City of Muskegon:
Tax Increment Financing for Vacant Lot Development
City of Muskegon: Tax Increment Financing for Vacant Lot Development
Muskegon, MI
“The City of Muskegon is thrilled to be considered for a nationally recognized housing award like the 2025 Ivory Prize. If selected, our team can utilize the grant funds to implement the next phase of our infill housing strategy. These action items include the establishment of a nonprofit community land trust in our city, and the design and provision of “permit ready plans” for incremental developers. Even more importantly, we are excited for the exposure that this award will give our programming, as we feel it is replicable in communities across the country and can make a real impact in getting people sustainably housed.”
Jake Eckholm | Director of Development Services
The City of Muskegon leverages tax increment financing to transform vacant lots into affordable single-family homes, recovering costs through future property tax gains.
Why they were selected as an
Ivory Prize Finalist
“The City of Muskegon is taking housing affordability seriously with a creative solution: converting vacant lots into affordably-priced housing. Utilizing tax increment financing, the City of Muskegon is making it possible to develop new housing while maintaining attainable sale prices for home buyers.”
- Jenna Louie
Chief Innovation and Strategy Officer at Ivory Innovations
