Incentives & Financing
Incentive: OBSOLETE PROPERTY REHABILITATION ACT (OPRA)
The OPRA (P.A. 146) incentive essentially allows property owners that are proposing a building renovation to "freeze" a portion of their real property taxes on the current property's value for a period of up to 12 years. Only commercial property or commercial housing property is eligible and the project must be located in a qualified local governmental unit (City of Saginaw and Buena Vista Township are eligible). The process to secure this incentive includes two public hearings and two council resolutions. In order for a project to be eligible, this incentive must be secured prior to building renovation.
Category: Incentives Packaging
More Incentives Packaging
Incentive: STATE ESSENTIAL SERVICES ASSESSMENT (SESA) EXEMPTION AND ALTERNATIVE STATE ESSENTIAL SERVICES INCENTIVE PROGRAMS