NEGAUNEE, Mich – A new incentive for businesses in Negaunee’s downtown has sparked interest.
Campfire Coffee on Iron Street opened May 13.
It is the first business to receive a Commercial Rehabilitation District Tax Abatement from the Negaunee City Council.
The Michigan Economic Development Corporation says the CRD program is meant to encourage new investment in commercial property.
Under CRD, the businesses property tax won’t increase for up to 10 years, even though the taxable value of the property will go up.
The Downtown Development Authority weighs in before the council considers applications for abatement.