ASTI HELPS BRASS ALUMINUM FORGING
EXPAND IN FERNDALE
With ASTI Environmental’s assistance, the City of Ferndale’s Brownfield Redevelopment Authority will receive $870,000 from the Tax Increment Financing and Revolving Loan Fund dollars for remediation, site preparation and demolition of a 212,000 square foot
former steel pipe and conduit manufacturing facility, a small chemical storage building, a small equipment building and a guard shack on 20 acre site at 965 Wanda in Ferndale and construction of a new 100,000 square foot building.
Among the eligible activities that ASTI secured funding for are
environmental assessments, asbestos assessment and abatement, interior and site demolition and industrial cleaning, debris removal, removal of contaminated soils and oil soaked wood blocks, infrastructure and transformer removal, interest, brownfield plan and 381 work plan costs. Reimbursement will occur over 11 years (for local and state capture) and assumes annual appreciation of 1%.
With a total capital investment of $8.6 million, this industrial renovation and construction project will also spur the creation of 100 full-time jobs, 50 by Brass Aluminum Forging and another 50 jobs by other building tenants. Most of the jobs will be skilled manufacturing. Some of the jobs will be engineering and supervisory positions.
The facility was vacant for 10 years and now is completely leased with a proposed 100,000 square foot new construction on the northern portion of the property.
This was made possible through the support and efforts of the City of Ferndale, the Michigan Economic Development Corporation and the Michigan Department of Environmental Quality’s ability to structure a public/private partnership that provides tax revenue and jobs to an otherwise vacant and blighted property.
For more information of this project or other Incentives inquiries contact Tom Wackerman at 800/395-2784 or email@example.com.
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