Petoskey City Council is poised to approve a significant redevelopment initiative that could reshape the local landscape. During the August 4 meeting, council members discussed the potential adoption of an Obsolete Property Rehabilitation Act (OPRA) application aimed at incentivizing a developer to revitalize a property by freezing its assessed value at predevelopment levels.

City officials emphasized that this OPRA application represents the fourth of its kind in Petoskey, showcasing a commitment to using innovative tools to stimulate redevelopment. The proposal, if approved, will be forwarded to the state tax commission for review. City Manager Shane McCarthy highlighted the importance of this initiative, stating, "This certainly makes it much more viable than if this opportunity wasn't in front of the developer."

A key point of discussion was the timeline for project completion. Council members debated the proposed two-year deadline for rehabilitation, with some expressing concerns about its feasibility. Council member Derek Shields suggested that instead of a strict completion date, the language could be adjusted to require "significant progress" within two years, allowing for flexibility in case of unforeseen delays.

The council also discussed the inclusion of a sunset clause in the resolution, which would require the rehabilitation to be completed within two years of the resolution's approval. This clause aims to ensure accountability while providing the developer with a clear timeline. Council member DeMoor proposed linking the deadline to the date of the resolution rather than the issuance of a zoning permit, to avoid ambiguity.

Developer Tom Johnson, present at the meeting, expressed confidence in meeting the timeline, citing strong commercial interest in the project. He acknowledged potential delays due to legal processes but remained optimistic about moving forward.

As the council prepares to vote on the OPRA application, the discussions reflect a broader commitment to fostering economic growth and revitalization in Petoskey, with the potential for significant community impact. The anticipated decision will not only influence the developer's plans but also set a precedent for future redevelopment efforts in the city.