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Developers scam $4.5 million in tax credits

moneybag.jpg The developers of the Petoskey Pointe project submitted test data that they knew was flawed in support of their application for $4.5 million in tax credits. The project involves several of the same people who were involved in the recently rejected Traverse City parking deck project, including State Senator Jason Allen.

The data purported to show that the project's site was seriously polluted and thus eligible for brownfield tax credits, but as this Record-Eagle article shows, they were later shown to be seriously flawed. Nevertheless, the $4.5 million tax credit was approved by the Michigan Department of Environmental Quality.