Commercial Rehabilitation Certificates (CREC)
Public Act 210 of 2005 encourages the rehabilitation of commercial property by abating the property taxes generated from new investment for a period up to 10 years. Eligible properties must be at least 15 years old, of which the primary purpose is the operation of a commercial business enterprise or multifamily residential use.
Click Here for the Michigan Economic Development Corporation's summary of CRECs.
***Application MUST be submitted before any construction begins.***