TRAVERSE CITY, Mich. Traverse Bay Area CU plans to build its new headquarters at a site contaminated by a former gas station.
The credit union is coordinating local and state assistance for environmental cleanup for the $7.3-million, three-story project. Environmental cleanup accounts for about $2.3 million of the project’s total cost, partly paid through a Michigan Department of Environmental Quality loan. The Michigan Economic Development Corporation last week approved a plan to capture $1 million in public money to help demolish two Front Street buildings.
The Grand Traverse County Brownfield Redevelopment Authority on Wednesday will vote on a development agreement with the credit union helping to fund demolition, cleanup and other environmentally protective measures.