12/17/13 - The Brighton Downtown Development Authority is moving ahead with a low interest loan to help aid in demolishing an office complex in the City. The DDA held it monthly meeting today, where it authorized DDA Director Matt Modrack and DDA attorney Doug Cameron to negotiate with Citation Investment and Thomas Duke, owner of the Davis Office Center for a low-interest loan. The loan would be for the purpose of demolishing the four buildings that comprise the office complex, and amount to $50,000 at an interest rate of 2%. It will cost an estimated $150,000 to demolish the buildings, and the DDA loan, if approved, would furnish about one-third of that amount. Modrack says he expects work on demolition to begin as soon as the loan agreement is executed. He says there are no immediate plans by the owner to redevelop the property at this time, but he expects it to eventually be redeveloped. All the tenants are out of the buildings, and Duke has been able to find a new location for many, if not most, of the former tenants. The City of Brighton has taken action in Livingston County Circuit Court to force Citation Investment to either demolish the buildings or bring them up to code. (JM)
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