The Marquette City Commission held a regular board meeting Monday night.
First on the agenda was a public hearing regarding a commercial rehabilitation exemption certificate for the Organic Food Cooperative of Marquette, also known as the Marquette Food Co–op. The proposed certificate is for 5 years and would allow improvements to only the building. Currently the tax received for the property is more than 20 thousand dollars. The CRD abatement would be just over 7 thousand dollars.
The Executive Director for the Marquette Downtown Development Authority spoke in favor of the request.
Once improvements are made to the property, the annual capture during the exemption period is projected to be nearly 36 thousand dollars per year. The annual tax abatement would be about 45 thousand dollars. Tuesday night, this board passed the certificate request with a 5 to 1 vote.