200,145 $ 203,409 $ 206,722 $ 210,085 $ 213,498 $ 216,963 $ 220,479 $ 224,048 $ 4,780,308 Total State & Local TIR Available $ 338,416 $ 343,843 $ 349,351 $ 354,941 $ 360,616 $ 366,376 $ 372,222 $ 378,156 $ 384,178 $ 390,291 $ 396,496 $ 402,794 $ 409,187 $ 8,960,323 DEVELOPER Developer Reimbursement Balance $ 1,795,259 $ 1,675,154 $ 1,547,094 $ 1,410,714 $ 1,265,632 $ 1,111,452 $ 947,760 $ 774,126 $ 590,101 $ 395,217 $ 188,988 $ - $ - Environmental Eligible Costs State Tax Reimbursement $ 59,750 Local Tax Reimbursement $ 59,750 Total Environmental Reimbursement Balance $ - Local Only Eligible Costs $ 1,795,259 $ 1,675,154 $ 1,547,094 $ 1,410,714 $ 1,265,632 $ 1,111,452 $ 947,760 $ 774,126 $ 590,101 $ 395,217 $ 188,988 $ - Local Tax Reimbursement $ 184,534 $ 187,564 $ 190,639 $ 193,761 $ 196,929 $ 200,145 $ 203,409 $ 206,722 $ 210,085 $ 213,498 $ 188,988 $ - $ 4,259,240 Interest (4%) $ 64,429 $ 59,504 $ 54,259 $ 48,679 $ 42,749 $ 36,453 $ 29,775 $ 22,697 $ 15,201 $ 7,269 $ - $ - $ 1,864,977 Total Non Environmental Reimbursement Balance$ 1,675,154 $ 1,547,094 $ 1,410,714 $ 1,265,632 $ 1,111,452 $ 947,760 $ 774,126 $ 590,101 $ 395,217 $ 188,988 $ - $ - Total Annual Developer Reimbursement $ 184,534 $ 187,564 $ 190,639 $ 193,761 $ 196,929 $ 200,145 $ 203,409 $ 206,722 $ 210,085 $ 213,498 $ 188,988 $ - $ 4,378,740 LOCAL BROWNFIELD REVOLVING FUND LBRF Deposits * State Tax Capture $ 59,750 $ 59,750 Local Tax Capture $ 27,975 $ 220,479 $ 224,048 $ 472,502 Total LBRF Capture $ 87,725 $ 220,479 $ 224,048 $ 532,252 * Up to five years of capture for LBRF Deposits after eligible activities are reimbursed. May be taken from EGLE & Local TIR only. Z:\2021\210653\WORK\Rept\Brownfield Plan Amendment\Trilogy\Senior Housing TIF Table\TB 1 TBL02 and TBL03_TIF_ harbor 31 Senior housing- Smart Zone.xlsx Attachment A Resolutions Approving the Brownfield Plan Amendment Attachment B Conceptual Renderings Attachment C Environmental Data Tables and Map Attachment D Reimbursement Agreement DEVELOPMENT AND REIMBURSEMENT AGREEMENT This DEVELOPMENT AND REIMBURSEMENT AGREEMENT (the “Agreement”) is made on _________, ______, by and among the CITY OF MUSKEGON BROWNFIELD REDEVELOPMENT AUTHORITY, a Michigan public body corporate whose address is 933 Terrace Street, Muskegon, Michigan 49443 (the “Authority”), the CITY OF MUSKEGON, a public body corporate whose address is 933 Terrace Street, Muskegon, Michigan 49443 (the “City”), and Ryerson Creek Land Co., LLC, a Michigan limited liability company whose address is 2325 Belmont Center Drive NE, Belmont, Michigan 49306 (the “Developer”). RECITALS A. Pursuant to P.A. 381 of 1996, as amended (“Act 381”), the Authority approved and recommended a Brownfield Plan which was duly approved by the City (the “Plan”). The Plan was amended on _________ (the “Amendment,” and, together with the Plan, the “Brownfield Plan” – See Exhibit A) to identify a new senior housing redevelopment project proposed by the Developer. B. The Brownfield Plan includes specific eligible activities associated with the Developer’s plan to develop approximately 5 acres of land located at 60 Viridian Drive in Muskegon, Michigan (collectively, the “Developer Property”). C. The Developer owns the Developer Property, which is included in the Brownfield Plan as an “eligible property” because it was determined to be a “facility”, as defined by Part 201 of the Natural Resources and Environmental Protection Act (“Part 201”), or adjacent and contiguous to an “eligible property.” D. The Developer intends to conduct eligible activities on the Developer Property including the construction of an approximately 63,000 square foot multi-story senior housing building with surrounding asphalt parking areas, concrete walkways and landscaping (the “Project”), including department specific environmental activities, demolition, site preparation and infrastructure improvement activities, a 15% contingency and brownfield plan/work plan preparation and development, as described in the Brownfield Plan, with an estimated cost of $4,378,740 (the “Developer Eligible Activities”). All of the Developer Eligible Activities are eligible for reimbursement under Act 381. The total cost of the Eligible Activities, including contingencies and interest, are $4,392,244 (the “Total Eligible Brownfield TIF Costs”). E. Act 381 permits the Authority to capture and use local and certain school property tax revenues generated from the incremental increase in property value of a redeveloped brownfield site constituting an “eligible property” under Act 381 (the “Brownfield TIF Revenue”) to pay or to reimburse the payment of Eligible Activities conducted on the “eligible property.” The Brownfield TIF Revenue will be used to reimburse the Developer for the Developer Eligible Activities incurred and approved for the Project. F. In accordance with Act 381, the parties desire to establish the procedure for using the available Brownfield TIF Revenue generated from the Property to reimburse the Developer for completion of Eligible Activities on the Property in an amount not to exceed the Total Eligible Brownfield TIF Costs. NOW, THERFORE, the parties agree as follows: 1. Reimbursement Source. (a) During the Term (as defined below) of this Agreement, and except as set forth in paragraph 2 below, the Authority shall reimburse the Developer for the costs of their Eligible Activities conducted on the Developer Property from the Brownfield TIF Revenue collected from the real and taxable personal property taxes on the Developer Property. The amount reimbursed to the Developer for their Eligible Activities shall not exceed the Total Eligible Brownfield TIF Costs, and reimbursements shall be made on approved costs submitted and approved in connection with the Developer Eligible Activities, as follows: (i) the Authority shall pay 100% of available Brownfield TIF Revenue to Developer to reimburse the cost of the Developer Eligible Activities submitted and approved for reimbursement by the Authority until Developer is fully reimbursed; and (b) The Authority shall capture Brownfield TIF Revenue from the Property and reimburse the Developer for their Eligible Activities until the earlier of the Developer being fully reimbursed or December 31, 2051. Unless otherwise prepaid by the Authority, payments to the Developer shall be made on a semi-annual basis as incremental local taxes are captured and available. 2. Developer Reimbursement Process. (a) The Developer shall submit to the Authority, not more frequently than on a quarterly basis, a “Request for Cost Reimbursement” for Developer Eligible Activities paid for by the Developer during the prior period. All costs for the Developer Eligible Activities must be consistent with the approved Brownfield Plan. The Developer must include documentation sufficient for the Authority to determine whether the costs incurred were for Developer Eligible Activities, including detailed invoices and proof of payment. Copies of all invoices for Developer Eligible Activities must note what Developer Eligible Activities they support. (b) Unless the Authority disputes whether such costs are for Developer Eligible Activities within thirty (30) days after receiving a Request for Cost Reimbursement from the Developer, the Authority shall pay the Developer the amounts for which submissions have been made pursuant to paragraph 2(a) of this Agreement in accordance with the priority set forth in paragraph 1, from which the submission may be wholly or partially paid from available Brownfield TIF Revenue from the Developer Property. 2 (i) The Developer shall cooperate with the Authority’s review of its Request for Cost Reimbursement by providing supplemental information and documentation which may be reasonably requested by the Authority. (ii) If the Authority determines that requested costs are ineligible for reimbursement, the Authority shall notify the Developer in writing of its reasons for such ineligibility within the Authority’s thirty (30) day period of review. The Developer shall then have thirty (30) days to provide supplemental information or documents to the Authority demonstrating that the costs are for Developer Eligible Activities and are eligible for reimbursement. (c) If a partial payment is made to the Developer by the Authority because of insufficient Brownfield TIF Revenue captured in the semi-annual period for which reimbursement is sought, the Authority shall make additional payments toward the remaining amount within thirty (30) days of its receipt of additional Brownfield TIF Revenue from the Developer Property until all of the amounts for which submissions have been made have been fully paid to the Developer, or by the end of the Term (as defined below), whichever occurs first. The Authority is not required to reimburse the Developer from any source other than Brownfield TIF Revenue. (d) The Authority shall send all payments to the Developer by registered or certified mail, addressed to the Developer at the address shown above, or by electronic funds transfer directly to the Developer’s bank account. The Developer may change its address by providing written notice sent by registered or certified mail to the Authority. 4. Term of Agreement. The Authority’s obligation to reimburse the Developer for the Total Eligible Brownfield TIF Costs incurred by each party under this Agreement shall terminate the earlier of the date when all reimbursements to the Developer required under this Agreement have been made or December 31, 2051 (the “Term”). If the Brownfield TIF Revenue ends before all of the Total Eligible Brownfield TIF Costs have been fully reimbursed to the Developer, the last reimbursement payment by the Authority shall be paid from the summer and winter tax increment revenue collected during the final year of this Agreement. 5. Adjustments. If, due to an appeal of any tax assessment or reassessment of any portion of the Developer Property, or for any other reason, the Authority is required to reimburse any Brownfield TIF Revenue to any tax levying unit of government, the Authority may deduct the amount of any such reimbursement, including interest and penalties, from any amounts due and owing to the Developer. If all amounts due to the Developer under this Agreement have been fully paid or the Authority is no longer obligated to make any further 3 payments to the Developer, the Authority shall invoice the Developer for the amount of such reimbursement and the Developer shall pay the Authority such invoiced amount within thirty (30) days of the receipt of the invoice. Amounts withheld by or invoiced and paid to the Authority by the Developer pursuant to this paragraph shall be reinstated as Developer Eligible Activities, respectively, for which the Developer shall have the opportunity to be reimbursed in accordance with the terms, conditions, and limitations of this Agreement. Nothing in this Agreement shall limit the right of the Developer to appeal any tax assessment. 6. Legislative Authorization. This Agreement is governed by and subject to the restrictions set forth in Act 381. If there is legislation enacted in the future that alters or affects the amount of Brownfield TIF Revenue subject to capture, eligible property, or Eligible Activities, then the Developer’s rights and the Authority’s obligations under this Agreement shall be modified accordingly as required by law, or by agreement of the parties. 7. Notices. All notices shall be given by registered or certified mail addressed to the parties at their respective addresses as shown above. Any party may change the address by written notice sent by registered or certified mail to the other party. 8. Assignment. This Agreement and the rights and obligations under this Agreement shall not be assigned or otherwise transferred by any party without the consent of the other party, which shall not be unreasonably withheld, provided, however, the Developer may assign their interest in this Agreement to an affiliate without the prior written consent of the Authority if such affiliate acknowledges its obligations to the Authority under this Agreement upon assignment in writing on or prior to the effective date of such assignment, provided, further, that the Developer may each make a collateral assignment of their share of the Brownfield TIF Revenue for project financing purposes. As used in this paragraph, “affiliate” means any corporation, company, partnership, limited liability company, trust, sole proprietorship or other entity or individual which (a) is owned or controlled by the Developer, (b) owns or controls the Developer or (c) is under common ownership or control with the Developer. This Agreement shall be binding upon and inure to the benefit of any successors or permitted assigns of the parties. 9. Entire Agreement. This Agreement supersedes all agreements previously made between the parties relating to the subject matter. There are no other understandings or agreements between the parties. 4 10. Non-Waiver. No delay or failure by either party to exercise any right under this Agreement, and no partial or single exercise of that right, constitutes a waiver of that or any other right, unless otherwise expressly provided herein. 11. Governing Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Michigan. 12. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. [Signature page follows] 5 The parties have executed this Agreement on the date set forth above. CITY OF MUSKEGON BROWNFIELD REDEVELOPMENT AUTHORITY _______________________________ By: Its: Ryerson Creek Land Co., LLC _______________________________ By: Its: 19886336-2 Signature Page to Development and Reimbursement Agreement EXHIBIT A Copy of Brownfield Plan 7 Agenda Item C - BRA Muskegon Brownfield Redevelopment Authority Agenda Item for 11-9-21 Adelaide Pointe QOZB, LLC, 1148 and 1204 West Western Ave. Adelaide Pointe Project Development and Reimbursement Agreement Requesting party: Adelaide Pointe QOZB, LLC Outline of the request: Adelaide Pointe QOZB, LLC has submitted a Development and Reimbursement Agreement for the approved Brownfield Plan for the Adelaide Pointe Project - a 35-acre mixed use waterfront development project located at 1148 and 1204 West Western Ave. Background: The project seeks to transform the 35-acre site into a development that will expand public access to waterfront activities through the creation of a 280 slip marina, up to 400 new residential condominium units, dry stack marina and boat storage, and commercial/retail space. Plans for the site have begun and will continue through Fall 2030. Total private investment, not including property acquisition, is approximately $250 million. Staff comments: 1. The Brownfield Plan Amendment was approved by the Authority on October 12, 2021 and the City Commission on October 26, 2021. 2. The Brownfield Plan is for a period of 30 years and includes total Brownfield Eligible Activity costs estimated at $66,775,378; which includes $54,166,757 of Developer Eligible Activities and $12,608,621 of City Eligible Activities. 3. The property is within the DDA and it is anticipated that all taxes captured will go towards the Brownfield TIF during the life of the Plan. 4. Developer Eligible Activity expenses include - due care, environmental response activities, asbestos, demolition, site preparation, infrastructure improvements, Brownfield Plan preparation, administration costs, and interest expenses (5%). 5. City Eligible Activity expenses include – roadways, water and sewer infrastructure, boat ramp/lift well and site preparation. 6. The Development & Reimbursement Agreement outlines the procedures for the Authority to reimburse the City and Developer for eligible expenses within the Brownfield Plan. 7. The Authority shall first pay 100% of the available Brownfield TIF Revenue to the City to reimburse the costs of City Eligible Activities. 8. The Authority, following reimbursement to the City, shall pay 100% of the available Brownfield TIF Revenue to the Developer to reimburse the cost of Developer Eligible Activities. 9. The Developer and City will provide the BRA a request for payment of eligible expenses. The BRA has 30 days to approve the request. Payments are made on a semi-annual basis when incremental local taxes are captured and available. Staff recommendation: Staff has reviewed the Development and Reimbursement Agreement, along with the city attorney, and recommends approval. Suggested motion: I move to approve/disapprove the Development and Reimbursement Agreement for the approved Brownfield Plan for Adelaide Pointe QOZB, LLC (Adelaide Pointe Project). City of Muskegon Brownfield Redevelopment Authority County of Muskegon, State of Michigan RESOLUTION APPROVING BROWNFIELD DEVELOPMENT AND REIMBURSEMENT AGREEMENT Adelaide Pointe QOZB, LLC Adelaide Pointe Project Minutes of a meeting of the Board of the City of Muskegon Brownfield Redevelopment Authority (“Authority”), County of Muskegon, State of Michigan, held in the City Hall on the 9 th of November, 2021 at 10:30 a.m., prevailing Eastern Time. PRESENT: Members _________________________________________________________ _________________________________________________________________ _________________________________________________________________ ABSENT: Members ________________________________________________________ _________________________________________________________________ The following preamble and resolution were offered by Member ________________ and supported by Member ________________: WHEREAS, the Authority approved a Brownfield Plan Amendment to include the Adelaide Pointe Project (“Project”) during its meeting on October 12, 2021; WHEREAS, the Adelaide Pointe Project Brownfield Plan Amendment includes tax increment financing to pay for certain eligible activities related to the Project; WHEREAS, a Development and Reimbursement Agreement between the City and Adelaide Pointe QOZB, LLC has been negotiated to provide for reimbursement of the costs of eligible activities identified in the Brownfield Plan Amendment. NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: 1. The Development and Reimbursement Agreement between the City and Adelaide Pointe QOZB, LLC for the Adelaide Pointe Project Brownfield Plan Amendment is necessary to facilitate the implementation of the Brownfield Plan. 2. The Authority hereby approves the Development and Reimbursement Agreement for the Adelaide Pointe Project Brownfield Plan, and recommends the approval of the Agreement by the Muskegon City Commission. 3. Repealer. All resolutions and parts of resolution in conflict with the provisions of this resolution are hereby repealed or amended to the extent of such conflict. AYES: _______________________________________________________________ _______________________________________________________________ _______________________________________________________________ NAYS: _______________________________________________________________ _______________________________________________________________ RESOLUTION DECLARED ADOPTED. _____________________________ Secretary -2- I hereby certify that the foregoing is a true and complete copy of a resolution adopted by the Board of the City of Muskegon Brownfield Redevelopment Authority, County of Muskegon, State of Michigan, at a meeting held on November 9th, 2021, and that said meeting was conducted and public notice of said meeting was given pursuant to and in full compliance with the Open Meetings Act, being Act 267, Public Acts of Michigan, 1976, and that the minutes of said meeting were kept and will be or have been made available as required by said Act. _____________________________ Secretary -3- DEVELOPMENT AND REIMBURSEMENT AGREEMENT This DEVELOPMENT AND REIMBURSEMENT AGREEMENT (the “Agreement”) is made on , , by and among the CITY OF MUSKEGON BROWNFIELD REDEVELOPMENT AUTHORITY, a Michigan public body corporate whose address is 933 Terrace Street, Muskegon, Michigan 49443 (the “Authority”), the CITY OF MUSKEGON, a public body corporate whose address is 933 Terrace Street, Muskegon, Michigan 49443 (the “City”), and Adelaide Pointe QOZB, LLC, a Michigan limited liability company whose address is 1204 West Western Avenue, Muskegon, Michigan 49441 (the “Developer”). RECITALS A. Pursuant to P.A. 381 of 1996, as amended (“Act 381”), the Authority approved and recommended a Brownfield Plan which was duly approved by the City (the “Plan”). The Plan was amended on (the “Amendment,” and, together with the Plan, the “Brownfield Plan” – See Exhibit A) to identify a new marina, boat storage, commercial/residential redevelopment project proposed by Developer and the City. B. The Brownfield Plan includes specific eligible activities associated with the Developer’s plan to develop approximately 35 acres of land located at 1148 & 1204 West Western Avenue in Muskegon, Michigan (collectively, the “Developer Property”). C. The Brownfield Plan also includes specific eligible activities associated with the City’s plan to make improvements to the public infrastructure associated with the development. D. The Developer owns the Developer Property, which is included in the Brownfield Plan as an “eligible property” because it was determined to be a “facility”, as defined by Part 201 of the Natural Resources and Environmental Protection Act (“Part 201”), or adjacent and contiguous to an “eligible property.” E. The Developer intends to conduct eligible activities on the Developer Property including revitalizing existing site structures for boat storage, busines offices, and lease space (approx. 218,000 sf); creation of a new 280 slip marina and construction of a three-story, mixed-use building with ground level retail and office space, a second- floor restaurant, and third floor deck area (approx. 7,500 sf); 50 boat condos (totaling approx. 250,000 gross sf); and 250 - 300 residential condo units (averaging approx. 1,500 sf each) within a six building footprint (the “Project”), including department specific activities, demolition, site preparation and infrastructure improvement activities, a 15% contingency and brownfield plan/work plan preparation and development, as described in the Brownfield Plan, with an estimated cost of $54,166,757 (the “Developer Eligible Activities”). As part of the Project, the City also intends to conduct certain eligible public infrastructure improvement activities, as described in the Brownfield Plan, with an estimated cost of $12,608,621 (the “City Eligible Activities”). All of the Developer Eligible Activities and the City Eligible Activities (together, the “Eligible Activities”) are eligible for reimbursement under Act 381. The total cost of the Eligible Activities, including contingencies, are $66,775,378 (the “Total Eligible Brownfield TIF Costs”). F. Act 381 permits the Authority to capture and use local and certain school property tax revenues generated from the incremental increase in property value of a redeveloped brownfield site constituting an “eligible property” under Act 381 (the “Brownfield TIF Revenue”) to pay or to reimburse the payment of Eligible Activities conducted on the “eligible property.” The Brownfield TIF Revenue will be used to reimburse the Developer for the Developer Eligible Activities and the City for the City Eligible Activities incurred and approved for the Project. G. In accordance with Act 381, the parties desire to establish the procedure for using the available Brownfield TIF Revenue generated from the Property to reimburse the Developer and the City for completion of Eligible Activities on the Property in an amount not to exceed the Total Eligible Brownfield TIF Costs. NOW, THERFORE, the parties agree as follows: 1. Reimbursement Source. (a) During the Term (as defined below) of this Agreement, and except as set forth in paragraph 2 below, the Authority shall reimburse the Developer and City for the costs of their Eligible Activities conducted on the Developer Property from the Brownfield TIF Revenue collected from the real and taxable personal property taxes on the Developer Property. The amount reimbursed to the Developer and City, respectively, for their Eligible Activities shall not exceed the Total Eligible Brownfield TIF Costs, and reimbursements shall be made on approved costs submitted and approved in connection with the Developer Eligible Activities and the City Eligible Activities, as follows: (i) the Authority shall first pay 100% of available Brownfield TIF Revenue to the City to reimburse the cost of City Eligible Activities up to $12,608,621 for costs; and (ii) the Authority shall, following reimbursement to the City of the first $12,608,621 described in 1(a)(i) above, pay 100% of available Brownfield TIF Revenue to Developer to reimburse the cost of the remaining Developer Eligible Activities submitted and approved for reimbursement by the Authority until Developer is fully reimbursed; and (b) The Authority shall capture Brownfield TIF Revenue from the Property and reimburse the Developer and City for their Eligible Activities until the earlier of the City and Developer each being fully reimbursed or December 31, 2051. Unless otherwise prepaid by the Authority, payments to the City and Developer shall be made on a semi- annual basis as incremental local taxes are captured and available. 2 2. Developer Reimbursement Process. (a) The Developer shall submit to the Authority, not more frequently than on a quarterly basis, a “Request for Cost Reimbursement” for Developer Eligible Activities paid for by the Developer during the prior period. All costs for the Developer Eligible Activities must be consistent with the approved Brownfield Plan. The Developer must include documentation sufficient for the Authority to determine whether the costs incurred were for Developer Eligible Activities, including detailed invoices and proof of payment. Copies of all invoices for Developer Eligible Activities must note what Developer Eligible Activities they support. (b) Unless the Authority disputes whether such costs are for Developer Eligible Activities within thirty (30) days after receiving a Request for Cost Reimbursement from the Developer, the Authority shall pay the Developer the amounts for which submissions have been made pursuant to paragraph 2(a) of this Agreement in accordance with the priority set forth in paragraph 1, from which the submission may be wholly or partially paid from available Brownfield TIF Revenue from the Developer Property. (i) The Developer shall cooperate with the Authority’s review of its Request for Cost Reimbursement by providing supplemental information and documentation which may be reasonably requested by the Authority. (ii) If the Authority determines that requested costs are ineligible for reimbursement, the Authority shall notify the Developer in writing of its reasons for such ineligibility within the Authority’s thirty (30) day period of review. The Developer shall then have thirty (30) days to provide supplemental information or documents to the Authority demonstrating that the costs are for Developer Eligible Activities and are eligible for reimbursement. (c) If a partial payment is made to the Developer by the Authority because of insufficient Brownfield TIF Revenue captured in the semi-annual period for which reimbursement is sought, the Authority shall make additional payments toward the remaining amount within thirty (30) days of its receipt of additional Brownfield TIF Revenue from the Developer Property until all of the amounts for which submissions have been made have been fully paid to the Developer, or by the end of the Term (as defined below), whichever occurs first. The Authority is not required to reimburse the Developer from any source other than Brownfield TIF Revenue. (d) The Authority shall send all payments to the Developer by registered or certified mail, addressed to the Developer at the address shown above, or by electronic funds transfer directly to the Developer’s bank account. The Developer may change its address by providing written notice sent by registered or certified mail to the Authority. 3. City Reimbursement Process. (a) The City shall submit to the Authority, not more frequently than on a quarterly basis, a “Request for Cost Reimbursement” for City Eligible Activities paid for by the City during the prior period. All costs for the City Eligible Activities must be 3 consistent with the approved Brownfield Plan. The City must include documentation sufficient for the Authority to determine whether the costs incurred were for City Eligible Activities, including detailed invoices and proof of payment. Copies of all invoices for City Eligible Activities must note what City Eligible Activities they support. (b) Unless the Authority disputes whether such costs are for City Eligible Activities within thirty (30) days after receiving a Request for Cost Reimbursement from the City, the Authority shall pay the City the amounts for which submissions have been made pursuant to paragraph 3(a) of this Agreement in accordance with the priority set forth in paragraph 1, from which the submission may be wholly or partially paid from available Brownfield TIF Revenue from the Developer Property. (i) The City shall cooperate with the Authority’s review of its Request for Cost Reimbursement by providing supplemental information and documentation which may be reasonably requested by the Authority. (ii) If the Authority determines that requested costs are ineligible for reimbursement, the Authority shall notify the City in writing of its reasons for such ineligibility within the Authority’s thirty (30) day period of review. The City shall then have thirty (30) days to provide supplemental information or documents to the Authority demonstrating that the costs are for City Eligible Activities and are eligible for reimbursement. (c) If a partial payment is made to the City by the Authority because of insufficient Brownfield TIF Revenue captured in the semi-annual period for which reimbursement is sought, the Authority shall make additional payments toward the remaining amount within thirty (30) days of its receipt of additional Brownfield TIF Revenue from the Developer Property until all of the amounts for which submissions have been made have been fully paid to the City, or by the end of the Term (as defined below), whichever occurs first. The Authority is not required to reimburse the City from any source other than Brownfield TIF Revenue. (d) The Authority shall send all payments to the City by registered or certified mail, addressed to the City at the address shown above, or by electronic funds transfer directly to the City’s bank account. The City may change its address by providing written notice sent by registered or certified mail to the Authority. 4. Term of Agreement. The Authority’s obligation to reimburse the City and Developer for the Total Eligible Brownfield TIF Costs incurred by each party under this Agreement shall terminate the earlier of the date when all reimbursements to the City and Developer required under this Agreement have been made or December 31, 2051 (the “Term”). If the Brownfield TIF Revenue ends before all of the Total Eligible Brownfield TIF Costs have been fully reimbursed to the City and Developer, the last reimbursement payment by the Authority shall be paid from the summer and winter tax increment revenue collected during the final year of this Agreement. 4 5. Adjustments. If, due to an appeal of any tax assessment or reassessment of any portion of the Developer Property, or for any other reason, the Authority is required to reimburse any Brownfield TIF Revenue to any tax levying unit of government, the Authority may deduct the amount of any such reimbursement, including interest and penalties, from any amounts due and owing to the Developer and City. If all amounts due to the City and Developer under this Agreement have been fully paid or the Authority is no longer obligated to make any further payments to the City or Developer, the Authority shall invoice the Developer and City for the amount of such reimbursement and the Developer and City shall pay the Authority such invoiced amount within thirty (30) days of the receipt of the invoice. Amounts withheld by or invoiced and paid to the Authority by the Developer and City pursuant to this paragraph shall be reinstated as Developer Eligible Activities and City Eligible Activities, respectively, for which the Developer and City shall have the opportunity to be reimbursed in accordance with the terms, conditions, and limitations of this Agreement. Nothing in this Agreement shall limit the right of the Developer to appeal any tax assessment. 6. Legislative Authorization. This Agreement is governed by and subject to the restrictions set forth in Act 381. If there is legislation enacted in the future that alters or affects the amount of Brownfield TIF Revenue subject to capture, eligible property, or Eligible Activities, then the Developer’s and City’s rights and the Authority’s obligations under this Agreement shall be modified accordingly as required by law, or by agreement of the parties. 7. Notices. All notices shall be given by registered or certified mail addressed to the parties at their respective addresses as shown above. Any party may change the address by written notice sent by registered or certified mail to the other party. 8. Assignment. This Agreement and the rights and obligations under this Agreement shall not be assigned or otherwise transferred by any party without the consent of the other party, which shall not be unreasonably withheld, provided, however, the Developer and City may assign their interest in this Agreement to an affiliate without the prior written consent of the Authority if such affiliate acknowledges its obligations to the Authority under this Agreement upon assignment in writing on or prior to the effective date of such assignment, provided, further, that the Developer and City may each make a collateral assignment of their share of the Brownfield TIF Revenue for project financing purposes. As used in this paragraph, “affiliate” means any corporation, company, partnership, limited liability company, trust, sole proprietorship or other entity or individual which (a) is owned or controlled by the Developer or City, (b) owns or controls the Developer or City or (c) is under common ownership or control with the Developer or City. This Agreement 5 shall be binding upon and inure to the benefit of any successors or permitted assigns of the parties. 9. Entire Agreement. This Agreement supersedes all agreements previously made between the parties relating to the subject matter. There are no other understandings or agreements between the parties. 10. Non-Waiver. No delay or failure by either party to exercise any right under this Agreement, and no partial or single exercise of that right, constitutes a waiver of that or any other right, unless otherwise expressly provided herein. 11. Governing Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Michigan. 12. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. [Signature page follows] 6 The parties have executed this Agreement on the date set forth above. CITY OF MUSKEGON BROWNFIELD REDEVELOPMENT AUTHORITY By: Its: CITY OF MUSKEGON By: Its: ADELAIDE POINTE QOZB, LLC By: Its: 19886336-2 Signature Page to Development and Reimbursement Agreement City of Muskegon Brownfield Redevelopment Authority Brownfield Plan Amendment for the Adelaide Pointe Project at 1148 & 1204 West Western Avenue Muskegon, Michigan Approved by the City of Muskegon Brownfield Redevelopment Authority Approved by the City of Muskegon Board of Commissioners Prepared with the assistance of: Fishbeck 1515 Arboretum Drive SE Grand Rapids, Michigan 49546 616-464-3876 Table of Contents Fishbeck | Page i 1.0 Introduction ...................................................................................................................................................1 1.1 Proposed Redevelopment and Future Use for the Eligible Property ................................................1 1.2 Eligible Property Information ............................................................................................................1 2.0 Information Required by Section 13(2) of the Statute ...................................................................................2 2.1 Description of Costs to Be Paid for With Tax Increment Revenues ..................................................2 2.2 Summary of Eligible Activities ...........................................................................................................4 2.3 Estimate of Captured Taxable Value and Tax Increment Revenues ..................................................5 2.4 Maximum Amount of Note or Bonded Indebtedness .......................................................................5 2.5 Duration of Brownfield Plan..............................................................................................................5 2.6 Estimated Impact of Tax Increment Financing on Revenues of Taxing Jurisdiction ..........................5 2.7 Legal Description, Property Map, Statement of Qualifying Characteristics and Personal Property..5 2.8 Estimates of Residents and Displacement of Individuals/Families....................................................5 2.9 Plan for Relocation of Displaced Persons..........................................................................................6 2.10 Provisions for Relocation Costs .........................................................................................................6 2.11 Strategy for Compliance with Michigan’s Relocation Assistance Law...............................................6 2.12 Other Material that the Authority or Governing Body Considers Pertinent .....................................6 List of Figures Figure 1 – Location Map Figure 2 – Site Layout Map List of Tables Table 1 – Tax Increment Revenue Capture Table 2 – Tax Increment Revenue Reimbursement Allocation List of Attachments Attachment A Brownfield Plan Resolution(s) Attachment B Conceptual Renderings Attachment C Environmental Data Tables and Map Attachment D Reimbursement Agreement October 4, 2021 Fishbeck | Page 1 1.0 Introduction The City of Muskegon Brownfield Redevelopment Authority (the “Authority” or MBRA) was established by the City of Muskegon pursuant to the Brownfield Redevelopment Financing Act, Michigan Public Act 381 of 1996, as amended (“Act 381”). The primary purpose of Act 381 is to encourage the redevelopment of eligible property by providing economic development incentives through tax increment financing for certain eligible properties. This Brownfield Plan Amendment (“Plan Amendment”) serves as an amendment to the City of Muskegon’s existing Brownfield Plan, allowing inclusion of the eligible property described in Sections 1.1 and 1.2 below. Incorporation of eligible property into the City’s Brownfield Plan permits the use of tax increment financing to reimburse Adelaide Pointe QOZB, LLC (“Developer”) for the cost of eligible activities required to redevelop the eligible property. See Attachment A for copies of Plan Amendment resolutions. 1.1 Proposed Redevelopment and Future Use for the Eligible Property The Developer is proposing to redevelop a former industrial site located at 1148 and 1204 West Western Avenue, Muskegon, Michigan (the “Property”). Proposed redevelopment activities include: revitalizing existing site structures for boat storage, busines offices, and lease space (approx. 218,000 sf); creation of a new 280 slip marina and construction of a three-story, mixed-use building with ground level retail and office space, a second- floor restaurant, and third floor deck area (approx. 7,500 sf); 50 boat condos (totaling approx. 250,000 gross sf); and 250 - 300 residential condo units (averaging approx. 1,500 sf each) within a six building footprint (the “Project”). The Project will create a walkable community that incorporates public access to waterfront activities (e.g., swimming, fishing, boating), inviting greenspace areas, and transient docking. Sustainable development techniques are proposed throughout the Project, including solar boardwalks and roof systems, electric vehicle charging stations, low-impact development stormwater management, and integrated parking. Total private investment, not including property acquisition, is approximately $250,000,000. The mixed-use waterfront development will create approximately 100 new jobs (retail, office, restaurant, marina) and provide contractor work for hundreds of temporary construction workers. Conceptual renderings are provided in Attachment B. The structured five-phase development is summarized in the table below. Development Phase Anticipated Start Date Desired Completion Date Phase I – Revitalize existing buildings for boat storage Spring/Summer 2021 Summer/Fall 2021 Phase II – Creation of forklift in/out service Spring 2022 Spring/Summer 2022 Phase III – Construction of marina, mixed-use building Spring 2022 Fall 2022 Phase IV – Construction of 50 boat storage and Spring 2024 Fall 2027 warehouse Phase V – Construction of residential condos Spring 2025 Fall 2030 1.2 Eligible Property Information The 35-acre Property is located at the west end of West Western Avenue on the south shore of Muskegon Lake. Since the late 1800s, the Property has been utilized for industrial purposes, primarily a lumberyard followed by foundry operations. Based on a recent Phase II Environmental Site Assessment (ESA) completed in December Z:\2020\201515\WORK\REPT\BROWNFIELD PLAN AMENDMENT\ADELAIDE POINTE_FINAL_BROWNFIELD PLAN AMENDMENT_2021_1005.DOCX October 5, 2021 Fishbeck | Page 2 2020, these past industrial uses have resulted in widespread contamination across the Property. Known contaminants in the soil with concentrations exceeding Michigan Department of Environment, Great Lakes, and Energy (EGLE) Part 201 Generic Residential Cleanup Criteria (GRCC) include tetrachloroethylene (PCE), arsenic, cadmium, chromium (total), copper, and selenium. Groundwater contaminants with concentrations identified above Part 201 GRCC consist of benzene, cadmium, chromium (total), copper, lead, mercury, and zinc. The Developer is not a liable party and completed a Baseline Environmental Assessment (BEA) in accordance with Part 201 of the Natural Resources and Environmental Protect Act, 1995 PA 451, as amended (NREPA). Given the known contamination, the Property is a “facility” pursuant to Part 201 of NREPA. As such, it is considered an “eligible property” as defined by the Michigan Redevelopment Financing Act, Act 381 of 1996. Maps depicting the location and layout of the Property are attached as Figures 1 and 2. Environmental data tables and map are provided in Attachment C. 2.0 Information Required by Section 13(2) of the Statute 2.1 Description of Costs to Be Paid for With Tax Increment Revenues Act 381 provides pre-approval for certain activities that have been conducted at the Property. Additional activities require BRA approval for reimbursement from local, school operating, and state education taxes. Tax increment revenues will be used to reimburse the Developer and the City of Muskegon for the following eligible activities. • Pre-approved BEA, documentation of due care, asbestos/lead paint survey, and additional due care assessment • Due care activities • Asbestos, lead paint, and mold abatement • Select building and site demolition • Site preparation • Infrastructure improvements (public)- Developer & City • 15% contingency • Brownfield Plan Amendment • Brownfield Plan Amendment Implementation • Interest The table below provides an eligible activity cost summary for the Project. Z:\2020\201515\WORK\REPT\BROWNFIELD PLAN AMENDMENT\ADELAIDE POINTE_FINAL_BROWNFIELD PLAN AMENDMENT_2021_1005.DOCX October 5, 2021 Fishbeck | Page 3 ELIGIBLE ACTIVITIES COST SUMMARY EGLE Eligible Activities Estimated Cost Department Specific Activities $350,000 1. Pre-Approved Sub-Total $52,000 a. BEA activities $33,000 b. Documentation of due care $20,000 c. Hazardous materials survey (e.g., asbestos, lead paint, etc.) d. Due care assessment $245,000 EGLE Eligible Activities Total Costs $350,000 Interest (5%) $15,354 EGLE Eligible Costs Sub-Total $365,354 Local Only Eligible Activities Estimated Cost Department Specific Activities 2. Due Care Sub-Total $3,250,000 a. Vapor intrusion mitigation $500,000 b. Soil capping $1,500,000 c. Dewatering $250,000 d. Contaminated Soil/Dredge Materials Removal and Disposal $1,000,000 Local Only Department Specific Activities Total Costs $3,250,000 Non-Environmental Activities 3. Asbestos, lead paint, and mold abatement Sub-Total $1,250,000 4. Demolition (select interior and site grounds) Sub-Total $1,500,000 Z:\2020\201515\WORK\REPT\BROWNFIELD PLAN AMENDMENT\ADELAIDE POINTE_FINAL_BROWNFIELD PLAN AMENDMENT_2021_1005.DOCX October 5, 2021 Fishbeck | Page 4 5. Site preparation Sub-Total $5,545,000 a. Clearing and grubbing $300,000 b. Dredging $800,000 c. Compaction and sub-base preparation $350,000 d. Cut and fill $300,000 e. Excavation for unstable material $70,000 f. Fill $850,000 g. Geotechnical engineering $180,000 h. Grading/land balancing $1,250,000 i. Relocation of active utilities $350,000 j. Temporary erosion control $110,000 k. Temporary facility $165,000 l. Temporary site control $195,000 m. Surveying and staking $125,000 n. Architectural/engineering costs related to eligible activities $500,000 6. Infrastructure improvements (Public) $13,000,000 a. Marina basin (breakwater system/gangway/dockage) $10,000,000 b. Parks (Linear Park, East Peninsula Park, Commuter Bike $2,000,000 Path) c. East Basin Launch Well $1,000,000 Local Only Non-Environmental Activities Total Costs $21,295,000 EGLE and Local Only Eligible Costs Sub-Total $24,910,354 Contingency (15%)* $3,681,750 Brownfield Plan Amendment Preparation $10,000 Brownfield Plan Amendment Implementation $10,000 Interest (5%) $25,554,653 Total EGLE and Local Only Eligible Costs $54,166,757 *Not applied to previously completed Department Specific Activities ELIGIBLE ACTIVITIES COST SUMMARY- City of Muskegon Bond Local Only Activities Total Costs 1. Public Infrastructure (sub-total) $10,000,000 a. Roadways (Adelaide Point Ave, East Circle Drive, West $6,840,000 Z:\2020\201515\WORK\REPT\BROWNFIELD PLAN AMENDMENT\ADELAIDE POINTE_FINAL_BROWNFIELD PLAN AMENDMENT_2021_1005.DOCX October 5, 2021 Fishbeck | Page 5 Circle Drive, Adelaide Point Drive, South Circle Drive) b. West Western Reconfiguration $1,035,000 c. East Basin Launch Well $1,615,000 2. Site Preparation (sub-total) a. Mass Grade Site $510,000 Local Only Non-Environmental Activities Total Costs $10,000,000 Interest (5%) $2,608,621 Total City of Muskegon Bond Eligible Costs $12,608,621 2.2 Summary of Eligible Activities Eligible activities as defined by Act 381 and included in this Plan Amendment consist of the following: Pre-Approved Activities: These activities are permitted to occur prior to Plan Amendment approval. Preparation of a Phase I ESA, BEA and Documentation of Due Care Compliance are necessary to protect the new Property owner/Developer from liability for environmental contamination. A Hazardous Materials Investigation was conducted to evaluate potential asbestos, lead paint, and other materials, as required by regulatory agencies prior to select building demolition activities. Due care assessment will be conducted to verify compliance with applicable due care obligations. Pre-approved activities can be reimbursed from state school and local tax increment revenues. Due Care Activities: Due care activities will include implementation of vapor intrusion mitigation systems, as applicable, to prevent unacceptable exposures to potential indoor air inhalation concerns. Soil capping will be completed to protect against direct contact concerns related to known contamination. Contaminated soils/dredge materials which cannot be utilized on the Site will be hauled to an appropriate Type 2 landfill for disposal. During construction activities, dewatering may be necessary. Contaminated groundwater will be properly managed to comply with due care. Due care costs will include environmental oversight and management. Asbestos, Lead Paint, and Mold Abatement: As applicable, and prior to select building demolition activities, asbestos, lead paint, and mold must be abated in accordance with applicable regulatory guidelines. Demolition: Select building and Site demolition will be necessary to facilitate safe redevelopment and reuse of the Property. Site Preparation: Site preparation is expected to include clearing and grubbing, dredging, compaction and sub-base preparation, cut and fill, excavation for unstable material, fill, geotechnical engineering, grading, land balancing, relocation of active utilities, temporary erosion control, temporary facility, temporary site control, surveying, staking and associated professional fees. Public Infrastructure Improvements: Infrastructure improvements will include marina launch and basin enhancements, sidewalks, bike paths, boardwalks, fishing docks, roadways, curb and gutter, lighting, landscaping, irrigation, low-impact design stormwater management, utilities, and other streetscape improvements. Costs will include oversight, management, and associated professional fees. Plan Amendment Preparation: This Plan Amendment was required for authorization of reimbursement to the Developer from tax increment revenues under Public Act 381 of 1996, as amended. Plan Amendment Implementation: Tracking, submittal, review of invoices for reimbursement, plan compliance, and data reporting will be conducted. Z:\2020\201515\WORK\REPT\BROWNFIELD PLAN AMENDMENT\ADELAIDE POINTE_FINAL_BROWNFIELD PLAN AMENDMENT_2021_1005.DOCX October 5, 2021 Fishbeck | Page 6 Contingency: A 15% contingency is included for those activities not already completed. 2.3 Estimate of Captured Taxable Value and Tax Increment Revenues For the purposes of this Plan Amendment, the taxable value base year is 2021. The 2021 taxable value of the eligible property is $903,810. After completion of the development, the taxable value is estimated at $87,500,000. This Plan Amendment assumes a 1.0% annual increase in the taxable value of the eligible property. Initial capture is anticipated to begin in 2022. The estimated captured taxable value for the redevelopment by year and in aggregate for each taxing jurisdiction is depicted in tabular form (Table 1: Tax Increment Revenue Capture). Actual taxable values and tax increment revenues may vary year to year based on economic and market conditions, tax incentives, building additions, and property improvements, among other factors. A summary of the estimated reimbursement schedule by year and in aggregate is presented as Table 2: Tax Increment Revenue Reimbursement Allocation. Method of Financing and Description of Advances Made by the Municipality The cost of the eligible activities included in this Plan Amendment will be paid for by the Developer and the City of Muskegon. The Developer and City of Muskegon will seek reimbursement for eligible activity costs through capture of available local and state (as applicable) tax increment revenues as permitted by Act 381. Additionally, as necessary personal property taxes may be utilized as well for reimbursement. Refer to Attachment D for a copy of the Reimbursement Agreement. 2.4 Maximum Amount of Note or Bonded Indebtedness The City of Muskegon plans to utilize bond proceeds to pay for certain eligible site preparation and public infrastructure costs incurred by the City, which will be repaid via tax increment revenues generated by redevelopment of the Site, and subject to the Reimbursement/Development Agreement. Refer to the table in Section 2.1 for additional information relative to the costs and breakdown of costs associated with the bond. Refer to Table 2 for the reimbursement schedule. 2.5 Duration of Brownfield Plan Capture of tax increment revenues for City reimbursement is anticipated to commence in 2023 and end in 2029. Developer reimbursement will follow with an estimated start date of 2029. The anticipated end date for Developer reimbursement is 2048. It is projected that the Plan Amendment will extend 30 years, which assumes four years of additional capture of tax increment revenues for deposit into a Local Brownfield Revolving Fund, if available. 2.6 Estimated Impact of Tax Increment Financing on Revenues of Taxing Jurisdiction The estimated amount of tax increment revenues to be captured for this redevelopment from each taxing jurisdiction by year and in aggregate is presented in Tables 1 and 2. Z:\2020\201515\WORK\REPT\BROWNFIELD PLAN AMENDMENT\ADELAIDE POINTE_FINAL_BROWNFIELD PLAN AMENDMENT_2021_1005.DOCX October 5, 2021 Fishbeck | Page 7 2.7 Legal Description, Property Map, Statement of Qualifying Characteristics and Personal Property • The legal description is as follows: 1148 W. Western Avenue COM AT SE COR LOT 4 BLK 577 FOR POB TH N 1 DEG 41 MIN W 158.40 FT TH N 76 DEG 43 MIN W 103.55 FT TH NWLY ON THE ARC OF A 492.47 FT RAD CURVE TO THE RT 110.31 FT (LONG CORD BEARS N 70D 18M W 110.07 FT CENTRAL ANGLE IS 12D 50M 00S) TH N 63 DEG 53 MIN W 67 FT TH N 2 DEG 4 MIN W 33.8 FT TO RR R/W TH CON'T N 2 DEG 4 MIN W 367.7 FT TH N 37 DEG W 730 FT 1204 W. Western Avenue PART OF SECTION 25 T10N R17W PRT OF BLKS 578-580DESC AS FOLS COM AT SE COR LOT 4 BLK 577 TH S 88D 15M W ALG SLY LN SD BLK 577 EXTND (ALSO BEING NLY LN WESTERN AVE) 847.15 FT FOR POB TH N 01D 56M 50S W 256.10 FT TH N 31D 37M 35S E 47 FT TH N 55D 15M 15S E 89.20 FT TH N 35D 54M 50S W 127.65 FT TH N 02D 52M 10S W 553 FT TH S 55D 13 M W 243 FTCOM 375 FT N OF SW COR OF SW ¼ OF NW ¼, TH N TO A POINT745 FT S OF NW COR, TH E 225 FT, TH S TO A POINT DUE E OF POB; TH W 225 FT TO POB. SEC 16, T10N RSW. 1.03 AC M/L. • The Property layout is depicted on Figure 2. • The Property is considered an “eligible property” as defined by Act 381 because the Property is a facility pursuant to Part 201. Facility verification is included in Attachment C. • New personal property added to the Property is included as part of the Eligible Property to the extent it is taxable. 2.8 Estimates of Residents and Displacement of Individuals/Families No residents or families will be displaced because of the Project. 2.9 Plan for Relocation of Displaced Persons Not applicable. 2.10 Provisions for Relocation Costs Not applicable. 2.11 Strategy for Compliance with Michigan’s Relocation Assistance Law Not applicable. 2.12 Other Material that the Authority or Governing Body Considers Pertinent The Project will significantly improve the Muskegon Lake shoreline through revitalization of Property once used for industrial purposes. Existing structures will be revitalized, and environmental exposure risks mitigated. A new marina with transient boat slips will provide boaters with opportunities to access the vibrant Muskegon downtown and other nearby recreational activities. Construction of new boat storage and residential condominiums will expand Muskegon Lake access and increase long-term tax revenues for the City of Muskegon and the State of Michigan. The Development will also create numerous job opportunities for the community. Z:\2020\201515\WORK\REPT\BROWNFIELD PLAN AMENDMENT\ADELAIDE POINTE_FINAL_BROWNFIELD PLAN AMENDMENT_2021_1005.DOCX Figure 1 Location Map VICINITY MAP MICHIGAN CITY OF MUSKEGON _ ^ MUSKEGON COUNTY Hard copy is intended to be 8.5"x11" when plotted. Scale(s) indicated and graphic quality may not be accurate for any other size. 1148 & 1204 West Western Ave., Muskegon, Muskegon County, Michigan Baseline Environmental Assessment Leestma Management, LLC SITE PLOT INFO: Z:\2020\201515\CAD\GIS\mapdoc\FIG01_LocationMap.mxd Date: 12/11/2020 4:33:47 PM User: bahannah PROJECT NO. 201515 LOCATION MAP FIGURE NO. NORTH 0 1,000 FEET 2,000 © OpenStreetMap (and) contributors, CC-BY-SA 1 ©Copyright 2020 All Rights Reserved Figure 2 Site Layout Map LEGEND Approximate Property Boundary Hard copy is intended to be 8.5"x11" when plotted. Scale(s) indicated and graphic quality may not be accurate for any other size. 1148 & 1204 West Western Ave., Muskegon, Muskegon County, MI Leesta Management, LLC Baseline Environmental Assessment PLOT INFO: Z:\2020\201515\CAD\GIS\mapdoc\FIG03_SiteMap.mxd Date: 12/11/2020 4:43:23 PM User: bahannah PROJECT NO. 201515 SITE MAP Source: Esri, Maxar, GeoEye, Earthstar Geographics, CNES/Airbus DS, USDA, USGS, AeroGRID, IGN, and the GIS User Community, FIGURE NO. 2 Esri, HERE, Garmin, (c) OpenStreetMap contributors, Esri, HERE, FEET Garmin, (c) OpenStreetMapNORTH 0 and the contributors, 150 GIS user300 community ©Copyright 2020 All Rights Reserved Table 1 Tax Increment Revenue Capture Table 1 - Estimate of Total Incremental Taxes Available for Capture 1 of 3 1148 and 1204 West Western Avenue, Muskegon, Muskegon County, Michigan Estimated Taxable Value (TV) Increase Rate: 1% Plan Year 0 1 2 3 4 5 6 7 8 9 10 Calendar Year 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Base Taxable Value $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 Estimated New TV $ - $ 1,750,000 $ 14,875,000 $ 42,875,000 $ 53,375,000 $ 61,250,000 $ 87,500,000 $ 88,375,000 $ 89,258,750 $ 90,151,338 $ 91,052,851 1 Incremental Difference (New TV - Base TV) $ - $ 846,190 $ 13,971,190 $ 41,971,190 $ 52,471,190 $ 60,346,190 $ 86,596,190 $ 87,471,190 $ 88,354,940 $ 89,247,528 $ 90,149,041 School Capture Millage Rate State Education Tax (SET) 6.00000 $ - $ 5,077 $ 83,827 $ 251,827 $ 314,827 $ 362,077 $ 519,577 $ 524,827 $ 530,130 $ 535,485 $ 540,894 School Operating Tax 17.98380 $ - $ 15,218 $ 251,255 $ 754,801 $ 943,631 $ 1,085,254 $ 1,557,329 $ 1,573,064 $ 1,588,958 $ 1,605,010 $ 1,621,222 School Total 23.9838 $ - $ 20,295 $ 335,082 $ 1,006,629 $ 1,258,459 $ 1,447,331 $ 2,076,906 $ 2,097,892 $ 2,119,087 $ 2,140,495 $ 2,162,117 Local Capture Millage Rate County Museum 0.32200 $ - $ 272 $ 4,499 $ 13,515 $ 16,896 $ 19,431 $ 27,884 $ 28,166 $ 28,450 $ 28,738 $ 29,028 County Veterans 0.07150 $ - $ 61 $ 999 $ 3,001 $ 3,752 $ 4,315 $ 6,192 $ 6,254 $ 6,317 $ 6,381 $ 6,446 Senior Citzens Services 0.49990 $ - $ 423 $ 6,984 $ 20,981 $ 26,230 $ 30,167 $ 43,289 $ 43,727 $ 44,169 $ 44,615 $ 45,066 Central Dispatch 0.29999 $ - $ 254 $ 4,191 $ 12,591 $ 15,741 $ 18,103 $ 25,978 $ 26,240 $ 26,506 $ 26,773 $ 27,044 Community College 2.20340 $ - $ 1,864 $ 30,784 $ 92,479 $ 115,615 $ 132,967 $ 190,806 $ 192,734 $ 194,681 $ 196,648 $ 198,634 M.A.I.S.D 4.75410 $ - $ 4,023 $ 66,420 $ 199,535 $ 249,453 $ 286,892 $ 411,687 $ 415,847 $ 420,048 $ 424,292 $ 428,578 City Operating 10.07540 $ - $ 8,526 $ 140,765 $ 422,877 $ 528,668 $ 608,012 $ 872,491 $ 881,307 $ 890,211 $ 899,205 $ 908,288 City Sanitation 2.99790 $ - $ 2,537 $ 41,884 $ 125,825 $ 157,303 $ 180,912 $ 259,607 $ 262,230 $ 264,879 $ 267,555 $ 270,258 Hackley Library 2.39970 $ - $ 2,031 $ 33,527 $ 100,718 $ 125,915 $ 144,813 $ 207,805 $ 209,905 $ 212,025 $ 214,167 $ 216,331 MPS Sinking 0.99810 $ - $ 845 $ 13,945 $ 41,891 $ 52,371 $ 60,232 $ 86,432 $ 87,305 $ 88,187 $ 89,078 $ 89,978 County Operating 5.69780 $ - $ 4,821 $ 79,605 $ 239,143 $ 298,970 $ 343,841 $ 493,408 $ 498,393 $ 503,429 $ 508,515 $ 513,651 Local Total 30.3198 $ - $ 25,656 $ 423,604 $ 1,272,558 $ 1,590,915 $ 1,829,684 $ 2,625,578 $ 2,652,108 $ 2,678,903 $ 2,705,966 $ 2,733,300 Non-Capturable Millages Millage Rate Community College Debt 0.34000 $ - $ 288 $ 4,750 $ 14,270 $ 17,840 $ 20,518 $ 29,443 $ 29,740 $ 30,041 $ 30,344 $ 30,651 Hackley Debt 0.45320 $ - $ 383 $ 6,332 $ 19,021 $ 23,780 $ 27,349 $ 39,245 $ 39,642 $ 40,042 $ 40,447 $ 40,856 MPS Debt - 1995 3.86000 $ - $ 3,266 $ 53,929 $ 162,009 $ 202,539 $ 232,936 $ 334,261 $ 337,639 $ 341,050 $ 344,495 $ 347,975 MPS Debt - 2009 3.50000 $ - $ 2,962 $ 48,899 $ 146,899 $ 183,649 $ 211,212 $ 303,087 $ 306,149 $ 309,242 $ 312,366 $ 315,522 Total Non-Capturable Taxes 8.1532 $ - $ 6,899 $ 113,910 $ 342,200 $ 427,808 $ 492,015 $ 706,036 $ 713,170 $ 720,375 $ 727,653 $ 735,003 1 Assumes 1% annual increase for inflation Total Tax Increment Revenue (TIR) Available for Capture $ - $ 45,951 $ 758,686 $ 2,279,186 $ 2,849,374 $ 3,277,015 $ 4,702,484 $ 4,750,000 $ 4,797,990 $ 4,846,461 $ 4,895,417 Notes- Table 2 assumes incremental annual investment with project completion in 2030. For the purpose of Table 2 the new taxable value is estimated based on 35% of a total overal investment of $250,000,000 Z:\2020\201515\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ Adelaide rev 100421, 10 mil Bond.xlsx Table 1 - Estimate of Total Incremental Taxes Available for Capture 2 of 3 1148 and 1204 West Western Avenue, Muskegon, Muskegon County, Michigan Estimated Taxable Value (TV) Increase Rate: Plan Year 11 12 13 14 15 16 17 18 19 20 21 22 Calendar Year 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 Base Taxable Value $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 Estimated New TV $ 91,963,379 $ 92,883,013 $ 93,811,843 $ 94,749,962 $ 95,697,461 $ 96,654,436 $ 97,620,980 $ 98,597,190 $ 99,583,162 $ 100,578,994 $ 101,584,784 $ 102,600,631 1 Incremental Difference (New TV - Base TV) $ 91,059,569 $ 91,979,203 $ 92,908,033 $ 93,846,152 $ 94,793,651 $ 95,750,626 $ 96,717,170 $ 97,693,380 $ 98,679,352 $ 99,675,184 $ 100,680,974 $ 101,696,821 School Capture Millage Rate State Education Tax (SET) 6.00000 $ 546,357 $ 551,875 $ 557,448 $ 563,077 $ 568,762 $ 574,504 $ 580,303 $ 586,160 $ 592,076 $ 598,051 $ 604,086 $ 610,181 School Operating Tax 17.98380 $ 1,637,597 $ 1,654,136 $ 1,670,839 $ 1,687,710 $ 1,704,750 $ 1,721,960 $ 1,739,342 $ 1,756,898 $ 1,774,630 $ 1,792,539 $ 1,810,626 $ 1,828,895 School Total 23.9838 $ 2,183,955 $ 2,206,011 $ 2,228,288 $ 2,250,787 $ 2,273,512 $ 2,296,464 $ 2,319,645 $ 2,343,058 $ 2,366,706 $ 2,390,590 $ 2,414,712 $ 2,439,076 Local Capture Millage Rate County Museum 0.32200 $ 29,321 $ 29,617 $ 29,916 $ 30,218 $ 30,524 $ 30,832 $ 31,143 $ 31,457 $ 31,775 $ 32,095 $ 32,419 $ 32,746 County Veterans 0.07150 $ 6,511 $ 6,577 $ 6,643 $ 6,710 $ 6,778 $ 6,846 $ 6,915 $ 6,985 $ 7,056 $ 7,127 $ 7,199 $ 7,271 Senior Citzens Services 0.49990 $ 45,521 $ 45,980 $ 46,445 $ 46,914 $ 47,387 $ 47,866 $ 48,349 $ 48,837 $ 49,330 $ 49,828 $ 50,330 $ 50,838 Central Dispatch 0.29999 $ 27,317 $ 27,593 $ 27,871 $ 28,153 $ 28,437 $ 28,724 $ 29,014 $ 29,307 $ 29,603 $ 29,902 $ 30,203 $ 30,508 Community College 2.20340 $ 200,641 $ 202,667 $ 204,714 $ 206,781 $ 208,868 $ 210,977 $ 213,107 $ 215,258 $ 217,430 $ 219,624 $ 221,840 $ 224,079 M.A.I.S.D 4.75410 $ 432,906 $ 437,278 $ 441,694 $ 446,154 $ 450,658 $ 455,208 $ 459,803 $ 464,444 $ 469,132 $ 473,866 $ 478,647 $ 483,477 City Operating 10.07540 $ 917,462 $ 926,727 $ 936,086 $ 945,538 $ 955,084 $ 964,726 $ 974,464 $ 984,300 $ 994,234 $ 1,004,267 $ 1,014,401 $ 1,024,636 City Sanitation 2.99790 $ 272,987 $ 275,744 $ 278,529 $ 281,341 $ 284,182 $ 287,051 $ 289,948 $ 292,875 $ 295,831 $ 298,816 $ 301,831 $ 304,877 Hackley Library 2.39970 $ 218,516 $ 220,722 $ 222,951 $ 225,203 $ 227,476 $ 229,773 $ 232,092 $ 234,435 $ 236,801 $ 239,191 $ 241,604 $ 244,042 MPS Sinking 0.99810 $ 90,887 $ 91,804 $ 92,732 $ 93,668 $ 94,614 $ 95,569 $ 96,533 $ 97,508 $ 98,492 $ 99,486 $ 100,490 $ 101,504 County Operating 5.69780 $ 518,839 $ 524,079 $ 529,371 $ 534,717 $ 540,115 $ 545,568 $ 551,075 $ 556,637 $ 562,255 $ 567,929 $ 573,660 $ 579,448 Local Total 30.3198 $ 2,760,907 $ 2,788,790 $ 2,816,952 $ 2,845,396 $ 2,874,124 $ 2,903,139 $ 2,932,444 $ 2,962,043 $ 2,991,937 $ 3,022,131 $ 3,052,626 $ 3,083,426 Non-Capturable Millages Millage Rate Community College Debt 0.34000 $ 30,960 $ 31,273 $ 31,589 $ 31,908 $ 32,230 $ 32,555 $ 32,884 $ 33,216 $ 33,551 $ 33,890 $ 34,232 $ 34,577 Hackley Debt 0.45320 $ 41,268 $ 41,685 $ 42,106 $ 42,531 $ 42,960 $ 43,394 $ 43,832 $ 44,275 $ 44,721 $ 45,173 $ 45,629 $ 46,089 MPS Debt - 1995 3.86000 $ 351,490 $ 355,040 $ 358,625 $ 362,246 $ 365,903 $ 369,597 $ 373,328 $ 377,096 $ 380,902 $ 384,746 $ 388,629 $ 392,550 MPS Debt - 2009 3.50000 $ 318,708 $ 321,927 $ 325,178 $ 328,462 $ 331,778 $ 335,127 $ 338,510 $ 341,927 $ 345,378 $ 348,863 $ 352,383 $ 355,939 Total Non-Capturable Taxes 8.1532 $ 742,427 $ 749,925 $ 757,498 $ 765,146 $ 772,872 $ 780,674 $ 788,554 $ 796,514 $ 804,552 $ 812,672 $ 820,872 $ 829,155 1 Assumes 1% annual increase for inflation Total Tax Increment Revenue (TIR) Available for Capture $ 4,944,862 $ 4,994,801 $ 5,045,240 $ 5,096,183 $ 5,147,636 $ 5,199,603 $ 5,252,090 $ 5,305,101 $ 5,358,643 $ 5,412,720 $ 5,467,338 $ 5,522,502 Notes- Table 2 assumes incremental annual investment with project completion in 2030. For the purpose of Table 2 the new taxable value is estimated based on 35% of a total overal investment of $250,000,000 Z:\2020\201515\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ Adelaide rev 100421, 10 mil Bond.xlsx Table 1 - Estimate of Total Incremental Taxes Available for Capture 3 of 3 1148 and 1204 West Western Avenue, Muskegon, Muskegon County, Michigan Estimated Taxable Value (TV) Increase Rate: Plan Year 23 24 25 26 27 28 29 30 TOTAL Calendar Year 2044 2045 2046 2047 2048 2049 2050 2051 Base Taxable Value $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ 903,810 $ - Estimated New TV $ 103,626,638 $ 104,662,904 $ 105,709,533 $ 106,766,628 $ 107,834,295 $ 108,912,638 $ 110,001,764 $ 111,101,782 $ - 1 Incremental Difference (New TV - Base TV) $ 102,722,828 $ 103,759,094 $ 104,805,723 $ 105,862,818 $ 106,930,485 $ 108,008,828 $ 109,097,954 $ 110,197,972 $ - School Capture Millage Rate State Education Tax (SET) 6.00000 $ 616,337 $ 622,555 $ 628,834 $ 635,177 $ 641,583 $ 648,053 $ 654,588 $ 661,188 $ 15,709,744 School Operating Tax 17.98380 $ 1,847,347 $ 1,865,983 $ 1,884,805 $ 1,903,816 $ 1,923,016 $ 1,942,409 $ 1,961,996 $ 1,981,778 $ 47,086,816 School Total 23.9838 $ 2,463,684 $ 2,488,537 $ 2,513,640 $ 2,538,993 $ 2,564,599 $ 2,590,462 $ 2,616,584 $ 2,642,966 $ 62,796,559 Local Capture Millage Rate County Museum 0.32200 $ 33,077 $ 33,410 $ 33,747 $ 34,088 $ 34,432 $ 34,779 $ 35,130 $ 35,484 $ 843,090 County Veterans 0.07150 $ 7,345 $ 7,419 $ 7,494 $ 7,569 $ 7,646 $ 7,723 $ 7,801 $ 7,879 $ 187,208 Senior Citzens Services 0.49990 $ 51,351 $ 51,869 $ 52,392 $ 52,921 $ 53,455 $ 53,994 $ 54,538 $ 55,088 $ 1,308,883 Central Dispatch 0.29999 $ 30,816 $ 31,127 $ 31,441 $ 31,758 $ 32,078 $ 32,402 $ 32,728 $ 33,058 $ 785,461 Community College 2.20340 $ 226,339 $ 228,623 $ 230,929 $ 233,258 $ 235,611 $ 237,987 $ 240,386 $ 242,810 $ 5,769,142 M.A.I.S.D 4.75410 $ 488,355 $ 493,281 $ 498,257 $ 503,282 $ 508,358 $ 513,485 $ 518,663 $ 523,892 $ 12,447,616 City Operating 10.07540 $ 1,034,974 $ 1,045,414 $ 1,055,960 $ 1,066,610 $ 1,077,367 $ 1,088,232 $ 1,099,206 $ 1,110,289 $ 26,380,326 City Sanitation 2.99790 $ 307,953 $ 311,059 $ 314,197 $ 317,366 $ 320,567 $ 323,800 $ 327,065 $ 330,362 $ 7,849,374 Hackley Library 2.39970 $ 246,504 $ 248,991 $ 251,502 $ 254,039 $ 256,601 $ 259,189 $ 261,802 $ 264,442 $ 6,283,112 MPS Sinking 0.99810 $ 102,528 $ 103,562 $ 104,607 $ 105,662 $ 106,727 $ 107,804 $ 108,891 $ 109,989 $ 2,613,316 County Operating 5.69780 $ 585,294 $ 591,199 $ 597,162 $ 603,185 $ 609,269 $ 615,413 $ 621,618 $ 627,886 $ 14,918,497 Local Total 30.3198 $ 3,114,535 $ 3,145,954 $ 3,177,688 $ 3,209,738 $ 3,242,110 $ 3,274,805 $ 3,307,827 $ 3,341,179 $ 79,386,023 Non-Capturable Millages Millage Rate Community College Debt 0.34000 $ 34,926 $ 35,278 $ 35,634 $ 35,993 $ 36,356 $ 36,723 $ 37,093 $ 37,467 $ 890,219 Hackley Debt 0.45320 $ 46,554 $ 47,024 $ 47,498 $ 47,977 $ 48,461 $ 48,950 $ 49,443 $ 49,942 $ 1,186,609 MPS Debt - 1995 3.86000 $ 396,510 $ 400,510 $ 404,550 $ 408,630 $ 412,752 $ 416,914 $ 421,118 $ 425,364 $ 10,106,602 MPS Debt - 2009 3.50000 $ 359,530 $ 363,157 $ 366,820 $ 370,520 $ 374,257 $ 378,031 $ 381,843 $ 385,693 $ 9,164,017 Total Non-Capturable Taxes 8.1532 $ 837,520 $ 845,969 $ 854,502 $ 863,121 $ 871,826 $ 880,618 $ 889,497 $ 898,466 $ 21,347,447 1 Assumes 1% annual increase for inflation Total Tax Increment Revenue (TIR) Available for Capture $ 5,578,218 $ 5,634,491 $ 5,691,327 $ 5,748,731 $ 5,806,709 $ 5,865,267 $ 5,924,411 $ 5,984,145 ########## Notes- Table 2 assumes incremental annual investment with project completion in 2030. For the purpose of Table 2 the new taxable value is estimated based on 35% of a total overal investment of $250,000,000 Z:\2020\201515\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ Adelaide rev 100421, 10 mil Bond.xlsx Table 2 Tax Increment Revenue Reimbursement Allocation Table 2 - Estimate of Total Incremental Taxes Available for Reimbursement 1 of 2 1148 1204 West Western Avenue, Muskegon, Muskegon County, Michigan Developer Maximum School & Reimbursement Local Taxes State $ 178,977 Local 66,596,401 Estimated Years of Capture: 30 years (including 5 years for LBF capture) TOTAL $ 66,775,378 EGLE N/A MSF N/A 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 Total State Incremental Revenue $ - $ 20,295 $ 335,082 $ 1,006,629 $ 1,258,459 $ 1,447,331 $ 2,076,906 $ 2,097,892 $ 2,119,087 $ 2,140,495 $ 2,162,117 $ 2,183,955 $ 2,206,011 $ 2,228,288 $ 2,250,787 $ 2,273,512 $ 2,296,464 $ 2,319,645 $ 2,343,058 $ 2,366,706 $ 2,390,590 $ 2,414,712 State Brownfield Redevelopment Fund (50% of SET) $ - $ 2,539 $ 41,914 State TIR Available for Reimbursement $ - $ 17,756 $ 293,169 $ 1,006,629 $ 1,258,459 $ 1,447,331 $ 2,076,906 $ 2,097,892 $ 2,119,087 $ 2,140,495 $ 2,162,117 $ 2,183,955 $ 2,206,011 $ 2,228,288 $ 2,250,787 $ 2,273,512 $ 2,296,464 $ 2,319,645 $ 2,343,058 $ 2,366,706 $ 2,390,590 $ 2,414,712 Total Local Incremental Revenue $ - $ 25,656 $ 423,604 $ 1,272,558 $ 1,590,915 $ 1,829,684 $ 2,625,578 $ 2,652,108 $ 2,678,903 $ 2,705,966 $ 2,733,300 $ 2,760,907 $ 2,788,790 $ 2,816,952 $ 2,845,396 $ 2,874,124 $ 2,903,139 $ 2,932,444 $ 2,962,043 $ 2,991,937 $ 3,022,131 $ 3,052,626 BRA Administrative Fee $ - $ 500 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 Local TIR Available for Reimbursement $ - $ 25,156 $ 413,604 $ 1,262,558 $ 1,580,915 $ 1,819,684 $ 2,615,578 $ 2,642,108 $ 2,668,903 $ 2,695,966 $ 2,723,300 $ 2,750,907 $ 2,778,790 $ 2,806,952 $ 2,835,396 $ 2,864,124 $ 2,893,139 $ 2,922,444 $ 2,952,043 $ 2,981,937 $ 3,012,131 $ 3,042,626 Total State & Local TIR Available $ - $ 42,913 $ 706,772 $ 2,269,186 $ 2,839,374 $ 3,267,015 $ 4,692,484 $ 4,740,000 $ 4,787,990 $ 4,836,461 $ 4,885,417 $ 4,934,862 $ 4,984,801 $ 5,035,240 $ 5,086,183 $ 5,137,636 $ 5,189,603 $ 5,242,090 $ 5,295,101 $ 5,348,643 $ 5,402,720 $ 5,457,338 Beginning DEVELOPER Balance Developer Reimbursement Balance $ - $ - $ 915,624 $ 5,071,705 $ 14,816,198 $ 19,116,098 $ 22,741,220 $ 32,776,007 $ 34,414,807 $ 35,890,364 $ 34,854,118 $ 33,737,359 $ 32,535,775 $ 31,244,833 $ 29,859,775 $ 28,375,599 $ 26,787,049 $ 25,088,606 $ 23,274,470 $ 21,338,548 $ 19,274,442 $ 17,075,427 $ 14,734,441 Pre-Approved Environmental Costs $ 350,000 $ - $ 350,000 $ 322,442 $ - State Tax Reimbursement $ 178,977 $ - $ 17,756 $ 161,221 $ - Local Tax Reimbursement $ 186,377 $ - $ 25,156 $ 161,221 $ - Interest (5%) $ 15,354 $ - $ 15,354 $ - Total EGLE Reimbursement Balance $ - $ 322,442 $ - $ - Local Only Costs $ 28,246,750 $ - $ 564,935 $ 4,830,195 $ 14,110,665 $ 18,205,808 $ 21,658,305 $ 31,215,245 $ 32,776,007 $ 34,414,807 $ 35,890,364 $ 34,854,118 $ 33,737,359 $ 32,535,775 $ 31,244,833 $ 29,859,775 $ 28,375,599 $ 26,787,049 $ 25,088,606 $ 23,274,470 $ 21,338,548 $ 19,274,442 $ 17,075,427 Local Tax Reimbursement $ 53,801,403 $ - $ - $ - $ - $ - $ - $ - $ - $ 233,508 $ 2,695,966 $ 2,723,300 $ 2,750,907 $ 2,778,790 $ 2,806,952 $ 2,835,396 $ 2,864,124 $ 2,893,139 $ 2,922,444 $ 2,952,043 $ 2,981,937 $ 3,012,131 $ 3,042,626 Interest (5%) $ 25,554,653 $ - $ 28,247 $ 241,510 $ 705,533 $ 910,290 $ 1,082,915 $ 1,560,762 $ 1,638,800 $ 1,709,065 $ 1,659,720 $ 1,606,541 $ 1,549,323 $ 1,487,849 $ 1,421,894 $ 1,351,219 $ 1,275,574 $ 1,194,696 $ 1,108,308 $ 1,016,121 $ 917,831 $ 813,116 $ 701,640 Total Local Only Reimbursement Balance $ - $ 593,182 $ 5,071,705 $ 14,816,198 $ 19,116,098 $ 22,741,220 $ 32,776,007 $ 34,414,807 $ 35,890,364 $ 34,854,118 $ 33,737,359 $ 32,535,775 $ 31,244,833 $ 29,859,775 $ 28,375,599 $ 26,787,049 $ 25,088,606 $ 23,274,470 $ 21,338,548 $ 19,274,442 $ 17,075,427 $ 14,734,441 Total Annual Developer Reimbursement $ - $ 42,912 $ 322,442 $ - $ - $ - $ - $ - $ 233,508 $ 2,695,966 $ 2,723,300 $ 2,750,907 $ 2,778,790 $ 2,806,952 $ 2,835,396 $ 2,864,124 $ 2,893,139 $ 2,922,444 $ 2,952,043 $ 2,981,937 $ 3,012,131 $ 3,042,626 Beginning CITY OF MUSKEGON BONDED ACTIVITIES Balance City of Muskegon Bond Reimbursement Balance $ - $ - $ 10,500,000 $ 10,759,998 $ 9,972,313 $ 8,810,967 $ 7,340,848 $ 4,961,532 $ 2,435,395 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Local Only Costs $ 10,000,000 $ - $ 10,000,000 $ 10,500,000 $ 10,759,998 $ 9,972,313 $ 8,810,967 $ 7,340,848 $ 4,961,532 $ 2,435,395 $ - Local Tax Reimbursement $ 12,608,621 $ - $ - $ 252,383 $ 1,262,558 $ 1,580,915 $ 1,819,684 $ 2,615,578 $ 2,642,108 $ 2,435,395 Interest (5%) $ 2,608,621 $ 500,000 $ 512,381 $ 474,872 $ 419,570 $ 349,564 $ 236,263 $ 115,971 $ - Total Local Only Reimbursement Balance $ 10,000,000 $ - $ 10,500,000 $ 10,759,998 $ 9,972,313 $ 8,810,967 $ 7,340,848 $ 4,961,532 $ 2,435,395 $ - $ - Total Annual City of Muskegon Reimbursement $ - $ - $ 252,383 $ 1,262,558 $ 1,580,915 $ 1,819,684 $ 2,615,578 $ 2,642,108 $ 2,435,395 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - LOCAL BROWNFIELD REVOLVING FUND LBRF Deposits * State Tax Capture $ 178,977 Local Tax Capture $ 12,499,122 Total LBRF Capture $ 12,678,099 * Up to five years of capture for LBRF Deposits after eligible activities are reimbursed. May be taken from Local TIR only. Z:\2020\201515\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ Adelaide rev 100421, 10 mil Bond.xlsx Table 2 - Estimate of Total Incremental Taxes Available for Reimbursement 2 of 2 1148 1204 West Western Avenue, Muskegon, Muskegon County, Michigan Estimated Developer Capture $ 54,166,757 Estimated City of Muskegon Capture $ 12,608,621 BRA Administrative Fee $ 290,500 State Brownfield Redevelopment Fund $ 365,244 Local Brownfield Revolving Fund $ 12,678,099 2043 2044 2045 2046 2047 2048 2049 2050 2051 TOTAL Total State Incremental Revenue $ 2,439,076 $ 2,463,684 $ 2,488,537 $ 2,513,640 $ 2,538,993 $ 2,564,599 $ 2,590,462 $ 2,616,584 $ 2,642,966 $ 62,796,559 State Brownfield Redevelopment Fund (50% of SET) $ 320,791 $ 365,244 State TIR Available for Reimbursement $ 2,439,076 $ 2,463,684 $ 2,488,537 $ 2,513,640 $ 2,538,993 $ 2,243,808 $ 2,590,462 $ 2,616,584 $ 2,642,966 $ 39,893,567 Total Local Incremental Revenue $ 3,083,426 $ 3,114,535 $ 3,145,954 $ 3,177,688 $ 3,209,738 $ 3,242,110 $ 3,274,805 $ 3,307,827 $ 3,341,179 $ 79,386,023 BRA Administrative Fee $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 290,500 Local TIR Available for Reimbursement $ 3,073,426 $ 3,104,535 $ 3,135,954 $ 3,167,688 $ 3,199,738 $ 3,232,110 $ 3,264,805 $ 3,297,827 $ 3,331,179 $ 79,095,523 Total State & Local TIR Available $ 5,512,502 $ 5,568,218 $ 5,624,491 $ 5,681,327 $ 5,738,731 $ 5,475,918 $ 5,855,267 $ 5,914,411 $ 5,974,145 $ 141,526,839 DEVELOPER Developer Reimbursement Balance $ 12,244,066 $ 9,596,509 $ 6,783,583 $ 3,796,690 $ 626,800 $ - $ - $ - $ - Pre-Approved Environmental Costs State Tax Reimbursement $ 178,977 Local Tax Reimbursement $ 186,377 Interest (5%) $ 15,354 Total EGLE Reimbursement Balance $ - Local Only Costs $ 14,734,441 $ 12,244,066 $ 9,596,509 $ 6,783,583 $ 3,796,690 $ 626,800 Local Tax Reimbursement $ 3,073,426 $ 3,104,535 $ 3,135,954 $ 3,167,688 $ 3,199,738 $ 626,800 $ 53,801,403 Interest (5%) $ 583,051 $ 456,977 $ 323,028 $ 180,795 $ 29,848 $ - $ 25,554,653 Total Local Only Reimbursement Balance $ 12,244,066 $ 9,596,509 $ 6,783,583 $ 3,796,690 $ 626,800 $ - $ - $ - Total Annual Developer Reimbursement $ 3,073,426 $ 3,104,535 $ 3,135,954 $ 3,167,688 $ 3,199,738 $ 626,800 $ - $ - $ - $ 54,166,757 CITY OF MUSKEGON BONDED ACTIVITIES City of Muskegon Bond Reimbursement Balance $ - $ - $ - $ - $ - $ - $ - $ - $ - Local Only Costs Local Tax Reimbursement $ 12,608,621 Interest (5%) $ 2,608,621 Total Local Only Reimbursement Balance $ - Total Annual City of Muskegon Reimbursement $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 12,608,621 LOCAL BROWNFIELD REVOLVING FUND LBRF Deposits * State Tax Capture $ 178,977 $ 178,977 Local Tax Capture $ 2,605,310 $ 3,264,805 $ 3,297,827 $ 3,331,179 $ 12,499,122 Total LBRF Capture $ 12,678,099 * Up to five years of capture for LBRF Deposits after eligible activities are reimbursed. May be taken from Local TIR only. Z:\2020\201515\WORK\Rept\Brownfield Plan Amendment\TIF Tables\TB 1 TBL02 and TBL03_TIF_ Adelaide rev 100421, 10 mil Bond.xlsx Attachment A Conceptual Renderings Attachment B Environmental Data Tables and Map LEGEND Approximate Property Boundary @ A Groundwater Sample Location H ! Soil Gas Sample Location H ! Soil Sample Location Units- Soil samples µg/Kg Groundwater samples µg/L Blue shading indicates a groundwater sample. Hard copy is Yellow shading indicates a soil sample. intended to be 8.5"x11" when plotted. Scale(s) indicated and graphic quality may not be accurate for any other size. 1148 & 1204 West Western Ave., Muskegon, Muskegon County MI 49441 Leestma Management, LLC Baseline Environmental Assessment SB-07(2-3') 12/30/2 Arsenic 19,000 Cadmium 13,000 SB-04 (4-5') Chromium, Total 190,000 12/30/20 Copper 430,000 Chromium, Total 30,000 Selenium 560 Selenium 600 TW-03 H SB-07 ! 12/30/20 H SB-04 ! Benzene 9.7 Cadmium 7.2 Chromium, Total 33 Copper 150 SB-06 (1-2') Lead 180 SB-03 (3-4') 12/30/20 12/30/20 Chromium, Total 14,000 Mercury 0.65 Zinc 190 Chromium, Total 27,000 Selenium 960 Selenium 1,100 H SB-06 ! TW-03 @ A H SB-03 ! SB-02 (4-5') 12/30/20 Arsenic 5,900 PLOT INFO: Z:\2020\201515\CAD\GIS\mapdoc\BEA\FIG05_ExceedanceMap.mxd Date: 1/18/2021 12:29:56 PM User: bahannah SB-01 (4-5') Cadmium 8,100 H SB-05 ! 12/30/20 Chromium, Total 24,000 SB-05(2-3') Tetrachloroethene 170 Selenium 1,000 12/30/20 Chromium, Total 6,700 Selenium 1,400 Cadmium Chromium, Total 4,900 49,000 H SB-02 ! Copper 76,000 H! ! H SB-01 Selenium 770 SG-03 H ! H ! SG-04 SG-01 TW-01 @ A H ! SG-02 TW-02 @ A PROJECT NO. 201515 SAMPLE EXCEEDANCE Source: Esri, Maxar, MAP GeoEye, Earthstar Geographics, CNES/Airbus DS, USDA, USGS, AeroGRID, IGN, and the GIS User Community, FIGURE NO. 4 Esri, HERE, Garmin, (c) OpenStreetMap contributors, Esri, HERE, FEET NORTH 0 Garmin, 150(c) OpenStreetMap 300 contributors, and the GIS user community ©Copyright 2021 All Rights Reserved Fishbeck | 1 of 1 Table 1 - Soil Data Summary Baseline Environmental Assessment Leestma Management, LLC, 1148 & 1204 West Western Ave., Muskegon, Muskegon County, MI December 2020 Sample Location: SB-01 SB-01 SB-02 SB-03 SB-04 SB-05 SB-06 SB-07 FB-01 Statewide Finite VSIC Finite VSIC Depth Interval (ft): (4-5) (4-5) (4-5) (3-4) (4-5) (2-3) (1-2) (2-3) Drinking Water Soil Volatilization to Infinite Particulate Direct Soil Saturation Default GSIP for 5 Meter for 2 Meter Investigative/Field Duplicate/QC: Investigative Duplicate Investigative Investigative Investigative Investigative Investigative Investigative QC Protection Indoor Air Inhalation Source Soil Inhalation Contact Concentration Background Criteria (1) Source Source Laboratory ID: 20L0979-01 20L0979-02 20L0979-03 20L0979-04 20L0979-05 20L0979-06 20L0979-07 20L0979-08 20L0979-09 Criteria (1) Criteria (1) VSIC (1) Criteria (1) Criteria (1) SL (1) Levels (1) Thickness (1) Thickness (1) Collection Date: 12/30/20 12/30/20 12/30/20 12/30/20 12/30/20 12/30/20 12/30/20 12/30/20 12/30/20 Volatile Organic Compounds CAS Number Tetrachloroethene 127-18-4 170 150 58 U 57 U 50 U 50 U 61 U 50 U 50 U NA 100 1,200 (X) 11,000 1.70E+05 4.80E+05 1.10E+06 2.70E+09 2.00E+05 (C) 88,000 Polynuclear Aromatic Compounds CAS Number Benzo(a)pyrene 50-32-8 330 U 330 U 350 330 UJ 330 U 330 U 330 UJ 430 -- NA NLL NLL NLV NLV NLV NLV 1.50E+06 2,000 NA Benzo(b)fluoranthene 205-99-2 330 U 400 550 330 UJ 330 U 330 U 330 UJ 520 -- NA NLL NLL ID ID ID ID ID 20,000 NA Metals, Total CAS Number Arsenic (B) 7440-38-2 4,000 J 3,600 5,900 2,000 U 3,500 4,900 2,000 U 19,000 -- 5,800 4,600 4,600 NLV NLV NLV NLV 7.20E+05 7,600 NA Barium (B) 7440-39-3 15,000 18,000 10,000 15,000 23,000 16,000 11,000 100,000 -- 75,000 1.30E+06 4.40E+05 (G) NLV NLV NLV NLV 3.30E+08 3.70E+07 NA Cadmium (B) 7440-43-9 1,700 1,600 8,100 2,400 3,600 4,900 720 13,000 -- 1,200 6,000 3,600 (G,X) NLV NLV NLV NLV 1.70E+06 5.50E+05 NA Chromium, Total (B, H) 7440-47-3 6,700 5,900 24,000 27,000 30,000 49,000 14,000 190,000 -- 18,000 (total) 30,000 3,300 NLV NLV NLV NLV 2.60E+05 2.50E+06 NA Copper (B) 7440-50-8 38,000 J 20,000 34,000 34,000 53,000 76,000 12,000 430,000 -- 32,000 5.80E+06 75,000 (G) NLV NLV NLV NLV 1.30E+08 2.00E+07 NA Lead (B) 7439-92-1 22,000 20,000 34,000 27,000 19,000 20,000 12,000 66,000 -- 21,000 7.00E+05 5.10E+06 (G,X) NLV NLV NLV NLV 1.00E+08 4.00E+05 NA Mercury (Total) (B) 7439-97-6 50 U 50 U 50 U 57 50 U 64 50 U 50 U -- 130 1,700 50 (M); 1.2 48,000 52,000 52,000 52,000 2.00E+07 1.60E+05 NA Selenium (B) 7782-49-2 1,400 1,400 1,000 1,100 600 770 960 560 -- 410 4,000 400 NLV NLV NLV NLV 1.30E+08 2.60E+06 NA Silver (B) 7440-22-4 490 U 470 U 490 U 490 U 490 U 460 U 470 U 430 U -- 1,000 4,500 100 (M); 27 NLV NLV NLV NLV 6.70E+06 2.50E+06 NA Zinc (B) 7440-66-6 15,000 14,000 23,000 47,000 40,000 62,000 33,000 74,000 -- 47,000 2.40E+06 1.70E+05 (G) NLV NLV NLV NLV ID 1.70E+08 NA Solids, Total (%) -- 90 91 88 89 89 90 87 92 -- -- -- -- -- -- -- -- -- -- -- Results expressed in µg/Kg dry weight (except for FB-01, which is µg/Kg wet weight). Bolded values exceed Statewide Default Background Level and an applicable criterion or screening level. Italicized values are below Statewide Default Background Level but exceed an applicable criterion or screening level. Underlined parameters are classified as Polynuclear Aromatic Compounds. Data Qualifiers: J Estimated value U Not detected Footnotes/Abbreviations: (1) Part 201 Residential Soil Generic Cleanup Criteria and Screening Levels/Part 213 Risk-based Screening Levels, December 30, 2013 (GSI Criteria Updated June 25, 2018). (2) EGLE Volatilization to Indoor Air Pathway Screening Levels, September 4, 2020. (B) Background, as defined in R 299.5701(b), may be substituted if higher than the calculated criterion. (C) Value is screening level based on the chemical-specific generic soil saturation concentration (Csat). (G) Criterion dependent on receiving surface water (SW) hardness; calculated criteria based on water hardness of 150 mg/L. (H) Data provided for total chromium only; evaluated against hexavalent chromium criteria. (J) Hazardous substance may be present in several isomer forms. Isomer-specific concentrations must be added together for comparison to criteria. (JT) Hazardous substance may be present in several isomer forms. The VIAP SL may be used for the individual isomer provided that it is the sole isomer detected; however, when multiple isomers are detected in a medium, the isomer-specific concentrations must be added together and compared to the most restrictive VIAP SL of the detected isomers. (M) Calculated criterion is below the target detection limit (TDL); first number is the criterion (TDL), the second is the risk-based value. (M*) The VIAP SL may be below TDL. In accordance with Sec. 20120a(10) when the TDL for a hazardous substance is greater than the developed VIAP SL, the TDL is used to evaluate the risk posed from the pathway. (W) Concentrations of trihalomethanes must be added together to determine compliance with criterion. (X) Criterion is not protective for SW used as a drinking water (DW) source. (DD) Hazardous substance causes developmental effects. Residential VIAP SLs are protective of both prenatal exposure using a pregnant female receptor and postnatal exposure using a child receptor. Prenatal developmental effects may occur after an acute (i.e. short- term) or full-term exposure. (EE) The acceptable air concentration (AAC) for the volatile hazardous substances is not derived using standard equations. The hazardous substance may cause adverse human health effects for less than chronic exposures (i.e. short-term or acute). The AAC for these hazardous substances is the acute or intermediate minimum risk level (MRL) developed by the Agency for Toxic Substances and Disease Registry (ATSDR), a USEPA Integrated Risk Information System (IRIS) acute reference concentration, or an acute initial threshold screening level (ITSL) by the EGLE’s Air Quality Division. (MM) Hazardous substance is a carcinogen with a mutagenic mode of action. The cancer potency values used in calculating VIAP SLs are modified using age-dependent adjustment factors for those carcinogenic chemicals identified as mutagenic. DATA Insufficient physical chemical parameters to calculate a VIAP SL for specified media. If detections are present in specified media, health-based soil vapor value should be used to evaluate risk. GSIP groundwater surface water interface protection ID Insufficient data to develop criterion. NA not available NLL Not likely to leach under most soil conditions. NLV Not likely to volatilize under most conditions. SL screening level VIAP volatilization to indoor air pathway VSIC volatile soil inhalation criteria \\ftch\allprojects\2020\201515\WORK\Rept\BEA\TBL01_DataSummary-Soil-Res_2020_0114.xlsx 1/19/2021 Fishbeck | 1 of 1 Table 2 - Groundwater Data Summary Baseline Environmental Assessment Leestma Management, LLC, 1148 & 1204 West Western Ave., Muskegon, Muskegon County, MI December 2020 Monitoring Location: TW-01 TW-02 TW-03 TW-03 TB-01 Residential Flammability Field Duplicate: Duplicate Residential GSI Water (1) (1) Groundwater (1) and Explosivity Laboratory ID: 20L0979-10 20L0979-11 20L0979-12 20L0979-14 20L0979-15 DWC Criteria (1) Solubility (1) VIAIC SL Collection Date: 12/30/20 12/30/20 12/30/20 12/30/20 12/30/20 Volatile Organic Compounds CAS Number Benzene 71-43-2 1U 1U 9.7 9.9 1U 5.0 200 (X) 5,600 1.75E+06 68,000 Polychlorinated Biphenyls CAS Number Total PCBs (J) 1336-36-3 0.2 U 0.2 U 0.2 UJ 0.2 UJ -- 0.50 0.20 (M); 2.60E-05 45 (S) 44.7 ID Metals, Total CAS Number Arsenic (B) 7440-38-2 5U 5U 7.7 7.9 -- 10 10 NLV NA ID Barium (B) 7440-39-3 100 U 100 U 220 240 -- 2,000 670 (G) NLV NA ID Cadmium (B) 7440-43-9 1U 1U 7.2 7.3 -- 5.0 3.0 (G,X) NLV NA ID Chromium, Total (B, H) 7440-47-3 10 U 10 U 33 34 -- 100 11 NLV NA ID Copper (B) 7440-50-8 5U 5U 150 150 -- 1,000 (E) 13 (G) NLV NA ID Lead (B) 7439-92-1 3U 3U 180 180 -- 4.0 (L) 34 (G,X) NLV NA ID Mercury (B) 7439-97-6 0.2 U 0.2 U 0.65 0.61 -- 2.0 0.0013 56 (S) 56 ID Selenium (B) 7782-49-2 5U 5U 5U 5U -- 50 5.0 NLV NA ID Silver (B) 7440-22-4 1U 1U 1U 1U -- 34 0.20 (M); 0.060 NLV NA ID Zinc (B) 7440-66-6 50 U 50 U 190 190 -- 2,400 170 (G) NLV NA ID Results expressed in µg/L. Bolded values exceed an applicable criterion and/or screening level. Underlined compounds classified as polynuclear aromatic compounds. Data Qualifiers: J Estimated value U Not detected above the given limit Footnotes/Abbreviations: (1) Part 201 Groundwater Generic Cleanup Criteria/Part 213 Tier 1 Risk-based Screening Levels, January 10, 2018 (GSI Criteria Updated June 25, 2018). (2) EGLE Volatilization to Indoor Air Pathway Screening Levels, September 4, 2020. (B) Background, as defined in R 299.5701(b), may be substituted if higher than the calculated criterion. (E) Aesthetic drinking water (DW) value. Notice of aesthetic impact may be employed as an institutional control if concentration exceeds the aesthetic DWC but not the health-based DW value. (G) Criterion dependent on receiving surface water (SW) hardness; calculated criteria based on water hardness of 150 mg/L. (H) Data provided for total Chromium only; compare to hexavalent Chromium criteria. (J) Substance present in several isomer forms; isomer concentrations must be added together for comparison to criteria. (JT) Substance present in several isomer forms. The VIAP SL may be used for the individual isomer provided that it is sole isomer detected; however, when multiple isomers are detected in a medium, (L) Concentrations up to the State action level of 15 µg/L may still allow for DW use if soil concentrations are below 400 mg/Kg. (M) Calculated criterion is below the target detection limit (TDL); first number is the criterion (TDL), the second is the risk-based value. (M*) The VIAP SL may be below target detection limits (TDL). In accordance with Sec. 20120a(10) when the TDL for a hazardous substance is greater than the developed VIAP SL, the TDL is used to (S) Criterion defaults to the hazardous substance-specific water solubility limit. (W) Concentrations of trihalomethanes must be added together to determine compliance with the DWC. (X) Criterion is not protective for SW used as a DW source. (AA) Use 10,000 µg/L where GW enters a structure through the use of a water well, sump or other device. Use 28,000 µg/L for all other uses. (CC) Insufficient chemical-physical input parameters have been identified to allow the development of a VIAP SL using standard equations. The VIAP SL for GW is developed based solely on the approach that the department uses for shallow GW. If GW detections are present, soil vapor may be the most appropriate media to evaluate risk. (DD) Hazardous substance causes developmental effects. Residential VIAP SLs are protective of both prenatal exposure using a pregnant female receptor and postnatal exposure using a child receptor. Prenatal developmental effects may occur after an acute (i.e. short- term) or full-term exposure. (EE*) The acceptable air concentration (AAC) for the volatile hazardous substance is not derived using standard equations. The hazardous substance may cause adverse human health effects for less than chronic exposures (i.e. short-term or acute). The AAC for this hazardous substance is the acute or intermediate minimum risk level (MRL) developed by the Agency for Toxic Substances and Disease Registry (ATSDR), a USEPA Integrated Risk Information System (IRIS) acute reference concentration, or an acute initial (FF*) The AAC for the volatile hazardous substances are based on toxicity values that have been identified to have the potential to cause adverse human health effects for less than chronic exposures (i.e. short-term or acute). The short-term exposure for shallow groundwater VIAP SLs are based on modification of the standard equations by the department to develop applicable shallow groundwater VIAP SLs. (MM) Hazardous substance is a carcinogen with a mutagenic mode of action. The cancer potency values used in calculating VIAP SLs are modified using age-dependent adjustment factors for those carcinogenic chemicals identified as mutagenic. DWC drinking water criterion GSI groundwater surface water interface ID Insufficient data to develop criterion. NA not available NLV Not likely to volatilize under most conditions. SL screening level TX The Remediation and Redevelopment Division Toxicology Unit has not identified an inhalation toxicity value for the hazardous substance at the date of publication of these values. VIAIC volatilization to indoor air inhalation criteria VIAP volatilization to indoor air pathway \\ftch\allprojects\2020\201515\WORK\Rept\BEA\TBL02_DataSummary-GW-Res_2021_0114.xlsx 1/19/2021 Attachment C Resolutions Approving the Brownfield Plan Amendment Attachment D Reimbursement Agreement DEVELOPMENT AND REIMBURSEMENT AGREEMENT This DEVELOPMENT AND REIMBURSEMENT AGREEMENT (the “Agreement”) is made on _________, ______, by and among the CITY OF MUSKEGON BROWNFIELD REDEVELOPMENT AUTHORITY, a Michigan public body corporate whose address is 933 Terrace Street, Muskegon, Michigan 49443 (the “Authority”), the CITY OF MUSKEGON, a public body corporate whose address is 933 Terrace Street, Muskegon, Michigan 49443 (the “City”), and Adelaide Pointe QOZB, LLC, a Michigan limited liability company whose address is 1204 West Western Avenue, Muskegon, Michigan 49441 (the “Developer”). RECITALS A. Pursuant to P.A. 381 of 1996, as amended (“Act 381”), the Authority approved and recommended a Brownfield Plan which was duly approved by the City (the “Plan”). The Plan was amended on _________ (the “Amendment,” and, together with the Plan, the “Brownfield Plan” – See Exhibit A) to identify a new marina, boat storage, commercial/residential redevelopment project proposed by Developer and the City. B. The Brownfield Plan includes specific eligible activities associated with the Developer’s plan to develop approximately 35 acres of land located at 1148 & 1204 West Western Avenue in Muskegon, Michigan (collectively, the “Developer Property”). C. The Brownfield Plan also includes specific eligible activities associated with the City’s plan to make improvements to the public infrastructure associated with the development. D. The Developer owns the Developer Property, which is included in the Brownfield Plan as an “eligible property” because it was determined to be a “facility”, as defined by Part 201 of the Natural Resources and Environmental Protection Act (“Part 201”), or adjacent and contiguous to an “eligible property.” E. The Developer intends to conduct eligible activities on the Developer Property including revitalizing existing site structures for boat storage, busines offices, and lease space (approx. 218,000 sf); creation of a new 280 slip marina and construction of a three-story, mixed-use building with ground level retail and office space, a second- floor restaurant, and third floor deck area (approx. 7,500 sf); 50 boat condos (totaling approx. 250,000 gross sf); and 250 - 300 residential condo units (averaging approx. 1,500 sf each) within a six building footprint (the “Project”), including department specific activities, demolition, site preparation and infrastructure improvement activities, a 15% contingency and brownfield plan/work plan preparation and development, as described in the Brownfield Plan, with an estimated cost of $54,166,757 (the “Developer Eligible Activities”). As part of the Project, the City also intends to conduct certain eligible public infrastructure improvement activities, as described in the Brownfield Plan, with an estimated cost of $12,608,621 (the “City Eligible Activities”). All of the Developer Eligible Activities and the City Eligible Activities (together, the “Eligible Activities”) are eligible for reimbursement under Act 381. The total cost of the Eligible Activities, including contingencies, are $66,775,378 (the “Total Eligible Brownfield TIF Costs”). F. Act 381 permits the Authority to capture and use local and certain school property tax revenues generated from the incremental increase in property value of a redeveloped brownfield site constituting an “eligible property” under Act 381 (the “Brownfield TIF Revenue”) to pay or to reimburse the payment of Eligible Activities conducted on the “eligible property.” The Brownfield TIF Revenue will be used to reimburse the Developer for the Developer Eligible Activities and the City for the City Eligible Activities incurred and approved for the Project. G. In accordance with Act 381, the parties desire to establish the procedure for using the available Brownfield TIF Revenue generated from the Property to reimburse the Developer and the City for completion of Eligible Activities on the Property in an amount not to exceed the Total Eligible Brownfield TIF Costs. NOW, THERFORE, the parties agree as follows: 1. Reimbursement Source. (a) During the Term (as defined below) of this Agreement, and except as set forth in paragraph 2 below, the Authority shall reimburse the Developer and City for the costs of their Eligible Activities conducted on the Developer Property from the Brownfield TIF Revenue collected from the real and taxable personal property taxes on the Developer Property. The amount reimbursed to the Developer and City, respectively, for their Eligible Activities shall not exceed the Total Eligible Brownfield TIF Costs, and reimbursements shall be made on approved costs submitted and approved in connection with the Developer Eligible Activities and the City Eligible Activities, as follows: (i) the Authority shall first pay 100% of available Brownfield TIF Revenue to the City to reimburse the cost of City Eligible Activities up to $12,608,621 for costs; and (ii) the Authority shall, following reimbursement to the City of the first $12,608,621 described in 1(a)(i) above, pay 100% of available Brownfield TIF Revenue to Developer to reimburse the cost of the remaining Developer Eligible Activities submitted and approved for reimbursement by the Authority until Developer is fully reimbursed; and (b) The Authority shall capture Brownfield TIF Revenue from the Property and reimburse the Developer and City for their Eligible Activities until the earlier of the City and Developer each being fully reimbursed or December 31, 2051. Unless otherwise prepaid by the Authority, payments to the City and Developer shall be made on a semi- annual basis as incremental local taxes are captured and available. 2 2. Developer Reimbursement Process. (a) The Developer shall submit to the Authority, not more frequently than on a quarterly basis, a “Request for Cost Reimbursement” for Developer Eligible Activities paid for by the Developer during the prior period. All costs for the Developer Eligible Activities must be consistent with the approved Brownfield Plan. The Developer must include documentation sufficient for the Authority to determine whether the costs incurred were for Developer Eligible Activities, including detailed invoices and proof of payment. Copies of all invoices for Developer Eligible Activities must note what Developer Eligible Activities they support. (b) Unless the Authority disputes whether such costs are for Developer Eligible Activities within thirty (30) days after receiving a Request for Cost Reimbursement from the Developer, the Authority shall pay the Developer the amounts for which submissions have been made pursuant to paragraph 2(a) of this Agreement in accordance with the priority set forth in paragraph 1, from which the submission may be wholly or partially paid from available Brownfield TIF Revenue from the Developer Property. (i) The Developer shall cooperate with the Authority’s review of its Request for Cost Reimbursement by providing supplemental information and documentation which may be reasonably requested by the Authority. (ii) If the Authority determines that requested costs are ineligible for reimbursement, the Authority shall notify the Developer in writing of its reasons for such ineligibility within the Authority’s thirty (30) day period of review. The Developer shall then have thirty (30) days to provide supplemental information or documents to the Authority demonstrating that the costs are for Developer Eligible Activities and are eligible for reimbursement. (c) If a partial payment is made to the Developer by the Authority because of insufficient Brownfield TIF Revenue captured in the semi-annual period for which reimbursement is sought, the Authority shall make additional payments toward the remaining amount within thirty (30) days of its receipt of additional Brownfield TIF Revenue from the Developer Property until all of the amounts for which submissions have been made have been fully paid to the Developer, or by the end of the Term (as defined below), whichever occurs first. The Authority is not required to reimburse the Developer from any source other than Brownfield TIF Revenue. (d) The Authority shall send all payments to the Developer by registered or certified mail, addressed to the Developer at the address shown above, or by electronic funds transfer directly to the Developer’s bank account. The Developer may change its address by providing written notice sent by registered or certified mail to the Authority. 3. City Reimbursement Process. (a) The City shall submit to the Authority, not more frequently than on a quarterly basis, a “Request for Cost Reimbursement” for City Eligible Activities paid for by the City during the prior period. All costs for the City Eligible Activities must be 3 consistent with the approved Brownfield Plan. The City must include documentation sufficient for the Authority to determine whether the costs incurred were for City Eligible Activities, including detailed invoices and proof of payment. Copies of all invoices for City Eligible Activities must note what City Eligible Activities they support. (b) Unless the Authority disputes whether such costs are for City Eligible Activities within thirty (30) days after receiving a Request for Cost Reimbursement from the City, the Authority shall pay the City the amounts for which submissions have been made pursuant to paragraph 3(a) of this Agreement in accordance with the priority set forth in paragraph 1, from which the submission may be wholly or partially paid from available Brownfield TIF Revenue from the Developer Property. (i) The City shall cooperate with the Authority’s review of its Request for Cost Reimbursement by providing supplemental information and documentation which may be reasonably requested by the Authority. (ii) If the Authority determines that requested costs are ineligible for reimbursement, the Authority shall notify the City in writing of its reasons for such ineligibility within the Authority’s thirty (30) day period of review. The City shall then have thirty (30) days to provide supplemental information or documents to the Authority demonstrating that the costs are for City Eligible Activities and are eligible for reimbursement. (c) If a partial payment is made to the City by the Authority because of insufficient Brownfield TIF Revenue captured in the semi-annual period for which reimbursement is sought, the Authority shall make additional payments toward the remaining amount within thirty (30) days of its receipt of additional Brownfield TIF Revenue from the Developer Property until all of the amounts for which submissions have been made have been fully paid to the City, or by the end of the Term (as defined below), whichever occurs first. The Authority is not required to reimburse the City from any source other than Brownfield TIF Revenue. (d) The Authority shall send all payments to the City by registered or certified mail, addressed to the City at the address shown above, or by electronic funds transfer directly to the City’s bank account. The City may change its address by providing written notice sent by registered or certified mail to the Authority. 4. Term of Agreement. The Authority’s obligation to reimburse the City and Developer for the Total Eligible Brownfield TIF Costs incurred by each party under this Agreement shall terminate the earlier of the date when all reimbursements to the City and Developer required under this Agreement have been made or December 31, 2051 (the “Term”). If the Brownfield TIF Revenue ends before all of the Total Eligible Brownfield TIF Costs have been fully reimbursed to the City and Developer, the last reimbursement payment by the Authority shall be paid from the summer and winter tax increment revenue collected during the final year of this Agreement. 4 5. Adjustments. If, due to an appeal of any tax assessment or reassessment of any portion of the Developer Property, or for any other reason, the Authority is required to reimburse any Brownfield TIF Revenue to any tax levying unit of government, the Authority may deduct the amount of any such reimbursement, including interest and penalties, from any amounts due and owing to the Developer and City. If all amounts due to the City and Developer under this Agreement have been fully paid or the Authority is no longer obligated to make any further payments to the City or Developer, the Authority shall invoice the Developer and City for the amount of such reimbursement and the Developer and City shall pay the Authority such invoiced amount within thirty (30) days of the receipt of the invoice. Amounts withheld by or invoiced and paid to the Authority by the Developer and City pursuant to this paragraph shall be reinstated as Developer Eligible Activities and City Eligible Activities, respectively, for which the Developer and City shall have the opportunity to be reimbursed in accordance with the terms, conditions, and limitations of this Agreement. Nothing in this Agreement shall limit the right of the Developer to appeal any tax assessment. 6. Legislative Authorization. This Agreement is governed by and subject to the restrictions set forth in Act 381. If there is legislation enacted in the future that alters or affects the amount of Brownfield TIF Revenue subject to capture, eligible property, or Eligible Activities, then the Developer’s and City’s rights and the Authority’s obligations under this Agreement shall be modified accordingly as required by law, or by agreement of the parties. 7. Notices. All notices shall be given by registered or certified mail addressed to the parties at their respective addresses as shown above. Any party may change the address by written notice sent by registered or certified mail to the other party. 8. Assignment. This Agreement and the rights and obligations under this Agreement shall not be assigned or otherwise transferred by any party without the consent of the other party, which shall not be unreasonably withheld, provided, however, the Developer and City may assign their interest in this Agreement to an affiliate without the prior written consent of the Authority if such affiliate acknowledges its obligations to the Authority under this Agreement upon assignment in writing on or prior to the effective date of such assignment, provided, further, that the Developer and City may each make a collateral assignment of their share of the Brownfield TIF Revenue for project financing purposes. As used in this paragraph, “affiliate” means any corporation, company, partnership, limited liability company, trust, sole proprietorship or other entity or individual which (a) is owned or controlled by the Developer or City, (b) owns or controls the Developer or City or (c) is under common ownership or control with the Developer or City. This Agreement 5 shall be binding upon and inure to the benefit of any successors or permitted assigns of the parties. 9. Entire Agreement. This Agreement supersedes all agreements previously made between the parties relating to the subject matter. There are no other understandings or agreements between the parties. 10. Non-Waiver. No delay or failure by either party to exercise any right under this Agreement, and no partial or single exercise of that right, constitutes a waiver of that or any other right, unless otherwise expressly provided herein. 11. Governing Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Michigan. 12. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. [Signature page follows] 6 The parties have executed this Agreement on the date set forth above. CITY OF MUSKEGON BROWNFIELD REDEVELOPMENT AUTHORITY _______________________________ By: Its: CITY OF MUSKEGON _______________________________ By: Its: ADELAIDE POINTE QOZB, LLC _______________________________ By: Its: 19886336-2 Signature Page to Development and Reimbursement Agreement EXHIBIT A Copy of Brownfield Plan 8 Muskegon Downtown Development Authority Agenda item A for 11-9-21 Acceptance of financial statement Oct. 31, 2021 Requesting party: City Economic Development Outline of request: Staff is asking the DDA board to review and accept the financial statement for Oct. 31, 2021. Background: The finances of the DDA are status quo since the last meeting Staff comments: None Staff recommendation: To accept the Oct. 31, 2021 financial statement. Suggested motion: I move to accept the Oct. 31, 2021 financial statement. DDA FINANCIAL FOR 10/31/2021 FY TOTALS Revenues FY 2020-21 BUDGET FY2020-21 ACTUAL FY2021-22 BUDGET OCTOBER 31, 2021 Tax Increment $ 490,931.00 $ 490,931.00 $ 310,287.00 $ - Reimbursement - State $ - $ - $ - Event Revenue* $ - $ - Trans From Capital Projects Fund $ - $ - Interest Income $ 100.00 $ 578.94 $ - $ - Fundraising Revenue BID Income (or $50,000 levy)** $ 112,653.00 $ 50,000.00 $ 17,000.00 $ - Sponsorship $ - $ - $ - Former Mall Brownfield Income (GF) $ - $ - $ - Total $ 603,684.00 $ 541,509.94 $ 327,287.00 $ - Expenses FY 2020-21 FY2020-21 ACTUAL FY 2021-22 FY 2021-22 Business Dev. Manager Wages $ 73,781.00 $ 75,024.35 $ 22,843.13 Trans to GF - Marketing, Events, Overhead $ - $ - FICA (7.65%) $ 5,848.00 $ 5,651.85 $ - $ 2,055.88 Workers Comp (2%) $ 410.00 $ 430.76 $ - $ 145.15 Insurance $ 7,748.00 $ - $ 1,641.77 Residency Bonus (4%) $ 2,743.00 $ 4,881.40 $ - Life Insurance (0.24%) $ 270.00 $ 301.84 $ - $ 109.36 401(k) (6%) $ 8,000.00 $ 6,756.40 $ - $ 2,377.81 Total Salaries/Benefits $ 98,800.00 $ 93,046.60 $ 95,500.00 $ 29,173.10 Walkability Improvements $ - $ - Streetscape/Wayfinding / Walkability $ - $ - Public Art (Downtown Initiative) $ - $ - Landscaping $ 3,000.00 $ 15,000.00 Snow Removal $ - Façade Program $ - $ - Financial Incentives $ - $ - Downtown Park(s)**** $ - $ 3,598.80 $ 9,000.00 $ 6,099.77 Marketing/Promotions $ - $ 9,703.22 $ 32,000.00 $ 1,003.04 Blight $ - Office Space and Misc Operating $ - $ 6,909.23 $ 9,000.00 $ 2,849.10 Total Recurring Costs $ - $ 23,211.25 $ 65,000.00 $ 9,951.91 Morris Street Lot $ - $ - $ - Taste of Muskegon $ - $ - Lakeshore Art Festival $ - Projects and Events $ - $ - $ - $ - County Debt Payments ($1M) $ - $ 134,072.00 $ - Mercy Health Arena HVAC/Roof******* $ 208,051.00 $ 208,051.00 $ 130,000.00 Other Debt Payments (smartzone) $ - $ - $ - Total Debt Payments $ 208,051.00 $ 342,123.00 $ 130,000.00 $ - Total Expenses $ 306,851.00 $ 458,380.85 $ 290,500.00 $ 39,125.01 Net Rev/Expenses $ 296,833.00 $ 83,129.09 $ 36,787.00 $ (39,125.01) Fund Balance at Beginning of Year $ 6,347.00 $ 89,476.09 Fund Balance at End of Year $ 89,476.09 $ 50,351.08 O:\Planning\COMMON\DDA - BRA\DDA - BRA 2021 - current year\110921 DDABRA meeting\DDA financials 11-9-21 EVENTS FINANCIAL FOR 10/31/2021 FY TOTALS OCTOBER Revenues FY 2020-21 BUDGET FY2020-21 ACTUAL FY2021-22 BUDGET 31, 2021 Tax Increment $ - $ - $ - $ - Reimbursement - State $ - $ - $ - Event Revenue* $ 96,200.00 $ 75,635.38 $ 161,750.00 $ 52,759.00 Trans From Capital Projects Fund $ - $ - Interest Income $ - $ - $ - $ - Fundraising Revenue** $ 5,000.00 $ 5,009.78 $ 5,000.00 $ - BID Income (or $50,000 levy)** $ - $ - $ - $ - Sponsorship $ 70,000.00 $ 37,680.00 $ 87,000.00 $ 19,130.00 Former Mall Brownfield Income (GF) $ - $ - $ - Total $ 171,200.00 $ 118,325.16 $ 253,750.00 $ 71,889.00 Expenses FY 2020-21 FY2020-21 ACTUAL FY 2021-22 FY 2021-22 Business Dev. Manager Wages $ - $ - $ - $ - Trans to GF - Marketing, Events, Overhead $ - $ - $ - $ - FICA (7.65%) $ - $ - $ - $ - Workers Comp (2%) $ - $ - $ - $ - Insurance $ - $ - $ - $ - Residency Bonus (4%) $ - $ - $ - $ - Life Insurance (0.24%) $ - $ - $ - $ - 401(k) (6%) $ - $ - $ - $ - Total Salaries/Benefits $ - $ - $ - $ - Walkability Improvements $ - $ - $ - $ - Streetscape/Wayfinding / Walkability $ - $ - $ - $ - Public Art (Downtown Initiative) $ - $ - $ - $ - Landscaping $ - $ - $ - $ - Snow Removal $ - $ - $ - $ - Façade Program $ - $ - $ - $ - Financial Incentives $ - $ - $ - $ - Downtown Park(s)**** $ - $ - $ - $ - Marketing/Promotions $ - $ - $ - $ - Blight $ - $ - $ - $ - Office Space and Misc Operating $ - $ - $ - $ - Total Recurring Costs $ - $ - $ - $ - Morris Street Lot $ - $ - $ - Taste of Muskegon $ 2,600.00 $ 2,210.24 $ 65,375.00 $ 70,368.68 Lakeshore Art Festival $ 159,279.00 $ 120,497.72 $ 159,279.00 $ 14,109.22 Projects and Events $ 161,879.00 $ 122,707.96 $ 224,654.00 $ 84,477.90 County Debt Payments ($1M) $ - $ - $ - Mercy Health Arena HVAC/Roof******* $ - $ - $ - Other Debt Payments (smartzone) $ - $ - $ - Total Debt Payments $ - $ - $ - $ - Total Expenses $ 161,879.00 $ 122,707.96 $ 224,654.00 $ 84,477.90 Net Rev/Expenses $ 9,321.00 $ (4,382.80) $ 29,096.00 $ (12,588.90) Fund Balance at Beginning of Year $ - $ (4,382.80) Fund Balance at End of Year $ (4,382.80) $ (16,971.70) O:\Planning\COMMON\DDA - BRA\DDA - BRA 2021 - current year\110921 DDABRA meeting\DDA financials 11-9-21 BID FINANCIAL FOR 10/31/2021 FY TOTALS OCTOBER Revenues FY 2020-21 BUDGET FY2020-21 ACTUAL FY2021-22 BUDGET 31, 2021 Tax Increment $ - $ - $ - $ - Reimbursement - State $ - $ - $ - $ - Event Revenue* $ - $ - $ - $ - Trans From Capital Projects Fund $ - $ - $ - $ - Interest Income $ - $ 631.12 $ - $ - Fundraising Revenue** $ - $ - $ - $ - BID Income (or $50,000 levy)** $ - $ 115,306.55 $ 112,000.00 $ 3,972.68 Sponsorship $ - $ - $ - $ - Former Mall Brownfield Income (GF) $ - $ - $ - Total $ - $ 115,937.67 $ 112,000.00 $ 3,972.68 Expenses FY 2020-21 FY2020-21 ACTUAL FY 2021-22 FY 2021-22 Business Dev. Manager Wages $ - $ - $ - $ - Trans to GF - Marketing, Events, Overhead $ - $ - $ - $ - FICA (7.65%) $ - $ - $ - $ - Workers Comp (2%) $ - $ - $ - $ - Insurance $ - $ - $ - $ - Residency Bonus (4%) $ - $ - $ - $ - Life Insurance (0.24%) $ - $ - $ - $ - 401(k) (6%) $ - $ - $ - $ - Total Salaries/Benefits $ - $ - $ - $ - Bid Expenses $ - $ 159,762.00 $ - $ 2,000.00 Streetscape/Wayfinding / Walkability $ - $ - $ - $ - Public Art (Downtown Initiative) $ - $ - $ - $ - Landscaping $ - $ - $ 65,000.00 $ 5,202.26 Snow Removal $ - $ - $ 30,000.00 $ - Façade Program $ - $ - $ - $ - Financial Incentives $ - $ - $ - $ - Downtown Park(s)**** $ - $ - $ - $ - Marketing/Promotions $ - $ - $ - $ - Blight $ - $ - $ - $ - Office Space and Misc Operating $ - $ - $ 17,000.00 $ - Total Recurring Costs $ - $ 159,762.00 $ 112,000.00 $ 7,202.26 Morris Street Lot $ - $ - $ - $ - Taste of Muskegon $ - $ - $ - $ - Lakeshore Art Festival $ - $ - $ - $ - Projects and Events $ - $ - $ - $ - County Debt Payments ($1M) $ - $ - $ - Mercy Health Arena HVAC/Roof******* $ - $ - $ - Other Debt Payments (smartzone) $ - $ - $ - Total Debt Payments $ - $ - $ - $ - Total Expenses $ - $ 159,762.00 $ 112,000.00 $ 7,202.26 Net Rev/Expenses $ - $ (43,824.33) $ - $ (3,229.58) Fund Balance at Beginning of Year $ - $ (43,824.33) Fund Balance at End of Year $ (43,824.33) $ (47,053.91) O:\Planning\COMMON\DDA - BRA\DDA - BRA 2021 - current year\110921 DDABRA meeting\DDA financials 11-9-21 TOTAL FINANCIAL FOR 10/31/2021 FY TOTALS Revenues FY 2020-21 BUDGET FY2020-21 ACTUAL FY2021-22 BUDGET OCTOBER 31, 2021 Tax Increment $ 490,931.00 $ 490,931.00 $ 310,287.00 $ - Reimbursement - State $ - $ - $ - $ - Event Revenue* $ 96,200.00 $ 75,635.38 $ 161,750.00 $ 52,759.00 Trans From Capital Projects Fund $ - $ - $ - $ - Interest Income $ 100.00 $ 1,210.06 $ - $ - Fundraising Revenue** $ 5,000.00 $ 5,009.78 $ 5,000.00 $ - BID Income (or $50,000 levy)** $ 112,653.00 $ 165,306.55 $ 129,000.00 $ 3,972.68 Sponsorship $ 70,000.00 $ 37,680.00 $ 87,000.00 $ 19,130.00 Former Mall Brownfield Income (GF) $ - $ - $ - $ - Total $ 774,884.00 $ 775,772.77 $ 693,037.00 $ 75,861.68 Expenses FY 2020-21 FY2020-21 ACTUAL FY 2021-22 FY 2021-22 Business Dev. Manager Wages $ 73,781.00 $ 75,024.35 $ - $ 22,843.13 Trans to GF - Marketing, Events, Overhead $ - $ - $ - $ - FICA (7.65%) $ 5,848.00 $ 5,651.85 $ - $ 2,055.88 Workers Comp (2%) $ 410.00 $ 430.76 $ - $ 145.15 Insurance $ 7,748.00 $ - $ - $ 1,641.77 Residency Bonus (4%) $ 2,743.00 $ 4,881.40 $ - $ - Life Insurance (0.24%) $ 270.00 $ 301.84 $ - $ 109.36 401(k) (6%) $ 8,000.00 $ 6,756.40 $ - $ 2,377.81 Total Salaries/Benefits $ 98,800.00 $ 93,046.60 $ 95,500.00 $ 29,173.10 BID Expenses $ - $ 159,762.00 $ - $ 2,000.00 Streetscape/Wayfinding / Walkability $ - $ - $ - $ - Public Art (Downtown Initiative) $ - $ - $ - $ - Landscaping $ - $ 3,000.00 $ 80,000.00 $ 5,202.26 Snow Removal $ - $ - $ 30,000.00 $ - Façade Program $ - $ - $ - $ - Financial Incentives $ - $ - $ - $ - Downtown Park(s)**** $ - $ 3,598.80 $ 9,000.00 $ 6,099.77 Marketing/Promotions $ - $ 9,703.22 $ 32,000.00 $ 1,003.04 Blight $ - $ - $ - $ - Office Space and Misc Operating $ - $ 6,909.23 $ 26,000.00 $ 2,849.10 Total Recurring Costs $ - $ 182,973.25 $ 177,000.00 $ 17,154.17 Morris Street Lot $ - $ - $ - $ - Taste of Muskegon $ 2,600.00 $ 2,210.24 $ 65,375.00 $ 70,368.68 Lakeshore Art Festival $ 159,279.00 $ 120,497.72 $ 159,279.00 $ 14,109.22 Projects and Events $ 161,879.00 $ 122,707.96 $ 224,654.00 $ 84,477.90 County Debt Payments ($1M) $ - $ 134,072.00 $ - $ - Mercy Health Arena HVAC/Roof******* $ 208,051.00 $ 208,051.00 $ 130,000.00 $ - Other Debt Payments (smartzone) $ - $ - $ - $ - Total Debt Payments $ 208,051.00 $ 342,123.00 $ 130,000.00 $ - Total Expenses $ 468,730.00 $ 740,850.81 $ 627,154.00 $ 130,805.17 Net Rev/Expenses $ 306,154.00 $ 34,921.96 $ 65,883.00 $ (54,943.49) Fund Balance at Beginning of Year $ 6,347.00 $ 41,268.96 Fund Balance at End of Year $ 41,268.96 $ (13,674.53) O:\Planning\COMMON\DDA - BRA\DDA - BRA 2021 - current year\110921 DDABRA meeting\DDA financials 11-9-21 Muskegon Downtown Development Authority Agenda item for B 11-9-21 Approval of Livability ad for 2022 Requesting party: City Economic Development Outline of request: Staff is asking the DDA board authorize the purchase of a Livability Magazine advertisement for 2022 in conjunction with the city. Background: The BID has purchased the Livability Magazine advertisement the past three years in conjunction with the City of Muskegon, splitting the costs 50-50. The magazine is a significant sales piece brought to Muskegon by the chamber of commerce. The city and the BID sold the idea of living in Muskegon in the past ads. Staff comments: City Manager Frank Peterson will split the cost of a two-page Brand Story ad in the magazine again focusing on living in downtown and the city. The total cost is $11,220 with the DDA share $5,610. The funds would come from the DDA’s marketing line item, which is $32,000. Staff recommendation: To authorize splitting the cost of the 2022 Livability Ad with the city for a DDA cost of $5,610. Suggested motion: I move to spend $5,610 in DDA marketing funds on the 2022 Livability magazine advertisement. Brand Brand Stories STORIES Tell the story of your business or organization through a Brand Story, a special sponsored article written and designed in the overall tone and style of the publication. Your branded story could be an overview, focus on your company’s history, highlight a new initiative, detail philanthropic efforts or spotlight your involvement in the community or your industry. The program begins when someone from our editorial team sends an introductory email explaining the process, photo requirements and any critical dates. We’ll work with you to ensure the article has credible third- party authenticity and maximum readability and interest to the magazine’s audience. 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In short order, the equit y and sity, added a temp t, in the San paved g the fing hundre duc ed A decade after Amazon inclusion. extension orary environmen legislation of benefits includin es pro “At my core, growing Farms. company had boots on for those who on Federal launch Rockey potato first arrived in Tennessee, needed to trans der the regi it’s no won for CPAC’s grown at the ground in affected the company has really I believe tha schedule and ition to a part- time ing prod ucer of the way giving farm ers Third-ge neration neighborhoods, leveraging and inclusive t a strong, div funded backu erse is a lead her become an integral part of and elder care, p child in 1941, ion whe re they farmers, he and brot ally their logistics network to the community – whether culture is fou among other ndational to . that ’s actu things. potatoes n grow ing an associat trol the qua lity Brendon are pass ionate cold , but it kills ensure residents and local delivering products or a our long-t erm “The organ ization, as “We’ve bee in this par t of could con products. As CPAC about sust ainable farming a bonus because s,” Rockey organizations received extending a neighborly success.” has done an amazing job a whole, potatoes 1850s,” of their a number critically needed supplies. we are reacti in how since the to celebrat e e adopted a lot of pest ing helping hand. ng to and dealin and hav by their – Stephen Timm, Amazon plans to create Colorado executiv e prepares s favored s. “Our grow President of with the pande g Ehrlich, service, the explain of 5,000 tech and corporate Collins Aerosp mic,” Dever says Jim years of of practice uding prob ably one jobs over the next few years. ace says, “and eux rado 80 ains a her, incl area is trying to suppo of the Colo tion rem grandfat ble in With more than 1,000 employees rt director organiza rotation t sustaina employees inistrative state’s livestock the mos s of already hired, the growing team will as best we can in terms e for the utilizing d ,” he add Amazon founder and CEO, Jeff Bezos, attends a 2019 event for the of how every Potato Adm be based out of the new Amazon vita l voic keep ze the nee the country thing is chang ers, helping to minimi rich soil and Nashville offices, which are scheduled to Amazon Future Engineer program, supporting computer science ing.” grow on’s open later this year. education at Metro Nashville Public Schools. and ts. the regi ainable for inpu ther ditions that them sust hy is ano favo rabl e con le. Geograp lly perfect AMAZON ECONOMIC DEVELOPMENT Collins Aerosp ey secret. ace unders tands prof itab n focu s Vall are practica of taking care the import ance e mai San Luis toes. of its employ “Our thre of ing pota ees. research , 350 days for grow areas are “We get get n and e. We do promotio sunshin Ehrlich enjoy education,” ment and to the environ ure l. Be kind er ing au nat Pro Tip p a russ et in foil. with a fork and bak d to wra piercing rg. No nee ato by sim ply ora dop otato.o MIT TEE pot E COM a fluffi er tips at col TRATIV e rec ipes and ATO ADM INIS Mor DO POT COLORA RED BY SPONSORED SPO NSO BY COLLINS Magiclan d Farm AEROSPACE s, Fremont CSA box es. “We wor k with loca pantries l food that reac and recr h out to uit them people PARTNERS Whitacr to join the e adds. CSA,” want to “We kno buy frui w people but som ts and vege e have limi tables can’t affo ted inco rd them me and brings affo . This program rdable, healthy fresh and food to family mea During ltime.” the 2019 s MFF part pilo nered with t program, Progres farm outs a family ide of Gra that sells nd Rapids and deli city rest vers prod aurants. uce to MF2FCS Throug A, the farm h added an ers have extra stop CSA shar to es to a loca drop off for thei l food pan STOCK r new CSA try “We’re crea members ting a new . custome r base for grown food Michiga consin and , which n- sity of Wis farmers supports I The Univer FR NG and prom ether agricult otes Mic ovate tog ure,” Wh higan WARF inn adding itacre says that 17 , to particip CSA farm ate from s are set funding 2021-24, THE ersit y period of the 10 univ “Our mis the prog the Top IDGE d, ram. among the worl sion is to K IVERStleON ucers in ford lifestyle inspire patent prod WHEN ERI MIT, Stan s and hea active and pace with through lthy food in Seat keeping . educatio choices his life up n, s Hopkins change, n, environ packed ison , Wisconsi and John commun mental in Mad could be -for ward policy lead ity even arrived ression by a tech ity of ership,” ts and his imp Powered high qual explains Whitacr in 2016, and n . “We teac e describe d as déjà vu. economy believes Wisconsi Mi ch iga food thro h people in the Pacific life, Iverson And with the n Fa rm ugh our nutr about After two decades n years is poised to pop. can avoi d of UW; Steve arch to Fa mi educatio n program ition ding seve sight, it Aerial view ly Northwe st – inclu and advantag e of hind equences of Clock wise: Vice Chan cellor for Rese co nn ec know that s. And, we er with in the Bill on ed cons Acker man, tion at UW; Erik More Mic ts co ns is a pilla eating a variety as a lead datio n – Ivers the unintend ford able housing and Gradu ate Educa the Wisconsin of hig are eating an families um er s to r of a hea lthy lifes of foods Gates Foun to helm like unaf (right ), CEO dation far m-fre “Michig tyle. Melinda grow th, e crunch. Ivers on arch Foun their fru an Fitness Midwest and vege decampe d to the ni Rese arch and infra structur our Alumni Rese vegetable its and tables by connec sh fo od is pleased to be a part Founda tion to keep 9, s, tha to fresh onsin Alum nt on us COV ID-1 nks food grow ting peo importa combat efforts of such of the Mic to the the Wisc mbe on ple nt initiativ RF). “It’s incu es, Ivers flagship gies to many loca n by Mic using thei an on (WA th accelerat onsin’s tech nolo was l farmers. higan’s r SNAP collecti e that has Foundati t ” as grow of it.” ersit y of Wisc a to a mun ity Fitness higan partners This inno rest,” says benefits ve impact a oldest and mos soul ’s get ahea d Univ Contribu ting to s that led the enti re com Founda hip add vative Jane Whi to cover hea lthy by improvi One of the offices says. “Let WARF’s campus. per year to cond ition of tion (M commer s a chain project tacre, an the food acce ng ul “tech transfer” includes d $30.8 billion ison weather – the sink ing galv aniz ed. Wit h fund us to FF). ce for farm of manager MFF strength ening Mic ss and successf F works with strategy ure fund combine , UW-Mad part tragedy Lake that allow ing prov addition ers and per wee . “That mea d, WAR Iverson’s lar vent ’s economy n Idea is famous gera ld on nerships grant, Mic ing ided by al access k CSA box ns a $20 agricult higan’s in the worl ze the llion-dol gies state as factory,” Wisconsi und Fitz “It’s part te and ongo higa n Farm a USDA vegetabl to fresh Michiga of beau ural econ ciali timi er technolo the “ide and the the SS Edm immediaCommun fruits and tiful omy.” to commer arise mul nce Badg has been called an tups. he says . in 1975. tack le the ity Support to Family pandemic es for com munity n-grown fruits and To get invo industry ies that to adva also crea ted 400 star of that,” his pass ion. Superior een (MF this ed Agricul “The prog members will cost vege visit mic lved or of discover n- outs. He’s eting more than r is nership betw es that 2FC SA) ture ram the part tables learn mor hundreds Wisconsi and spin ram targ yielding chancello c outreach y chal leng n says. is an MFF with tigh welcome . CSA mem icipant higanfit e, ersit y of n, the vice Scientifi universit erful part was put enco rma urage the initiativ t food bud s people $5.” mi-farm ness.org on the Univ year (on apeu tics prog rma duti es as a The pow ison pres ents,” Acke con e to the gets app bers rece -to-fami /food/ each a ther s. Steve Acke his rites Mad sumptio purchase , incentiv roximat ive ly. campus ential med icine graduate Beyond rma n co-w l WAR F and UW– campus n of frui of healthy izing ely 15 pou TION: Madison over y a day, high-pot ess. arch and seat to e, Acke -21. As ts paying food by loca lly nds of fres one disc n for succ for rese front row exec utiv in the loca in 2020 75 percent grown food to the test FOUNDA average d to WAR F). wide visio , has a ospheric column ther ed members of the cost with nutr each wee h, is disclose It’s a state education An atm a popular the Wea ers work hip with of a CSA k, along ever y day, ece is the n here. champion s er calle d “Ask research CSA mem ition edu cation reso centerpi t on AN FITNESS 0 active innovatio ing, he newspap lar gues prepare But the lop and bers and cook urces to e than 2,00 WARF is tist by train know n as is a regu to deve , Farmers their food With mor , scien l Guys” and vira l tests MADISON kle folio idea receive . holds deploy ow us to tac ges in its port ored o. ONSIN— full pay : MICHIG a time-hon n Idea,” which publ ic radi patents TY OF WISC nd r ment for talk s arou and othe hips that all onsi ld for PPE ERSI the “the Wisc arch shou known ribes the RED BY UNIV PHOTOS en ersit y rese He’s also SPONSO “It ’s partners te and ongoing chall that univ sroom. h he desc ide the clas in whic outs the state touc h lives ctives is Crisp Cou dia ntry ary obje me Acres, the im ts.” our prim industry sen Holland “One of nd emic preand Graduate Education, UW-Madison hips with relat ions to build that this pa r, Research cello SPO NSO RED BY man, Vice Chan MIC HIG — Steve Acker AN FITN ESS FOU NDA TIO N Livability Media 6550 Carothers Pkwy, Suite 420 | Franklin, TN 37067 (615) 850-0300 | Toll-free (800) 333-8842 | Fax (615) 771-0079 | sales@livmedia.com Brand Brand Stories STORIES LIVABILITY WILL: Provide a writer to collaborate with the client to identify a specific content focus or topic. Interview up to two sources the client identifies for an article. 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