NEGAUNEE - The Negaunee City Council on Thursday is scheduled to consider an economic development agreement for a new assisted living facility in the city.
The council meets at 7 p.m. at the Negaunee Senior Center.
The agreement is a four-way deal between the city, the Marquette County Lank Bank Authority, Negaunee real estate company Cambria LLC and developer Hinkson Negaunee Properties.
Hinkson Negaunee Properties owner Melissa Hinkson owns several other assisted living homes throughout the Upper Peninsula. She said she wants to purchase 22 acres Cambria owns on the south side of U.S. 41 across from Teal Lake and near the east end of Water Street. The Teal Lake Senior Living Community would be built on six acres of the parcel.
By purchasing the acreage through the Lank Bank - which would then be reimbursed by the Marquette County Brownfield Authority - the site can be designated as a brownfield, allowing Hinkson and the city to use tax increment financing to recoup their expenses.
Negaunee City Manager Jeff Thornton said it will take about 20 years for the city to recoup its $172,000 investment.
At its meeting Tuesday, the city's planning commission approved Hinkson's site plan and gave the company a special use permit for the six-acre parcel.
Part of the development will involve extending Water Street 2,300 feet to the east; installing sewer, water and electrical infrastructure; and creating four new commercial and seven new residential lots with the remaining land.
If the council approves the agreement, it still must be OK'd by the Marquette County Board at its Aug. 5 meeting. Thornton said once the agreement is signed by all parties, construction would start soon after.
"They could start turning dirt in August," he said.
The council will also consider approving the sale of the city's cable TV and internet system to Negaunee-based Intechs IT Solutions.
Zach Jay can be reached at 906-486-4401.