Three developers are seeking tax abatement to help them rehabilitate three different commercial properties in Ludington.
The properties are 925 S. Washington Ave., which is a building that Love Wines intends to relocate its business into; 115 S. James St., which is planned by Riemer Real Estate Investments to have its two upstairs apartments remodeled; and 801 N. Rowe St., which is a building planned to become the 65-apartment complex, Lofts on Rowe.
The developers applied for and — following public hearings Monday — their properties were designated by the Ludington City Council as Obsolete Property Rehabilitation Act (OPRA) districts, in accordance with Michigan law.
In the next step, the developers will apply for the properties to receive tax abatements for being OPRA districts, which would “freeze the taxable value of the renovated portions of the property for up to 12 years,” stated Ludington City Assessor Jared Litwiller.
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