Tax Benefits
The Clark Place Building in American Seating Park offers numerous benefits to commercial tenants. The first and foremost benefit to most businesses is the Renaissance Zone designation of the site.

• The Renaissance Zone designation waives all of the following local and state taxes applicable to Grand Rapids: 1) Michigan Single Business Tax, 2) Michigan Personal Income Tax (for Grand Rapids Renaissance Zone residents only), 3) Operating Property Tax Levies (except debt taxes), and 4) City Income Tax (for Grand Rapids Renaissance Zone residents and businesses only). These taxes represent nearly all state and local taxation on a Grand Rapids business.
• In order to qualify for these tax benefits, businesses in the Renaissance Zone must: 1) Not be delinquent in any state or local taxes abated by the Renaissance Zone law, 2) Businesses must file an annual Michigan Single Tax Return, as well as a City Income Tax Return using their appropriate schedules, and 3) Businesses also need to file an annual City of Grand Rapids Personal Property Statement for each property located within a Renaissance Zone. These forms may be obtained by calling 616.456.3089. For additional information on Renaissance Zones, please visit www.grand-rapids.mi.us/departments/econdev/renzone.asp.

An additional tax benefit results from the designation of the property as a Brownfield Redevelopment Site. This designation allows any business on the property to deduct 10% of money spent on physical improvements as well as furniture, equipment and fixtures to be deducted from the Michigan Single Business Tax. The overlap with the Renaissance Zone can be avoided in one of two ways: 1) The Renaissance Zone tax benefits are pro-rated to the move-in date. Therefore, if you move in any time after January 1st, you can take the 10% deduction in the same year, 2) The 10% deduction may be carried forward up to ten years which passes the deduction into the graduated period for the Renaissance Zone.

For many service-oriented companies, the tax savings may completely offset the cost of the lease. This summary serves as a brief explanation of the tax incentives available for this project. Different circumstances may apply to different taxpayers. Please consult your tax advisor before relying on any of this information for tax purposes.

Additional Benefits
In addition to the lucrative tax advantages of commercial space at the Clark Place building in American Seating Park, there are several key amenities.

• American Seating Park has a 500-space parking field. That means you won’t cut into your bottom line with annoying parking fees.
• The commercial space is entirely build-to-suit. Therefore, you get a fully customized space specifically tailored to fit the needs of your company. Pioneer Construction will complete the highest quality work in a timely and professional manner. Our team of skilled architects, engineers, and interior designers will help you create an office that is as efficient as it is beautiful. The historic décor of the building offers massive window space, dramatic Frank Lloyd Wright style concrete columns, open architecture, and fourteen foot ceilings.
• American Seating Park also boasts a beautiful New York City style courtyard with a seventy-five-seat amphitheater, a beautiful fountain, grills, and exquisite landscaping.
• The fourth story of the Clark Place building houses luxury apartments perfect for the downtown professional. The units range in size from 1,500 to 3,800 square feet (1, 2, & 3 bedroom) with cherry cabinets & doors, stainless steel appliances, quarry tile flooring, contemporary lighting fixtures, solid surface countertops, and magnificent views of downtown Grand Rapids.
• As with all properties managed by T.E. Beckering Enterprises, American Seating Park offers twenty-four hour surveillance security and professional maintenance.
• Extremely easy access to both US-131 and I-196 expressways.
• The entire park is zoned for mixed-use development.
• The site is 14 miles from GR Ford Intl. Airport, 158 miles from Detroit, 69 miles from Lansing, and 176 miles to Chicago.