TCLP is owned by the City, so shouldn’t the City be the sole beneficiary of any value attributable to the former coal dock property?

Elmwood Township hosted this industrial use and has suffered the blight, traffic, and coal dust for more than 40 years without even the benefit of property taxes, while the City gets 5% ($1.6M in 2012) of the TCLP gross revenues. With this plan, Elmwood will once again benefit the Citizens of Traverse City through this facility in a very different and exciting way. TCLP has an opportunity to contribute to the change Elmwood is working toward.

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