Developer secures $2.4M from state for historic Bay City bank building

BAY CITY, MI -- The final piece of financial incentives were approved this week for the developer investing $12 million into the 125-year-old Crapo Building in downtown Bay City, allowing construction to begin in the coming weeks.

Officials with the Michigan Economic Development Corp.'s Michigan Strategic Fund on Tuesday, June 27, announced that developer Jenifer Acosta, who most recently redeveloped the former Bay City Times newspaper building at 311 Fifth St., secured a $1 million Michigan Community Revitalization Program performance-based grant and a $1.4 million performance-based loan, for a total of $2.4 million in incentives.