Ben Garbacz/Daily Mining Gazette The Hancock DDA approved a facade grant application pending contractor estimates for a project at 115 Quincy St. The building owned by Jonathon Nagel is planned to become a brewery and tasting room.

HANCOCK — The way has been paved for new residential units in the City of Hancock On Monday, the city’s Downtown Development Authority (DDA) approved Resolution 25-01 approving a MSHDA housing Tax Increment Finance project for multi-family residential units called the Lakeside Townhouses. The DDA will forgo tax increment revenues for the Lakeside Townhouses project and forgo capture on the parcel for the full duration of the Brownfield Plan.

City Manager Mary Babcock explained the difference between the current taxable value and the anticipated future value, once the project is completed by developer, J.S. Stringer. The project will result in six three story townhouses with five units rentable for qualified households at or below 120 percent of the area median income. The vote for approval passed with DDA member Andrew Lahti abstaining.

A DDA Facade Grant application for $15,000, pending contractor estimates, was approved for a project on 115 Quincy St. The building is the former bike shop now owned by Jonathon Nagel, who sits on the DDA. After the meeting Nagel said he has partnered with a local entrepreneur to transform the building into a brewery and tasting room.

“The rear of the building would be where they actually brew the beer, and then the front half would be a tasting room where customers could come and enjoy that,” Nagel said. “With the rest of the project, we’ll also be renovating the second floor of the building and apartments would be up there, and kind of restoring all the elements to be the grand historic building that it deserves to be.”

Nagel said the Michigan Economic Development Corporation requested the application to be brought before the DDA before they were to issue Nagel a letter of intent. Once an estimate is made by a contractor, it will reappear before the DDA. Nagel abstained from the vote to approve the grant application.