Ben Garbacz/Daily Mining Gazette From left, Mandy Lounibos, Whitney Warstler and Mary Babcock discuss the specifics of the Brownfield Resolution. Projects updating the Skyline Commons.

HANCOCK — The Skyline Commons, formerly known as the Juulita Center, had its Redevelopment Brownfield Resolution of Concurrence 25-07 approved at Hancock’s City Council meeting on March 19. Funding for the redevelopment of the property would not be available without the approval.

The funds will not come from Hancock’s tax dollars, with the Downtown Development Authority and Local Development Finance Authority tip capture the difference between the baseline set in Dec. 2024. City Manager Mary Babcock said any incremental projects conducted that increase the value will assist the next 30 years in paying off part of the project due to it not being economically feasible.

The Tax Increment Financing Act allows Hancock to not capture the tax on the value change. Taxable value from improvements will be rebated back to financially support the project.

The completion of the project will bring 27 housing units with nine income restricted. For the first seven years a one-bedroom enclosure will cost $920 and then will go up to about $1,100 for the next 15 years.

In other action, the council approved the wholesale water rate increase for the Franklin-Quincy Township Water Authority. The board approved a wholesale water rate increase for the Franklin-Quincy Township Water Authority in the amount of 47 cents per 1,000 gallons for the new rate of $3.02 due to the increased water rate from Adams Township.

Hancock has not raised their water rates since 2019, though a public hearing will take place on April 16 for proposed water and sewage rates. Water has gone up 65 cents per 1,000 gallons purchased since Hancock last raised their prices.

“It’s now time that we have to raise our infrastructure rates to keep it moving forward,” Babcock said. “So Adams Township has to pay for their asset management plan. They’ve got to make their improvements, and so they have to raise their rates, and then we have to make our improvements and pay for the water.”

It was reported at the meeting that the Hancock Historic Preservation Committee will be resurrected after a few years of hiatus. Bylaws and other information will come through the council for approval. Babcock said that there is an open invitation to join the committee and those interested should contact city hall.